IPL 2024: How Do IPL Players Get Paid? – A Complete Breakdown
The Indian Premier League (IPL) 2024 has been a blockbuster this season. It’s been raining fours and sixes through the tournament. In the IPL 2024 auction, a lot of money was spent on players, especially two Australian champions who made a big impact. Australian captain Pat Cummins made history by getting a bid of INR 20 crore, the first-ever player to cross the 20 crore mark in the history of the tournament. Another star player, Mitchell Starc, amazed everyone, earning INR 24.74 crore. Undoubtedly, in the IPL, players get paid big bucks. Teams bid for them in an auction where bidding starts at a set price. The team that bids the highest gets the player, and the bid amount becomes the player’s salary for that season. This money is solely for the player, with no other claims on it. Each player’s salary is for one season only. So, if a player is bought for Rs 10 crore, they get that amount for one season. If they sign a multi-year contract, like three years, they get paid Rs 10 crore per season, depending on their availability. The BCCI, which organizes the IPL, gives 20% of a player’s earnings to their home cricket board. For example, if an Australian player is bought for Rs 10 crore, 2 crore goes to Cricket Australia. This comes from the IPL’s revenue pool. In the early days of the IPL, bid amounts and salaries were in US dollars, but later changed to Indian rupees. If a player is bought for one season and then retained for the next, their salary stays the same unless the team decides to give them a raise. How and when players get paid depends on the team’s finances. Some teams pay players all at once, while others split it, like 50% before the tournament and 50% during. Some use a 15-65-20 formula, paying 15% before the tournament, 65% during, and the remaining 20% afterward. The Sportz Planet Desk,Atharva Shetye. Also read : https://thesportzplanet.com/ipl-2024-prize-money-breakdown-paycheque-individual-awards-full-details/
