Auction of players for IPL 4 in January

MUMBAI - The Indian Premier League (IPL) Governing Council, which met here on Wednesday, announced that the auction of the players for the 2011 season will be held on January 8 and 9 in Mumbai.

Board of Control for Cricket in India (BCCI) Vice President Rajiv Shukla told reporters that the meeting was held to discuss preparations and auctioning of players for the fourth edition of the IPL.

He also noted there were no discussions held on Kochi team, as the deadline of one month given to that franchisee has not expired.

“Today’s meeting was held to discuss about the preparations for IPL-4. Players will be auctioned on January 8 and 9 in Mumbai. No issues related to Kochi team were discussed today,” said Shukla.

According to new rules, which are being contradicted by the franchisees, a team can keep up to four players, which will likely cost fortune to them.

The price for the first player would be $1.8 million against the salary cap of $9 million, regardless of the amount the player is actually paid. The second player will cost $1.3 million, the third $900,000 and the fourth $500,000.

The tournament itself will feature eight teams, playing 60 matches, and run from April 8 to May 22. (ANI)