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Wednesday, January 2, 2013

IPL 2013 auction..... and that of 2G spectrum

‘come under the hammer’ or ‘fall under the hammer’ are phrases which refers to something being auctioned.   The word "auction" is derived from the Latin augeō which means "I increase" or "I augment".  In market, there are fixed price shops and there are shops where you bargain, buy in the end and still rue thinking that you could have bought for a lower price !! An auction is a process of buying and selling goods or services by offering them up for bid, taking bids, and then selling the item to the highest bidder, though there are some variants too….

Ever participated in an auction; and do you know Richard Madley, who earned a lot selling players ~ yes, not things but Cricketers.  Richard Madley, who lives in Biddestone and works for Dreweatts in Bristol,  did it in 2008 for Indian Premier League, when 8 teams spent over $40 million in eight hours to ‘own’ 75 best cricket players in the world;  he was back in 2011 and again on 4th Feb 2012 conducting the  IPL Player Auction 2012, at the ITC Royal Gardenia Hotel, Bengaluru. Not sure whether things would change after the dismal performance of India abroad and now at home ! ~ will IPL continue to attract crowds and mint money as it has been ?

With all speculations, the player auction ahead of the Indian Premier League's sixth season is to be held on February 3. The decision was conveyed to all nine franchise representatives during a workshop in Jodhpur. Later in the day, IPL chief executive Sundar Raman tweeted the news.  The venue is yet to be finalized but sure would be a big hotel in a Metro.  The auction, which is likely to see 37 players going under the hammer, was earlier expected to be held on January 12. However, the IPL authorities decided not to let it clash with India's one-day series against England (from January 11-27).

The glitzy IPL is considered to be World’s showcase of T20; the richest cricket tournament being held.  On November 2012 with a bid of Rs.396.8 crores, Pepsi won the title sponsorship of the Indian Premier League (IPL) for the next five years. The league will now be called the Pepsi IPL from its sixth season.   IPL 2012 saw 9 teams featuring in the edition after the termination of the Kochi franchise.  There was DD; KKR; MI; CSK; RCB; KXi; RR, DC and PWI. Delhi Daredevils, Kolkata Knight Riders, Mumbai Indians and Chennai Super Kings qualified for the playoffs; in the finals KKR won the match in the last over; in fact 14 o the matches went till the last over.  

For IPL 2013, no Deccan Chargers, which is now  Sunrisers Hyderabad owned by Sun TV. It is reported that  Sun TV network had bid Rs 85.05 crores per year for a five-year deal, a week after Deccan Chargers was terminated due to prolonged financial issues.  For the new franchisee, Tom Moody, the former Sri Lanka coach and Australia allrounder, has been appointed coach.  Former national selection chief Kris Srikkanth will be its mentor and VVS Laxman its mentor-ambassador.  Besides Dale Steyn, it has Kumar Sangakkara (capt), Cameron White, Chris Lynn, Jean-Paul Duminy, Juan Theron.

Now, going back to Auction – the open ascending price auction, the most common form where participants bid openly against one another is called English auction.  There can be a prescribed minimum bid from where the auction starts; there is also the descending price auction, called Dutch auction.  In this, the auctioneer begins with a high asking price which is lowered until some participant is willing to accept the auctioneer's price.  There is also sealed first-price auction where all bidders simultaneously submit sealed bids so that no bidder knows the bid of any other participant.

On the auction that shook India violently ~ the 2G spectrum auction, there is fresh news that the Empowered group of ministers (EGoM) on spectrum, headed by P Chidambaram, is likely to meet next week to decide on the critical issue of compulsory participation of existing telecom companies like Bharti and Vodafone in the upcoming auction of second-generation (2G) airwaves according to NDTV. The government will auction the GSM (global system for mobile communications) spectrum in 900 MHz and 1800 MHz bands together for the Delhi, Mumbai and Kolkata circles, sometime in March next year.

With regards – S. Sampathkumar.
28th Dec 2012.

1 comment:

  1. YES IPL has been great deviation for some cricketers But it's been lifeline for some of them.. Most of us might agree with me that it has entertained us and even have increased interest in One day cricket and Now the pace of Test and One-day Games have fastened.Scores of 300 in one-day is easily scored and chased.