Asking how ipl 2024 players get their salary can be answered only with the help of below aspects.The IPL is a cricketing spectacle that enthralls fans worldwide. But behind the glamour lies a complex financial ecosystem, particularly when it comes to player salaries. Unlike traditional contracts, IPL teams don’t simply sign players and pay them later. Let’s delve into the fascinating world of IPL player payments and see how the money ball gets tossed around.
Auction
The foundation of IPL payments lies in the annual auction. Here, franchises go head-to-head, bidding for the players they desire. The winning bid becomes the player’s salary for the season. This isn’t a lump sum, though. The BCCI recommends a structured approach to ensure financial security for players.
IPL teams pay their players in installments:
- 10% in advance – Before the first IPL match 10% of the player’s salary is given to them providing an initial wealth cushion for players.
- 60% of the salary is given along with the season matches. Particularly it can’t be said when they give money during season as it vary from franchise to franchise.
- The rest of the money is given afterward or after the IPL season is over.
But It’s important to know that the deduction of tax is also deducted from the auction price. 10% of the auction price is deducted for Indian Players while 20% of the tax is deducted for overseas players.
Signing Bonus:
Some franchises might offer a signing bonus on top of the auction price. This can be seen as an advance payment, but it’s separate from the salary itself.
Security Deposit:
In rare cases, a team may request a security deposit from an overseas player to cover potential contract breaches or unforeseen circumstances. This deposit would be returned at the end of the contract, assuming the player fulfills their obligations
The IPL player payment system is designed to ensure financial stability for both players and franchises. The installment plan provides players with a steady income stream throughout the season, while the BCCI guidelines offer a framework for fair and transparent transactions. So, the next time you witness an IPL bidding war, remember, it’s not just about acquiring talent; it’s about strategically managing a complex financial game.
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