How much every team will spend in LPL 2023 Auction? | Details Revealed
The Lanka Premier League (LPL) is gearing up for its fourth edition, and cricket enthusiasts are eagerly anticipating the action-packed tournament. With the auction scheduled for June 14, the excitement surrounding the event is palpable. The LPL has established itself as a premier T20 league in Sri Lanka, and this year’s edition promises to be bigger and better than ever before.
In a departure from previous editions, the LPL 2023 auction will follow the IPL-style format. Five participating franchises will have a maximum spending cap of US$500,000 each, ensuring a level playing field for all teams. This format injects an element of strategy and competition as franchises bid for players who can bolster their squad.
Ahead of the auction, several star players have already been signed by the franchises. With an additional $500,000 at their disposal, teams secured a core setup by signing these players to three-year contracts. The franchises retain the right to release or retain players based on mutual consent at the end of each season. This approach adds stability and continuity to team compositions.
Similar to the IPL, players will be categorized as capped and uncapped, with varying base prices for registration. Capped players, ranging from international stars to domestic talents, can register under base prices ranging from $10,000 to $50,000. Uncapped players meeting specific criteria are categorized based on their playing experience and registered at various base prices.
Each franchise will have a squad of 20-24 players, including a mandatory six overseas players. Any unspent funds from the pre-signing purse cannot be carried over to the auction, ensuring that teams are proactive in assembling their desired squads. The bidding process allows for competition between two teams, with a third team joining the fray only when one of the initial two teams withdraws.
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After the initial round involving 70 players, an “accelerated” auction process will take place. Teams will have the opportunity to nominate 15-20 players, including unsold players from the previous round, who will then go under the hammer. This segment injects additional excitement into the auction, providing opportunities for franchises to acquire talent that may have been overlooked earlier.
The Lanka Premier League 2023 auction is set to unleash a cricketing frenzy as teams vie for top talent to strengthen their squads. With a format inspired by the IPL and the addition of pre-selected players, this year’s edition promises to be a thrilling showcase of T20 cricket. As fans eagerly await the tournament’s commencement on July 31, the auction on June 14 will be a crucial step in shaping the fortunes of the participating franchises.
