It's time for the IPL players' draft. The event will be held at Mumbai Cricket Association's Club House in Bandra-Kurla Complex from 12.15 pm.
Rules of the draft
New Rising's Sanjeev Goenka and Intex's Keshav Bansal will be the most busy men today as their franchises (Pune and Rajkot respectively) will pick five players each from the pool of 50 cricketers (belonging to suspended teams Chennai Super Kings and Rajasthan Royals).
Those who will not be selected, will go into the IPL auctions, to be held in February, 2016.
The cricketers from the two suspended franchises will be divided into two groups - capped and uncapped.
The first capped player is worth Rs12.5 crore while the remaining four capped players are worth Rs 9.5 crore, Rs 7.5 crore, Rs 5.5 crore and Rs 4 crore. Whereas for any uncapped player it will also be Rs 4 crore.
The two new teams will have a minimum purse of Rs 40 crore and a maximum of Rs 66 crore to buy the players.
Pune will get the chance to select the first player from the draft as they had managed to bid lowest in the team auction (Rs 10 crore). Rajkot (Rs 16 crore) will get the next shot.
Twist in the tale
Suppose if Pune selects a capped player first up, then Rs 12.5 crore will be deducted from their purse of Rs 66 crore. But they will have to pay the player, the amount which he actually used to get from his previous franchise.
For example if the player used to receive Rs 9 crore previously, then he would be paid the same sum by his new owners but the later's spending power would be reduced by Rs 12.5 crore and not Rs 9 crore.
Similarly if the cricketer used to demand a salary of Rs 15 crore earlier, then his new owners would in reality, pay him the same sum, but their spending power will be reduced by Rs 12.5 crore and not Rs 15 crore.
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