The IPL player auction for the 2023 season will be held on December 23 in Kochi. It will be a mini-auction compared to the mega-auction ahead of the 2022 edition, when ten franchises will have to virtually rebuild their squads from scratch.
In addition to the money left over from their previous auction purse and the value of their released players, each team will have an additional INR 5 crore (approx. USD 607,000) to spend in this auction, bringing the total purse to INR 95 crores. approximately US$11.5 million).
Defending champions Gujarat Titans had INR 0.15 crore (approx. US$18,000) while three teams – Mumbai Indians, Sunrisers Hyderabad and Delhi Capitals – had INR 0.10 crore (approx. US$12,000).
The IPL is expected to finalize the player pool for the auction by early December when the franchises submit the list of players being released, with the deadline being November 15.
While the mega auction was held in two days in February, the mini auction will be completed in just one day. Smaller auctions in the past, however, have produced some very expensive buys, particularly in the category of overseas players.
Three teams – Punjab, Delhi and Lucknow – bought just seven foreign players in the 2022 auction, as they look to fill the eighth and final slot. Six franchises also brought in injury replacements last season and must decide whether to retain the replacement player or the original player, or both if player limits allow.
