The auction for the Indian Premier League will be held on December 23 in Kochi.

As a result of this auction, the total purse has increased to 95 crore (about $11.5 million), with each team receiving an extra 5 crore to spend.

The auction for the Indian Premier League will be held on December 23 in Kochi.

The player auction for the 2023 season of the Indian Premier League will take place in Kochi on December 23. The auction will take place. In contrast to the massive sale that took place in the years leading up to the 2022 competition, when each of the ten franchises was forced to essentially start from scratch in terms of putting together their squads, this next auction will be rather small.

A number of cities, including Istanbul, Bengaluru, New Delhi, Mumbai, and Hyderabad, were all in the running for the job of auction host. The city on the coast of Kerala was one of those cities. However, in the end, the BCCI decided to conduct the tournament at the city that is located in the state of Kerala.

This brings the total amount of money up for sale to INR 95 crore, which is about US $11.5 million. Each team will have an extra INR 5 crore (approximately US $607,000) to spend at this auction. This sum is in addition to the money that was unspent from their last auction purse as well as the worth of the players that they will be making available.

The Punjab Kings had the most money remaining in their purse after the auction from the previous year, which was INR 3.45 crore (about $425,000 in American currency), while the Lucknow Super Giants had spent their entire purse. The remaining prize money was distributed as follows, after Chennai Super Kings had won INR 2.95 crore (approximately US $358,000), Royal Challengers Bangalore had won INR 1.55 crore (approximately US $188,000), Rajasthan Royals had won INR 0.95 crore (approximately US $115,000), and Kolkata Knight Riders had won INR 0.45 crore (approximately US $55,000).

The reigning champions, the Gujarat Titans, were left with INR 0.15 crore (about US $18,000), while three other teams, including Mumbai Indians, Sunrisers Hyderabad, and Delhi Capitals, got INR 0.10 crore (about $12,000).

It is expected that the Indian Premier League (IPL) would finalise the player pool for the auction some time around the beginning of December after the clubs have submitted the list of players who are being released by the deadline of November 15.

In contrast to the massive auction that took place in February, which was done over the course of two days, the smaller sale that is going to take place will only last for one day. Mini auctions, on the other hand, have historically produced some of the most expensive agreements, notably in the category of deals involving players from other countries.

This year, clubs have a great deal of interest in finding out if all-rounders Ben Stokes, Sam Curran, and Cameron Green would offer their services for auction. If they do, there is a significant likelihood that there will be a lot of demand for them because of the limited supply that is now available.

At the 2022 auction, three teams—Punjab, Delhi, and Lucknow—bought a total of only seven players from overseas, which indicates that they may still be searching for an eighth player to fill up the eighth and final slot in the team's lineup. In addition, injured replacements were brought in for the previous season by six different teams throughout that time period. It will be up to these teams to decide whether they want to maintain the replacement player, the original player, or both of them (if the player limit allows for it).