The auction will be an open auction with each player being individually put up for bidding. There are around 140 players in the auction. Each player has an annual ?base player fee?.
Each team has a total balance of $1m that it can spend on the auction for 11 players for this season. Teams will not be able to make a bid that would take them beyond this total purse.
Players in the auction will be arranged into ?teirs? of approximately 7 according to their base player fee and their cricketing speciality.
For each player, the following information will be included: name, nationality, speciality and base player fee.
Bids one made may not be withdrawn. Increments in bids will be of $500.
Each auction will last for almost 24 hours, and after that the hightest bidder will own the player.
Players for whom no bids are received when they are initially presented for auction will be placed in a final set and will be re-presented for auction once all of the initial sets have been concluded.
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