IPL 2022: New IPL franchises the deadline of Jan 22 to complete retentions

IPL 2022: New IPL franchises the deadline of Jan 22 to complete retentions

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11 Jan 2022
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BCCI

The Board of Control for Cricket in India (BCCI) has given a green light to the two new franchises, the CVC Capital-owned Ahmedabad team and the RPSG Group-owned Lucknow team, that they can start acquiring players for the team and submit the names by January 22.

IPL 2022

The Board of Control for Cricket in India (BCCI) has given a green light to the two new franchises, the CVC Capital-owned Ahmedabad team and the RPSG Group-owned Lucknow team, that they can start acquiring players for the team and submit the names by January 22.

 

The teams would have to submit their list by 5 pm, January 22, according to reliable sources within the Indian cricket body and the franchises. This comes only one day after the Governing Council formally approved the two teams’ hiring processes and issued the Letter of Intent.

 

The national cricket governing body, on Wednesday, January 12, gave a go-ahead to the two franchises via mail while authorising them to start signing players for the forthcoming season as the teams start integrating into the IPL system.

 

“On Wednesday, both the franchises were formally emailed all the details about the signing process. They have about 10 days to complete the formalities,” a source aware of the development, said.

The governing Council accelerated the investigation once the committee gave its approval

The teams were originally given two weeks, but it was determined that, in order to keep the auction dates in mind, the names needed to be presented within ten days.

 

Both Ahmedabad and Lucknow had planned to recruit the three players in the recruitment process, with not more than one overseas player, by December 25, but the deadline was postponed as an independent committee investigated CVC’s suspected participation in the betting industry. The Governing Council accelerated the procedure once the committee gave its approval.

 

The news comes after the Governing Council authorised the issuance of a Letter of Intent to CVC Capital, whose acquisition of the Ahmedabad franchise has been dogged by controversy for some months.

 

The IPL chairman stated that the mega auction will take hold in Bangalore on February 12 and 13. The Governing Council also discussed the dates of the mega auction.

According to the general recommendation, new teams would lose Rs 33 crore if they recruit three capped players, Rs 24 crore if they sign two players, and just Rs 14 crore if they sign one player (the mandated fee slab for the players is Rs 15 crore, Rs 11 crore, and Rs 7 crore). They would only pay Rs 4 core for an uncapped player, compared to Rs 8 crore for the eight original teams who had the ability to sign a maximum of four players.

 

Moreover, the two news teams have been permitted to sign no more than one uncapped player. The teams can spend more than the permitted amount on the acquisition of the player on the condition that the said amount will be deducted from their kitty of Rs 90 crores.

 

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