NEW DELHI (India): The Indian Premier League (IPL) auction will be held on February 18, the BCCI announced on Wednesday.
The league’s announcement sets up the auction ahead of the cash-rich tournament’s start in April, after England’s tour of India ends on March 28.
Each of the eight teams is allowed to spend nearly $12 million in salaries for the 10-week tournament but because many have a high number of retained players the cash available for the auction will differ.
Kings XI Punjab will enter the auction with the biggest purse of $7 million followed by Virat Kohli’s Royal Challengers Bangalore on $4.75 million.
Rajasthan Royals will have $4.7 million after releasing high-earning captain Steve Smith, who could be a major target for one of the other teams.
Punjab, Bangalore and Rajasthan are all rebuilding after a disappointing 2020 season when the tournament was held in United Arab Emirates because of the coronavirus pandemic.
Reigning champions Mumbai Indians released seven players and will have about $2 million to bid.
