'Joker's card' a new concept in Indian Premier League auction
Franchises can retain five players from 2014. However, teams also have the option of retaining additional players by using the Joker's card.
Undermining the impact of fresh auctions, the Indian Premier League governing council has reportedly proposed to allow teams to retain a maximum of five players from 2014. The franchises can spend upto Rs 39 crores on the top-five players. This amount will be deducted from the total purse of Rs 60 crores.
According to reports, the top player in the select-five can earn Rs 12.5 crores a year for three years.
In another interesting proposal, the IPL governing council has also floated a system called 'Joker's card'. If a team wants to retain more than five players, it can use the card. It also means whichever team bids highest for this cricketer, the original franchise/employer will have first right of refusal. Teams that retain all five players can play as many as three 'Joker cards' while those who do not retain any of their players can play five of them.
The IPL governing council is likely to meet later this week to reach a final decision on the proposal.