Several franchises have expressed their disappointment towards the new rule of advantage, which would be given to the highest-biding team during the Indian Premier League (IPL) 2024 mega auction. The management has argued that in that process, the extra chance of the respective franchise will snatch the logic of the RTM.
The additional advantage of the IPL Governing Council (GC) has stated that the highest bidding team of the auction will be offered an extra chance to raise their bid before the Right To Match (RTM) card to exercise by the team holding the chance to retain their old member of the tournament.
The increased bid of the individual could be of any price, which the entitled team has to match to get the player back in the side. If a team doesn’t retain any player in the retention list, along with the one uncapped player, then they will have the chance of six RTM cards.
IPL franchises show frustration toward the RTM card rule
The new rule of the RTM card has been grown by the Board of Control for Cricket in India to increase the price and value of a certain player who has come to the auction.
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“The highest bidder will be given one final opportunity to raise their bid for a player before the team holding the RTM card can exercise their right.“ The new rule explains which has been circulated to the various franchises by the BCCI.
The reports have also claimed that some of the franchises have even written to the BCCI, while others have been engaged in discussions with its officials. The board has clarified that the increased amount for the player can be anything, which will elevate the market value of the player.
“For example, if Team 1 holds the RTM for Player X and Team 2 has placed the highest bid of Rs. 6 Cr, then Team 1 will be first asked if they will exercise RTM if Team 1 agrees, then Team 2 will have the chance to increase their bid.” The BCCI has elaborated on the point.
“If Team 2 raises their bid to Rs. 9 Cr, then Team 1 can use the RTM and acquire Player X for Rs. 9 Cr. If Team 2 chooses not to raise the bid and keeps it at Rs. 6 Cr, Team 1 can use the RTM and get Player X for Rs. 6 Cr.” They shed light.
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It has also been noted that the new rule could be counterproductive to the main goal of the BCCI, as many star players as possible for the IPL auction. The price of 18 crores and 14 crores for the fourth and fifth retention of the players will anyway discourage the teams from pursuing the retentions.
However, the other reports have expressed that in that case, the franchise can think of going for more retentions rather than shouldering on the RTM options all the time. The deadline for all ten teams to submit their list of retained players is October 31.