BCCI extend player retention deadline

January 25, 2011

The BCCI have extended the deadline for IPL franchises to announce their list of retained players; giving them an extra three days to make their decisions.

Reacting to the decision by independent arbitrator Justice B N Srikrishna to give the Rajasthan Royals a six week lifeline and allowing them to take part in the player auction the BCCI move the deadline to Wednesday, December 8th.

The retention rule, introduced by the BCCI during the summer means each franchise could lose up to $4.5 million of their $9 million salary cap for January’s player auction if they retain up to four players from their current squads.

A number of franchise were believed to be unhappy with the ruling which favours the larger teams who signed Indian legends like Sachin Tendulkar, MS Dhoni and Virender Sehwag.

Each team will be allowed to retain up to four players, but at a cost. The first player retained will cost a team $1.8 million; the second player will cost $1.3 million, the third $900,000 and the fourth $500,000.