The Indian Badminton League (IBL) is all set to hold its first players auctions here on July 19 with more than 150 shuttlers expected to go under the hammer for 66 slots in six teams.
Each franchisee can feature 11 players, including a maximum of four foreign shuttlers and one under-19 player from their catchment area.
There will be a total of six icon players starting with a base price of USD 50,000 in the auction, for whom franchisee will bid from draw of lots. Indian stars Saina Nehwal, Jwala Gutta, Ashwini Ponnappa, Parupalli Kashyap and P V Sindhu will have icon status in the auction, while a leading foreign star will be the sixth icon player.
Each franchisee will be allotted a maximum of Rs 1.5 crore to bid for players with the icon player receiving 10 per cent more than the highest-bid player in the team.
The top national players and their international counterparts from 17 badminton nations have confirmed their participation. The final date for entering the players' auction is July 5.
The top four franchisee in the IBL will clash in the semifinals and the winners will meet in the final on August 31 to be held in Mumbai.
The auction will be conducted by London-based auctioneer Bob Hayton, who is well known for his association with Bid & Hammer Fine Art Auctioneers.
"I am looking forward to adding the auctioneering 'sparkle & theatre' to the IBL Players Auction. It's a proud moment for me," said Hayton.
The USD 1-million IBL is set to launch on August 14 with some high-voltage action expected between Hyderabad Hotshots and Karnataka Kings. The 2013 IBL featuring six franchises will run for 18 days. Each franchise will host a two-day leg and the League will showcase a grand total of 90 matches.
The matches will be held during late afternoon and evening to coincide with prime time television and provide a convenient time for the stadium audience.