The two new franchises in the Indian Premier League (IPL) have been given a budget of Rs. 33 crore to pick three players before going into the mega auction. On October 25, the Board of Control for Cricket in India (BCCI) announced the addition of two new teams - Lucknow and Ahmedabad - to the IPL, making the lucrative T20 competition a 10-team affair. According to news agency ANI, the BCCI sent a mail to all the franchises on Saturday, where it conveyed the change in rules, confirming that the two new teams will be allowed to choose three players ahead of the next auction in order to make the playing field equal.
The new franchises have been asked to pick not more than two Indian players, capped or uncapped and not more than 1 overseas player. Meanwhile, the remaining eight franchises have been allowed to retain four players ahead of the mega auction. In the case of four retentions for the existing eight teams, it could be either three Indians and one foreign player or at the maximum two Indians and as many foreigners.
The BCCI also confirmed the increase in salary purse of all franchises by Rs. 5 crores. In IPL 2021, each team were allotted a salary purse of Rs. 85 crore to buy players from the auction. As per ANI, the salary purse has been set at Rs. 90 crore for IPL 2022. The last time the salary purse of franchises were increased was back in 2018 when the previous mega auction took place. According to the letter, the existing eight franchises have been asked to pick their retentions by November 30 and then the two new teams will be given an option to select their three players between December 1-25.
Sanjiv Goenka-owned RPSG Ventures Ltd. placed a successful bid of Rs. 7090 crore to buy the Lucknow franchise in the auction the other night. Irelia Company Pte Ltd. (CVC Capital Partners) offered Rs. 5,625 crore bid to own the Ahmedabad franchise. The two new teams will make their debut in IPL 2022.