IPL Auction 2021: How IPL salary structure actually works-All you need to know

IPL Auction 2021:How the IPL salary structure actually works? All you need to know- Over the years, you must have seen many cricketers walk away with multi-million deals in the Indian Premier League auctions. While star players have become wealthy, others have become a household name. But the main question that remains in our heads is how the IPL salary structure actually works? Here’s all you need to know:

Players are bought after bidding. The team that bids the highest price is the one who signs the players.

Also Read:IPL Auction & Players Salary: 14 years of IPL makes 789 players richer by Rs 6144 Cr – InsideSport Exclusive 

The amount for which a player is sold becomes his salary, and taxes are levied accordingly.

 

The salaries are for one season. If the contract is for one year, the player is paid the entire amount. If it is a three-year contract, salary is divided into three parts for each edition of IPL (depending on availability).

Also Read:Indian Premier League 2021: Morris and Maxwell enter ₹50 crore Salary club; Check the complete list 

BCCI gives 20 per cent of the total salary to the home board. If an Aussie is bought for 5 crore, 1 crore will be paid to Cricket Australia. The cost comes out of the league’s central revenue pool.

 

In the inaugural edition of IPL, bids were in US dollars. At that time, the exchange rate was fixed at Rs 40 per USD. Four years later, the system changed to INR.

 

If a player is retained, the franchisee will pay the same price as the previous year. Only teams can decide if it wants to give a salary hike to the player.

 

The salary is staggered depending on the status of each franchise. For example- It is dependent on sponsorship money.

 

Some IPL franchises pay the entire salary at a time while others give 50 per cent in advance. Others follow 15 (one week before IPL)-65 (during IPL)-20 (post-IPL) formula. Few teams give cheques to their players.

On Fri, Feb 19, 2021 at 7:13 PM James Kuanal <james.k@insidesport.co> wrote:
Explained: How IPL salary structure actually works? All you need to know

 

Explained: How the IPL salary structure actually works? All you need to know- Over the years, you must have seen many cricketers walk away with multi-million deals in the Indian Premier League auctions. While star players have become wealthy, others have become a household name. But the main question that remains in our heads is how the IPL salary structure actually works? Here’s all you need to know:

 

Players are bought after bidding. The team that bids the highest price is the one who signs the players.

 

The amount for which a player is sold becomes his salary, and taxes are levied accordingly.

 

The salaries are for one season. If the contract is for one year, the player is paid the entire amount. If it is a three-year contract, salary is divided into three parts for each edition of IPL (depending on availability).

 

BCCI gives 20 per cent of the total salary to the home board. If an Aussie is bought for 5 crore, 1 crore will be paid to Cricket Australia. The cost comes out of the league’s central revenue pool.

 

In the inaugural edition of IPL, bids were in US dollars. At that time, the exchange rate was fixed at Rs 40 per USD. Four years later, the system changed to INR.

 

If a player is retained, the franchisee will pay the same price as the previous year. Only teams can decide if it wants to give a salary hike to the player.

 

The salary is staggered depending on the status of each franchise. For example- It is dependent on sponsorship money.

 

Some IPL franchises pay the entire salary at a time while others give 50 per cent in advance. Others follow 15 (one week before IPL)-65 (during IPL)-20 (post-IPL) formula. Few teams give cheques to their players.