IPL retention rules: BCCI strives to maintain mega-auction dynamics

The new retention rules may appear to have been aimed at pleasing everyone, but the Board of Control for Cricket in India (BCCI) ultimately may have had the final say in this eagerly-awaited decision. At the heart of the rules, released on Saturday, the BCCI's target clearly is to maintain the high profile and competitiveness of the auction.

Shah Rukh Khan had vehemently advocated for the retention of eight players. The BCCI has offered him six, potentially, as sought by him, all via the Right To Match (RTM) option. Kavya Maran pushed for removal of the cap on the retention of foreign or domestic players. The BCCI has agreed and eliminated the restriction. She can now retain overseas players like Pat Cummins, Travis Head, Heinrich Klaasen, Aiden Markram, and likely Abhishek Sharma as well. Are these teams really happy? Debatable. But ask a player... he would be supremely delighted.

The BCCI has made it clear to the franchises that while they can retain players, they can do so only at a premium. This is evident in the decision to price Player No. 4 and Player No. 5 at the same value as Player No. 1 and No. 2, at INR 18 crore and INR 14 crore, respectively. In previous years, retention prices followed a descending scale, but this time, the cost of retaining players will significantly impact the franchises' budgets.

With INR 75 crore allocated for five capped retentions and INR 4 crore for one uncapped retention, franchises are committing INR 79 crore out of their available purse of INR 120 crore budget for just six players. This leaves them with only INR 41 crore to build the rest of the squad, which could require at least 14 more players. It certainly is not an easy proposition - buying a player roughly at INR 2.5 crore - but the message from the BCCI is clear - retaining players will come at a significant cost.

The move is an attempt to attract top-tier players to the auction pool. If all 10 teams decide to keep six players each, the auction risks losing 60 top players and some of its sheen. By raising retention stakes, the BCCI is clearly introducing deterrents. Previously, the retention cap hovered just above 50 per cent of the total player purse; now, it has surged to over 65 per cent.

Even the new clause in the RTM rule is aimed at the goal. The rule reads like this: "The highest bidder will be given one final opportunity to raise their bid for a player before the team holding the RTM card can exercise their right. For example, if Team 1 holds the RTM for Player X and Team 2 has placed the highest bid of Rs. 6 Cr, then Team 1 will be first asked if they will exercise RTM, if Team 1 agrees, then Team 2 will have the chance to increase their bid. If Team 2 raises their bid to Rs. 9 Cr, then Team 1 can use the RTM and acquire Player X for INR 9 Cr. If Team 2 chooses not to raise the bid and keeps it at Rs.6 Cr, Team1 can use the RTM and get Player X for Rs.6 Cr." The BCCI permits a franchise to RTM a player, but again, neither easily nor cheaply.

It's clear that the BCCI is discouraging franchises from retaining too many players, but the downside to this approach is apparent lack of incentive for successful teams. The argument here is if some teams wish to keep the core of their squad intact, they will have to sacrifice 65-66% of their budget. This leaves little motivation for teams that have performed well, as they receive no additional regulatory support for maintaining their winning line-ups or fan base.

Whether or not the teams are pleased, the new rules are highly player-friendly. The introduction of a match fee is sure to be a hit among players, as it allows both Indian and overseas cricketers to earn more through match play than they do for an entire season in other leagues like the CPL, BBL, PSL, and The Hundred. Besides, the new clause to the RTM rule will likely delight players while adding some spice and excitement to the auction proceedings. But it is debatable with that new clause whether it continues to remain RTM.

By treating retired players as uncapped, the BCCI seems to be making it easier for Chennai Super Kings to retain MS Dhoni. But then, who wouldn't want Dhoni in the IPL? The franchise, though, still won't say whether Dhoni will feature in next season.

The BCCI has set the deadline for finalising and submitting the player retention list for 5 PM IST on October 31. This gives teams just about a month to negotiate and strategise their retentions. Whether this timeframe is sufficient is debatable, but they should begin discussions immediately, as the auction is not far off.