IPL teams are poised to spend big at the upcoming 'mega-auction' in Saudi Arabia

The Indian Premier League (IPL) kicks off its "mega-auction" on Sunday in Saudi Arabia, with teams ready to spend millions on top-tier cricketers for the highly lucrative Twenty20 competition.

A total of 574 players are available, with notable names such as Indian wicketkeeper Rishabh Pant, England's James Anderson, and New Zealand all-rounder Rachin Ravindra among those up for grabs at the two-day auction in Jeddah.

Australian fast bowler Mitchell Starc made headlines at the last auction, setting a record when he joined Kolkata Knight Riders for $2.98 million. With an increase in the tournament's salary cap, there's a possibility his price could be surpassed this time. The auction will be broadcast live to a global audience of millions.

"It's time for lights, camera... auction!" the IPL said on social media, marking the start of the two-day bidding event, which begins at 0930 GMT.

"It's a nerve-wracking experience, no doubt," said former New Zealand captain Stephen Fleming, now coach of Chennai Super Kings. "When you do manage to sleep, you end up dreaming about players and numbers. It’s a tough few days because it means so much."

Rajasthan Royals coach Rahul Dravid emphasized that while thorough preparation is key, the unpredictable nature of the auction requires adaptability. "You can prepare... have discussions about players and strategies," he said. "But realistically, you need to think on your feet."

Punjab Kings coach Ricky Ponting, the former Australian captain, added that keeping a calm head during the auction is crucial. "Staying composed and clear at the auction table is essential," he said.

Since its inception in 2008, the IPL has generated billions in revenue, making the Board of Control for Cricket in India (BCCI) one of the wealthiest governing bodies in sports. In June 2022, the BCCI sold the broadcast rights for five IPL seasons to global media companies for $6.2 billion.

In an effort to increase the tournament’s global profile, the BCCI has taken the auction abroad. After holding it in Dubai last year, this year’s event is in Jeddah, Saudi Arabia, where there is a large fan base among the migrant worker population. Hosting the auction in Saudi Arabia is seen as beneficial for both the IPL, which is expanding globally, and the kingdom, which is using sports to improve its international image.

Crown Prince Mohammed bin Salman, who has made massive investments in sports to diversify the country’s oil-dependent economy, is a key backer of the initiative, with plans for Saudi Arabia to host the football World Cup in 2034.

However, the kingdom has faced criticism over its human rights record and the 2018 murder of journalist Jamal Khashoggi, with some accusing Saudi Arabia of using sports to distract from these issues. Still, Prince Saud bin Mishal, chairman of the Saudi Cricket Federation, insisted that hosting the auction demonstrates the kingdom’s commitment to developing cricket and establishing itself as a global sports hub.

The IPL remains a significant contributor to the Indian economy, generating more than $11 billion annually. The tournament has also played a pivotal role in popularizing Twenty20 cricket worldwide, inspiring similar events across the globe.

While the dates for next year’s IPL season have yet to be announced, the tournament typically runs from March to May.