New IPL Franchises Given Time Till Jan 22 To Complete Retention Procedure

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Lucknow and Ahmedabad, the 2 additional IPL teams, have been allowed till January 22 to fulfill their retention procedure before the major auction, which will take place before the 15th season of the competition.

The announcement was made 2 days just after BCCI gave the green signal to the CVC Capitals-owned Ahmedabad franchise by issuing the Letter of Intent (LoI), which has now been delayed due to the firm’s interconnections to betting companies out of India, which had sparked a scandal.

The BCCI had originally set a target of December 25 for the new franchises to pick their 3 retentions from the list of non-retained individuals, but the process was prolonged based on the legal fighting over the CVC issues.

New IPL Teams Were Meant To Have 2-week Timeframe For Retentions

According to the retention criteria, the new teams are only allowed to hold up to 3 players, 2 of whom must be Indians and one of whom must be from overseas.  In addition, the new teams are only allowed to sign 1 uncapped player. Right to Match (RTM) cards are not available in this year’s giant auction.

Unless a team keeps 3 players, the pay limit will be reduced by INR 33 crore (INR 15 crore for Player 1, INR 11 crore for Player 2 & INR 7 crore for Player 3). The reduction will be INR 24 crore (INR 14 crore & INR 10 crore) if consisting of 2 retentions, and INR 14 crore, INR 4 crore in particular retention or uncapped players, accordingly.

The new teams were meant to have a 2-week timeframe to choose their players, but it’s been reported that the council and various team supervisors have decided that 10 days will be enough. The new franchises currently have until 5 p.m. on 22′ January 2022 to complete the procedure.

The huge auction, whose structure had been disputed however to the substantial increase of Covid-19 instances in India, is expected to take place as planned on February 12 and 13 in Bengaluru. Following the withdrawal of Vivo, IPL chairman Brijesh Patel stopped the allegations on January 11, the same day that the IPL got a new sponsorship partner in Tata Group, an Indian corporate group.

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