IPL 2023 Auction: What is the purse value for each franchise ahead of IPL 2023 Retention?

With the conclusion of the T20 World Cup 2022, eyeballs have shifted toward the biggest cricket league in the world with its new season slated to begin in a few months from now. Preparations for the 2023 edition of the Indian Premier League (IPL) are in full swing with all ten franchises expected to submit the list of their retained players in a couple of days. A mini-auction is scheduled to take place sometime in December, where teams will engage in a bidding war to acquire the services of big-name players from all over the globe. 

Ahead of the IPL 2023 mini-auction, let's take a look at the purse value of each franchise. IPL teams will have Rs 5 crore to spend on players in the mini-auction in addition to the money left in their purses from last year's auction. 

Amount of money left in the purse for each IPL team

Punjab Kings and Gujarat Titans had the most money remaining in their purse at the end of the IPL 2022 mega auction, followed by Chennai Super Kings. Royal Challengers Bangalore is another franchise with over Rs. 1.5 crore left in their purse. One of the two new teams, the Lucknow Super Giants, had spent every penny of their allotted Rs. 90 crore in the auction the previous year.

• Gujarat Titans: INR 3.45 crore
• Rajasthan Royals: INR 0.15 crore
• Royal Challengers Bangalore: INR 1.55 crore
• Lucknow Super Giants: Zero
• Delhi Capitals: INR 0.10 crore
• Sunrisers Hyderabad: INR 0.10 crore
• Kolkata Knight Riders: INR 0.45 crore
• Punjab Kings: INR 3.45 crore
• Chennai Super Kings: INR 2.95 crore
• Mumbai Indians: INR 0.10 crore

IPL media rights sold for a record sum

The Indian Premier League (IPL) has become one of the richest sports properties in the world following a massive deal earlier this year that saw its TV and digital rights getting sold for over $6 billion. Disney+Hotstar was able to retain the Indian subcontinent TV rights for Rs 23,575 crores, while Viacom18 secured the digital rights of the same region for Rs 20,500 crore. The Board of Control for Cricket India (BCCI) has said that the IPL will return to its old home and away format from next season onwards. 

Image: IPL