IPL 2014 New Auction Rules Going to Held on 12 February

IPL 2014 Auction Rules- Auction for Ipl 2014 is going to held on 12 of February. All the team owners wants to buy the best players for their team. All IPL teams already announced their player retention list. Delhi is the only team which has not retained any player, which means we can see completely different team of delhi in upcoming IPL 2014.
On 24 December 2013, the IPL Governing Council finalized the Player Regulations for the 2014 season.[3] All teams will be allowed to retain a maximum of five players (at most four Indian capped players) and the rest of the players will go into the auction pool.
Take look at the List of Player Retained
Player Retention Rule- From the Total Rs. 60 crore salary cap, teams will have to pay up Rs. 12.5 crores for the first retained player, Rs.9.5 crores for the second, Rs. 7.5 crores for third and Rs. 5.5 crores and Rs. 4 crores for the fourth and fifth players.

The new change in this year auction is that the auction will be in Indian Rupees rather than United States dollars. The auction will be held in Bangalore.

IPL 7 bring some new changes in this year auctions like

All player fees will be denominated in Indian rupees but overseas players may choose to be paid in another currency.
"rights to match", which allows teams to purchase a player from their 2013 squad in the auction by matching the highest bid.
The players' salaries will not include their fees for participation in the Champions League Twenty20. Teams who qualify will pay each player who represents them an additional 10% of his IPL fee. Previously, players who qualified for the CLT20 with their IPL team had to forfeit 20% of their IPL salary to represent another team.

The Governing Council of the Indian Premier League (IPL) has introduced a new 'joker' rule that has the potential to suit a set of teams and go on to defeat the purpose of having a complete reshuffle.

The joker’s card is an option that gives a team, the first right of refusal. The team can make use of it and buy back a player in the auction, once it is complete, by matching the bid that has been placed on him.

IPL Auction Rules 2014

The franchises will be allotted a budget of Rs 60 crore.
If a team retains all the five players, it will have to shell out Rs 39 crore out of the total purse of Rs 60 crore.
A team can also get back one of its players, either an Indian uncapped player or a foreigner, in the auction through the newly introduced joker’s card.
The joker’s card is an option that gives a team, the first right of refusal. The team can make use of it and buy back a player in the auction, once it is complete, by matching the bid that has been placed on him.
If a team retains three to five players, it will be given one joker’s card. However, if a team holds back only one or two players, it can have two joker’s cards. In case of a team not retaining any of its players, it will be given three joker’s cards, according to Times of India.
The salary paid to the player(s) retained through a joker’s card will be deducted from its purse of 60 crore.
When it comes to retention, a team retaining five cricketers should make sure at least one Indian or foreign cricketer makes the list. It could either be four Indian players and one foreigner or four foreigners and one Indian player.

The Player Auction will be held in the Mysore Hall, ITC Gardenia, Bengaluru, on 12 February 2014 (and on 13 February 2014, if required). The proceedings will commence at 9:30 am sharp on 12 February 2014.