In a bid to ensure teams have the chance to stick to their top players, albeit by shelling out huge stashes of money, the Indian Premier League is all set to propose retention of 5 players per team for the period between 2014-2017. There have also been talks about introducing a ‘joker’s card’ which allows a team to have the ‘first right of refusal’ for the players they have not retained. This means the previous team owner of a particular player can buy him back by simply matching the highest bid in the auction.
The prices for player retention have seen a considerable raise, with the first retained player likely to get up to Rs 12.5 crore a year. If a team does decide to retain 5 players, they will have to shell out a whopping Rs 39 crore from the initial purse of 60 crore. This means the management have to form the rest of the team with the remaining 21 crore.
The pay for the retained players will be as follows: Player 1 – Rs 12.5 crore; Player 2 – Rs 10.5 crore; Player 3 – Rs 7 crore; Player 4 – Rs 5 crore and Player 5 – Rs 4 crore.
Also, in a move to make sure there are no shady dealing with players after the auctions, the Board will make it mandatory that all teams spend a minimum of Rs 36 crore from their initial purse.