The IPL 2024 Auction is all set to take place in Dubai on December 19th with 332 players going under the hammer. In situations where certain franchises have a limited purse remaining, the likelihood of multiple teams ending up with tied bids for a player, unable to proceed due to insufficient funds, is high. In such cases, a silent tie-breaker bid comes into play to determine which team secures the services of the player.
IPL 2024 Auction: What is a silent tie-breaker bid?
- Franchises that jointly finalize a bid for a specific player must submit a silent written bid on a form. The team pledging a higher amount on the form will secure the player’s services. The promised amount on the form is then paid by the franchise to the Board of Control for Cricket in India (BCCI).
This payment is separate from the final bid made by the franchise for the player and does not impact the team’s salary cap. If tie-breaker bids from the franchises are equal, the process is repeated until a winner is determined.
Highlighting how this works, in the 2010 IPL auction, Kieron Pollard joined Mumbai Indians, and Shane Bond went to Kolkata Knight Riders through the tie-breaker bid. Similarly, in the 2012 auction, Chennai Super Kings secured the services of Ravindra Jadeja using this method. However, despite being unused for a few season BCCI reinforced the rule back in 2023 Auction.
IPL 2024 Auction Remaining Purse
Gujarat Titans (GT) boast the highest remaining purse value, while Lucknow Super Giants (LSG) find themselves with the lowest amount of money left.
- Gujarat Titans (GT): ₹38.15 crore
- Chennai Super Kings (CSK): ₹31.4 crore.
- Kolkata Knight Riders (KKR): ₹32.7 crore
- Royal Challengers Bangalore (RCB): ₹23.25 crore
- Mumbai Indians (MI): ₹17.25 crore.
- Lucknow Super Giants (LSG): ₹13.15 crore
- Rajasthan Royals (RR): ₹14.5 crore
- Delhi Capitals (DC): ₹28.9 crore
- Punjab Kings (PBKS): ₹29.1 crore
- Sunrisers Hyderabad (SRH): ₹34 crore
