The IPL 2024 auction will take place in Dubai in December 2023 as per the official confirmation of the BCCI. Here is all you need to know about the venue, date, purse limit, transfer news and retention deadline.

The IPL has come a long way since its inception in 2008. Not only has it developed an endless assembly line of talented cricketers, but over the years, it has turned into a successful money-minting product for the BCCI.

With a combined TV and digital media rights deal of a mammoth 6 billion USD for the 2023-27 cycle, the IPL is now the second-richest sporting league in the world, trailing only the NFL.

What is the venue of the IPL 2024 auction?

For the first time an IPL auction will be held overseas. While Istanbul in Turkey was shortlisted initially, Dubai got the nod to host the event in the end. Coca-Cola Arena, renowned for organising high-profile events, is the preferred venue for the 2024 auction.

When will the 17th IPL auction take place?

The teams will bid against each other on December 9 to secure the top talents in the country for the 17th season.

A Bloomberg report stated that Saudi Arabia could strike a record multibillion-dollar deal in the IPL. The kingdom wished to pump as much as USD 5 billion into the competition, eyeing an overseas expansion in the mould of the English Premier League and the European Champions League.

How much can a team spend to recruit players for IPL 2024?

Each of the ten participating teams is allowed to operate with a maximum purse of INR 100 crore for the 2024 edition, which also caps off the third and final year of the three-year contract for players. A mega auction will be on the cards next year.

Earlier, multiple reports suggested that the owners are mulling over offering an annual 12-month contract to the best players, meaning national boards might have to seek permission from the IPL franchises in the future to ensure the availability of their cricketers in international fixtures.

Latest transfer news ahead of the upcoming bidding war

In a recent trade, Mumbai Indians secured the service of Caribbean all-rounder Romario Shepherd from Lucknow Super Giants at a base price of INR 50 lakh.

Shepherd is a renowned name in the T20 circuit with the reputation of an able finisher, combined with wily pace bowling skills. For the West Indies, he has scored 301 runs in 31 outings at an average of 37.62 while striking at a whopping 154. He has also scalped 31 times.

 What is the player retention deadline for the franchises?

In a recent notification by the BCCI, the deadline for the release of the list of retained players has been extended to November 26. The slack will give teams more time to think of their winning combinations.

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