IPL Trophy. (Photo Source : Twitter/@VenkatRamanan_)
The Indian Premier League player auction for IPL 2024 season will be held in Dubai on December 19, with the franchises having time up to November 26 to announce retentions. Notably, it will be the first time that the auction will be held overseas as every franchise has been given a purse of INR 100 crore (USD 12.02 million approximately) to build up their teams for the next season. The purse has been increased by INR 5 crore from the previous edition which was previously at INR 95 crore.
However, the purse of every team will be updated on the auction day after considering the value of the players they’ve released and their unutilized purse from the 2023 edition.
At the moment, Punjab Kings have the largest purse of INR 12.20 crore (USD 1.47 million) while the five-time champions Mumbai Indians have the smallest at INR 0.05 crore (USD 0.006 million). Apart from them, Sunrisers Hyderabad have INR 6.55 crore (USD 0.79 million); Gujarat Titans and Delhi Capitals both have INR 4.45 crore (USD 0.54 million); Lucknow Super Giants have INR 3.55 crore (USD 0.43 million).
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Furthermore, Rajasthan Royals have USD 3.35 crore (USD 0.40 million); Royal Challengers Bangalore have INR 1.75 crore (USD 0.21 million); Kolkata Knight Riders have INR 1.65 crore (USD 0.2 million); and defending champions Chennai Super Kings have INR 1.5 crore (USD 0.18 million).