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How Rachin Ravindra can become an overnight millionaire

Will Toogood,
Publish Date
Wed, 22 Nov 2023, 4:56PM

How Rachin Ravindra can become an overnight millionaire

Will Toogood,
Publish Date
Wed, 22 Nov 2023, 4:56PM

As the fireworks fade from the Cricket World Cup, Rachin Ravindra has time now to reflect on one of the great individual tournaments.

578 runs at an average of 64.22, strike rate of 106.44 and a top score of 123* are the kind of numbers expected from the Virat Kohlis, Kane Williamsons or Steve Smiths of the cricketing world - not from a 23-year-old in their first World Cup.

Ravindra therefore may not have as much time on his hands as he would have before his World Cup performance. Indian media are reporting he is poised to be the most sought-after player in the Indian Premier League auction, to be held this December in Dubai.

“Ravindra offers three skills. He can bat well, he can be used as a floater in the top order, he can bowl well and he’s a good fielder too,” an IPL franchise official told Times of India.

“I will not be surprised if he gets sold for around Rs 7-8 crores ($1.5 million) in the auction. What adds to his appeal is that he is a desi (of Indian origin), and that always adds to your appeal in the IPL,” another source told Times of India.

Speaking after the Black Caps win over Sri Lanka at the World Cup, Ravindra said he had spoken with teammates Devon Conway and Kane Williamson, who have played in the IPL, ahead of the tournament.

“Talk to Devon, talk to Kane who have played in the IPL, get golden nuggets from them whenever I can. Still water under the bridge and we will be watching those games. I idolised Kane, idolised a lot of guys in this World Cup, Kohli, Root, Steve Smith and I felt ooh, I’m playing with them. I’m lucky to have that freedom from the guys”, he said after the match.

A history of performance in Indian conditions will always push a player’s value higher in an IPL auction and with an increased purse limit available for teams in the 2024 edition, Ravindra could fetch a hefty fee for his services.

Rachin Ravindra celebrates his century against Pakistan. Photo / AP
Rachin Ravindra celebrates his century against Pakistan. Photo / AP

How does the IPL auction work?

For the first time the BCCI have announced the IPL Auction will be held outside India at Coca-Cola Arena in Dubai on December 19. Each team will enter the bidding process with a Rs 100 crore ($20 million) war chest, a bump of Rs 5 crore from last year’s Rs 95 crore.

The final purse available for teams will likely differ as they enter the auction due to player retention and releases - some players will enter the final year of the three-year contracts before next season’s mega auction.

The amount paid at the auction is the amount paid for the season. For example, if Ravindra is bought for Rs 8 crores or $1.5 million, then that is how much he will be paid for the 2024 season. The contracts are for three years, so he would be entitled to Rs 24 crore or $4.7 million.

“The contract is for three years, renewable after every year. The player payment is as per the bid amount payable each year. The franchisee has to pay for the bid amount,” said an IPL team official.

All the players in an IPL squad are paid their full contract regardless of whether they are selected in the XI or not.

“It doesn’t matter whether the player is selected in the playing XI or not. Even if he doesn’t play a single match, he will get the full amount which was mentioned in the IPL auction once he reports to the team at the specified date before the start of the IPL and stays till the end,” said former IPL chief operating officer Ratnakar Shetty.

When foreign players are purchased, their national organisation receives 20 per cent of their IPL earnings which is paid by the BCCI and the franchise.

Will Toogood is an online sports editor for the NZ Herald. He has previously worked for Newstalk ZB’s digital team and at Waiheke’s Gulf News, covering sports and events.

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