Competing franchises are invited to place secret bids in sealed envelopes, with the highest bidder winning the player. The player is paid an amount equal to the last matched bid, but additional earnings go to her IPL pool.
In an unlikely scenario, IPL officials are poised for a tiebreaker through secret bidding should teams run out of wallets. Competing franchises are invited to place secret bids in sealed envelopes, with the highest bidder winning the player. The player is paid an amount equal to the last matched bid, but additional earnings go to his IPL pool.
So far he has only 3 players purchased using this rule. At the 2010 auction, multiple franchises offered his $750,000 against Kieron Pollard and Shane Bond, the highest amount in a public auction. During the tiebreak, Mumbai secured Pollard while Kolkata signed Knight Riders Bond.
The 2012 auction resulted in a tie-breaker with Chennai Super Kings and Deccan his Chargers (now Sunrisers his Hyderabad) putting their entire purse ($2 million) into Ravindra jadeja’s bid. Chennai eventually signed Jadeja.