IPL Auction 2023: What is a silent tie-breaker bid in IPL auction?

IPL 2023 Mini Auction: The Indian Premier League 2023 auctions is currently underway at hotel Grand Hyatt in Kochi. A total of 405 players will go under the hammer. This season the Board of Control for Cricket in India (BCCI) has reintroduced the tie-breaker rule.

What is Tie-Break Rule?

If franchisees make a matching bid for the player, then the auctioneer will declare the player "sold" at a league fee for 2023 as per the amount of the last bid. The auctioneer will invoke the tiebreak procedure to determine which Franchisee will sign the player for 2023.

How will Tie-break rule work?

BCCI will invite each Franchisee who makes the matching bid for the player along with the franchisee who made the Last Bid to each submit a written bid (not disclosed--the "Tiebreak Bid").

As per BCCI, the tiebreak bid is the amount, payable in one instalment that the Franchisee is prepared to pay to BCCI in order to secure the player's services for the IPL 2023 season.

The amount of the tiebreak bid is separate from and in addition to the amount of the Last Bid or the amount of the Matching Bid as appropriate, both of which constitute the bid for the player.

The tiebreak bid is the separate amount, which the Franchisee is prepared to pay to BCCI and is not deducted from the relevant Franchisee's Salary Cap. There is no limit on the amount of the Tiebreak Bid.

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Later, written tiebreak bids will be opened by BCCI and the player will be awarded to the Franchisee who made the highest Tiebreak Bid.

In case, two or more highest tiebreak bids are equal, then highest bidders will be invited to repeat the process until there is a winner. The tiebreak bid amount will not be announced.

The winning Franchisee then will enter into a standard form IPL Player Contract with the player with a League Fee in the amount of its Last Bid or Matching Bid as appropriate and will commit to pay to BCCI within 30 days of the Player Auction the amount of its Tiebreak Bid.

The rule will be applicable when two franchises are locked in a similar bid for a player and lack the requisite funds to outright secure his services.

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