IPL Auction

The Indian Premier League (IPL) is undoubtedly the biggest and the richest T20 league in the world. Started in 2008 after India's historic triumph in the 2007 T20 World Cup, the tournament has grown stronger with each passing year.

The IPL showcases top-notch cricket, featuring the biggest names in the sport. What adds an extra layer of excitement and anticipation to this competition is the high-stakes IPL auction. Each year, the cricketing world eagerly awaits for the auction to take place as the event adds an unparalleled thrill to the spectacle.

The auction process adds an extra layer of excitement to the world's most-watched T20 league. The highly-anticipated auction not only shapes the fate of franchises but also serves as a platform for players to secure lucrative contracts and showcase their talent on a grand stage.

Over the years, the IPL has been a platform where relatively unknown players have earned mega deals from franchises, turning their journeys into captivating rags-to-riches stories that resonate strongly with fans. The inaugural IPL auction in 2008 marked a groundbreaking moment not only in the cricketing world but also in the broader sporting arena.

The sporting world was stunned as several cricketers secured deals exceeding a million dollars—a figure largely unprecedented in cricket up until that point. The inaugural IPL auction reshaped the landscape of cricket and not many would disagree with it. The deals are only getting more lucrative with each passing year and it is a testament of the growing popularity and success of the IPL.

How does IPL auction work?

Before the auction, each franchise is assigned a budget to buy players in the auction. The franchises do not need to spend the entire amount during the auction. For IPL 2024 auction, the team has a budget of Rs 100 crore, up from last year’s Rs 95 crore.

The players are divided into multiple sets based on their playing roles, nationality and international cap status. Each player has a base price, and that figure serves as the starting point for the bidding process. The names of the players is announced by the auctioneer, and the teams begin bidding on them. The bidding continues until the auctioneer declares the player sold. In case, a player fails to attract any bid, he remains unsold.

Year-wise IPL auction's costliest players:

England allrounder Sam Curran holds the record for being the costliest player in the IPL. The southpaw earned a lucrative deal of Rs 18.50 crores from Punjab Kings in the 2023 auction, almost double what MS Dhoni received in the inaugural auction as the costliest player.

Here is the list showing the costliest players of each IPL auction: