The Indian Premier League: A Professional Twenty20 Cricket Tournament

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The Indian Premier League (IPL) is a professional Twenty20 cricket tournament played once a year in India. It is made up of ten franchises, expanded from eight the previously three years, it begins in May and runs for 45 days. Each team will play each other home and away, so will play a total of 18 games. The top four teams will then qualify for the semi-final stage with the winners of each semi-final competing in the final. The brand value of the IPl was valued at $4.13bn in 2010.

Franchise |Captain |Coach | |Mumbai Indians |Sachin Tendulkar |Robin Singh | |Royal Challengers Bangalore |Virat Kohli |Ray Jennings | |Deccan Chargers |Kevin Pietersen |Darren Lehmann | |Chennai Super Kings |MS Dhoni |Stephen Fleming | |Kings XI Punjab |Adam Gilchrist |Michael Bevan | |Kolkata Knight Riders |Gautam Gambhir |Dav Whatmore | |Rajasthan Royals |Shane Warne |Shane Warne | |Pune Warriors |Yuvraj Singh |Geoff Marsh | |Kochi |Mahela Jayawardene |Geoff Lawson | |Dehli Daredevils |Virender Sehwag |Greg Shipperd | | Each IPL franchise must have a minimum of 16 players per squad. A squad must have a maximum of 8 foreign players with the rest made up of domestic cricketers. A maximum of four foreign players can play for the starting 11 in any match. The squad must also have at least four players under the age of 22.

Each year there is a player auction to determine the teams for that years twenty20 tournament. The player auction is a private auction, conducted by an independent auctioneer.

There is currently a retention policy in place in the IPL. A franchise is allowed to retain up to 4 players per season. The policy states that three Indians is the maximum that can be retained. There is no quota for how many overseas players can be retained at most. The maximum of 4 retained players cannot have a combined value above $3.5 million.

Format of auction

The auction is an open auction with each player being individually put up for bidding by the...
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