Indian wicketkeeper Rishabh Pant on Sunday became the most expensive player in the history of the Indian Premier League when he was sold for a record $3.2 million, as teams embarked on world-class cricketers for the lucrative Twenty20 tournament.
A total of 577 players are up for grabs in the two-day auction in Jeddah, with Pant, England veteran James Anderson and New Zealand all-rounder Rachin Ravindra among the top names.
The 2023 record of Rs 247.5 million that Kolkata paid to Australian Mitchell Starc was broken for the first time by the Punjab Kings, who, according to the IPL, bought Shreyas Iyer for the ‘handsome’ sum of 267.5 million rupees ($3.17 million).
Iyer, 29, led Kolkata Knight Riders to their third IPL crown this year.
But this record quickly fell.
The IPL has reported that Lucknow Super Giants have paid a “mammoth” sum of Rs 270 million for 27-year-old star keeper Rishabh Pant.
The auction started on a scorching note when Indian quick Arshdeep Singh’s name sparked a bidding war, which ended with Punjab getting the left-arm bowler for $2.13 million.
This year, Australian left-arm quick Starc was not retained by Kolkata – and went to Delhi Capitals for $1.39 million.
Gujarat Titans paid $1.87 million for England skipper Jos Buttler, while Indian bowler Mohammed Shami went to Sunrisers Hyderabad for $1.18 million.
Shami, 34, has recovered from a foot injury and is expected to join the Test team in the ongoing series in Australia.
– “Immense enthusiasm” –
Before the auction began, Rajasthan Royals coach Rahul Dravid said the managers had done the groundwork but the auction that day meant nothing could be taken for granted.
“You can prepare…you have a lot of discussions around the players and the tactics you might employ,” Dravid said, according to IPL.
“But to be realistic, you have to be able to think a little.”
Punjab Kings coach Ricky Ponting, a former Australian skipper, said there was “huge excitement” but it was essential to maintain composure during the auction.
“I think being really, really calm and really clear at the bidding table is a really important thing,” Ponting said.
The IPL has generated billions in revenue since its inception in 2008, making the Board of Control for Cricket in India (BCCI) one of the sport’s richest governing bodies.
In June 2022, it sold the broadcast rights of five IPL seasons to global media giants for $6.2 billion.
The BCCI sought to widen the profile of the tournament by holding the auction abroad.
Last year it was held in Dubai, a regular host to international cricket tournaments.
Like Saudi Arabia, it has a large potential fan base among its migrant worker population.
Holding the auction in Jeddah is seen as a win-win situation for a tournament expanding its global reach and a kingdom using the sport to improve its image.
Crown Prince Mohammed bin Salman, the de facto ruler, has backed extravagant sports investments – Saudi Arabia is the only candidate to host the FIFA World Cup in 2034 – to diversify its oil-rich economy.
Critics point to Saudi Arabia’s human rights record and the killing of journalist Jamal Khashoggi at the Saudi consulate in Istanbul in 2018, accusing the kingdom of “sportswashing”.
But Saudi Cricket Federation president Prince Saud bin Mishal said hosting the auction reflected the kingdom’s “commitment to developing the sport and showcasing its position as a global destination for sporting events.
The IPL is a huge revenue generator for Indian cricket and the tournament brings in over $11 billion to the economy every year.
The pioneering IPL helped make Twenty20 cricket hugely popular, spawning copycat events around the world.
Dates for next year’s IPL have not been released, but seasons typically run from March to May.
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