As the hearing regarding clash of interest is in progress in the Supreme Court, against the alleged irregularities by the administrators in the IPL, the business of the franchises is running as usual for the next season. Overall, 123 players have been retained and 5 traded by all the franchises till Monday, that was the last day of trading window. In all 79 Indians and 44 overseas players have been retained. The star player who has been released is Yuvraj Singh who was the costliest players bought for Rs. 14 crores by Royal Challengers Bangalore. It is learnt that Virat Kohli was trying hard that Yuvraj be retained but the management decided otherwise.
Underlining the provisions, Ranjib Biswal , the Chairman of IPL said “Teams have the right, at their sole election, to extend player contracts for another season. This allows for teams to make any course corrections to their squads as a way to strengthen their team ahead of the next season. It is a way to balance the need for continuity whilst allowing for churn which is very important from the league’s perspective. The released players will have the option to put their names up for the player auction for the 2015 season.”
From this year, a 5% increase has been given to Franchises in their purse salary, making it Rs. 63 lakh. However the salaries of all the players retained will be deducted from this amount.
It will be interesting to see as to how the franchises respond to many young talented Indian players who have emerged recently.