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Must spend at least 75 per cent on IPL auction: BCCI

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Prime Time Zone, Sports: The mini auction for the 14th season of Vivo IPL will be held on the 18th of this month in Chennai. However, the IPL Governing Council has imposed a condition on franchisees to participate in the auction. The letter wrote that all franchisees must use at least 75 percent of their wallets. Currently the purse value is Rs. 85 crore .. 75 per cent of this amount should be used in the auction, the letter said. This means that each franchise is worth Rs. 63.75 crores should be used. The governing council said the minimum value would be calculated in conjunction with existing player value. In terms of members of the Kings XI Punjab team, Rs. Has a value of 31.8. At least another Rs 31.95 crore must be used to buy players in this franchise auction. The Punjab management is refusing to put in such a huge amount for a single season. However, the BCCI has reminded that this provision has been in force from the beginning.

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Must spend at least 75 per cent on IPL auction: BCCI