Bangalore, Jan 13: Delhi Daredevils, who did not retain any of their players for the 2014 edition, will enter the Player Auction of the Indian Premier League (IPL 7) with maximum funds.
January 10 was the last date for franchises to announce their list of retained players. While 7 teams put out their choices, Daredevils chose to make a fresh start from this year.
Daredevils, in their line-up, had Kevin Pietersen, David Warner and Virender Sehwag among others. But they have preferred not to keep these explosive batsmen.
It will be interesting to see whether they will pick these players through "rights to match" in the auction to be held in Bangalore on February 12 and 13.
For the first time in seven years, the auction will have teams buying players in Rupees. Earlier, the currency was US dollars.
The maximum salary cap for each franchise is Rs 60 crores.
Here are the funds remaining for each franchise for the Player Auction next month
Chennai Super Kings - Rs 21 crores ( 5 retained)
Delhi Daredevils - Rs 60 crores (0)
Kings XI Punjab - Rs 43.5 crores (2)
Kolkata Knight Riders - Rs 38 crores (2)
Mumbai Indians - Rs 21 crores (5)
Rajasthan Royals - Rs 22.5 crores (5)
Royal Challengers Bangalore - Rs 30.5 crores (3)
Sunrisers Hyderabad - Rs 38 crores (2)
What is "right to match"
The "right to match" (RTM) is to be exercised as follows
# Once the bidding for any player who was in a franchise's 2013 squad is complete and the auctioneer is satisfied that no more bids will be forthcoming, the auctioneer will bring down the hammer, declare the player "sold" and then ask the relevant franchise if it wishes to exercise one of its remaining "rights to match"
# If the franchise chooses to exercise the "right to match", the franchise will take the player for the amount of the final bid that had been made in the Player Auction
# No further bidding by any other franchises is possible
# Franchises may take no more than 4 capped Indian players via a combination of retention prior to the auction and the "right to match".