"I was telling someone that the salary cap of a team when IPL started in 2008 was 20 crores, the entire salary cap."
~ KKR CEO Venky Mysore after picking Mitchell Starc at 24.75 crores
The IPL 2024 mini auction witnessed some breathtaking bidding war among the franchise. Lots of records were broken and history was created in the auction. For the first time ever we witnessed a player getting a bid of 20 crores in IPL. It didn't stop there and just a few minutes later we witnessed another player crossing that 20 crores barrier.
Sam Curran was the most expensive player in the history of IPL. He got a whopping 18.5 crores in last year's IPL auction where he was picked by Punjab Kings. This year it was Pat Cummins who not only overtook Sam Curran but also became the first ever player to cross that 20 crores barrier. On November 19, Pat Cummins became a world cup winning captain and exactly a month later on December 19, he was picked by Sunrisers Hyderabad for 20.50 crores.
But this record didn't stay for too long when in the same auction hall Pat Cummins' national teammate Mitchell Starc joined the party and went on to overtake his skipper. Mitchell Starc was bought for 24.75 crores by Kolkata Knight Riders and became the most expensive buy in IPL history. Interestingly, Starc is making a return to the IPL after 8 long years. In the 2018 mega auction also he was picked by the same franchise Kolkata Knight Riders but he had to pull out of the IPL due to injury.
Now let's look at some numbers that state the massive difference between 2008 IPL auction and 2024 IPL auction. The Board of Control for Cricket in India (BCCI) brought a revolution in world cricket when they introduced this league back in 2008. The auction process was very new for the cricketing world. In 2008, the salary cap for each team was $5 million which roughly calculates around 20 crores in Indian Rupees. The IPL 2024 auction saw a single player getting sold for over 20 crores which was the entire salary cap for a team in 2008. The salary cap for a team in 2024 was 100 crores.
The journey from 20 crores salary cap for each team to 100 crores salary cap lies between many mega auctions conducted in a span of 17 years. MS Dhoni was the highest paid player in 2008 where he was picked by Chennai Super Kings for $1.5 million (approximately 6 crores). The next IPL mega auction was conducted in 2011 where the salary cap for each team was $9 million ( approximately 40 crores). This time the salary cap was almost double of the previous mega auction in 2008. Gautam Gambhir was the most expensive player of this auction who got $2.4 million (approximately 11.04 crores) from Kolkata Knight Riders. The next IPL mega auction took place in the year 2014 where the salary cap for each team was set at 60 crores. Yuvraj Singh was the most expensive buy in that year's auction. He was picked at 14 crores by Royal Challengers Bangalore. The salary cap from 60 crores in 2014 went up to 66 crores in 2017. The next mega auction came in 2018, the same year when Chennai Super Kings and Rajasthan Royals were making a comeback after serving their two year ban. The salary cap for each team this time was 80 crores which was double of the 2014 mega auction and four times of the 2008 auction. Ben Stokes was the most expensive player of IPL 2018 who was picked by Rajasthan Royals for 12.5 crores. The next IPL mega auction was conducted in the year 2022 where the salary cap for each team was 90 crores. Ishan Kishan was the most expensive buy of the auction who was picked for 15.25 crores by Mumbai Indians.
The salary cap increased for 2023 auction to 95 crores and then finally for 2024 IPL auction the salary cap was set at 100 crores for each team. Thanks to the increase in salary cap this year the epic 20 crores barrier was crossed by two Australian greats, Pat Cummins and Mitchell Starc. This is how the Indian Premier League covered its journey from 20 crores to 100 crores salary cap for each team. A whopping growth of 400% in 17 years of IPL history.
