IPL 2023 Auction: The Board of Cricket Control for India (BCCI) is set to conduct the much-anticipated auction for the upcoming edition of the IPL 2023 on December 23 at Kochi. With most of the franchises releasing numerous players, it will be interesting to find the hefty bids and the veteran cricketers going under the hammer. In an unexpected and unexplained move by the organizing committee, a Tie-Break Rule will come into effect at the scheduled auctions. The tie-break rule will consist of a Silent Written Bid where two or more franchises will lock horns on bidding for a player but have insufficient funds to battle it out.
According to the Tie-Break rule that will be implemented in the IPL 2023 Auction, if a franchise makes a final bid on a player and have no remaining balance in its purse, a counterpart franchise can match the bid price and the player will be declared sold if they have available funds in their kitty.
Tie-Break will make IPL 2023 Auction process interesting for franchisees
However, a twist in the regulation is that the Tie-Break rule will come into effect when a franchise will make the Last Bid for a player with insufficient funds and BCCI will invite all the other franchises who are willing to make a Matching Bid. All the franchises will be asked to submit a Silent Written Bid.
The Tie-Break Rule implies that one of the franchises will be granted the rights to obtain the services of the player for the 2023 season. The franchisee shall pay the player his installment amount as per the salary cap and signed agreement.
Meanwhile, the BCCI has once again turned up to veteran England host Hugh Edmeades who will conduct the auctions tomorrow. Edmeades had suffered a major fall at the previous auctions after which Indian host Charu Sharma had taken over.
BCCI has also stated that the auctions will be conducted in view of all the regulations set by the organizing committee in the Indian Rupees denomination. Independent auctioneer Hugh Edmeades will be vested with complete authority to host the event.