IPL 2014 auctions live: Yuvraj to RCB for Rs. 14 crore, KP to DD for Rs. 9 crore

The two-day player auctions for the Indian Premier League 2014 begins on Wednesday. Will KP walk away with the highest price? Or will ...

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The two-day player auctions for the Indian Premier League 2014 begins on Wednesday. Will KP walk away with the highest price? Or will Sehwag be a surprise big buy? Catch all the live updates from the player auctions here.

# The list of first set of marquee players:

- Murali Vijay to Delhi Daredevils (Rs. 5 crore)

- Kevin Pietersen to Delhi Daredevils (Rs. 9 crore using right-to-match after Sunrisers won the bid)

- Jacques Kallis to Kolkata Knight Riders (Rs. 5.50 crore)

- Yuvraj Singh goes for the highest price so far. Rs 14. crore to Royal Challengers Bangalore.

- Virender Sehwag to Kings XI Punjab (Rs. 3.2 crore)

- Mitchell Johnson to Kings XI Punjab (Rs. 6.5 crore)

- David Warner to Sunrisers Hyderabad (Rs. 5.5 crore)

- Mahela Jayawardene goes unsold.

# SOLD! Mitchell Johnson will play for Kings XI Punjab for Rs. 6.5 crore.

# Kings XI Punjab also enter the race now. It has swiftly gone past the Rs. 5 crore-mark.

# Delhi Daredevils and Chennai Super Kings start off the bidding war.

# Mitchell Johnson will be the next player to bid for.

# SOLD! David Warner goes to Sunrisers Hyderabad for Rs. 5.50 crore.

# The Sunrisers Hyderabad enter the race now.

# Mumbai Indians open the bidding at Rs. 1.50 crore.

# David Warner is up next.

# SOLD! Virender Sehwag to KXIP Rs.3.20 crore.

# It's still between KXIP and MI here. Delhi will be watching keenly. They still have two more joker cards to utilise.

# KXIP put in the opening bid at the last minute. Mumbai Indians come in next.

# Virender Sehwag is next player in.

# Chennai bag Kallis for Rs. 5.5 crore. But, the Kolkata Knight Riders have matched the bid and prise him  away.

# KKR come in next. It's down to CSK and KKR now.

# Chennai open the bidding for Kallis. Delhi enter the race but stop at Rs. 2.8 crore.

# Jacques Kallis is next up!

# SOLD! Yuvraj Singh sold to RCB for Rs. 14 crore.

# Almost sold but there's confusion! Bangalore seemed to have won the bid for Rs. 10 crore and the Kolkata Knight Riders had entered the bidding.

# Royal Challengers Bangalore enter the bidding now. The bidding has gone past Pietersen's value.

# Yuvraj Singh is next up. Kings XI Punjab and Rajasthan Royals tussle for him. His base price is Rs. 2 crore.

# SOLD! Sunrisers buy him for Rs. 9 crore but the Delhi Daredevils use the 'right-to-match' card.

# Sunrisers enter the race now.

# Chennai Super Kings open the bidding and Kings XI Punjab match.

# The big fish, Kevin Pietersen is next.

# No takers for Jayawardene! He remains UNSOLD for now.

# Mahela Jayawardene is the next player. His base price is also Rs. 2 crore.

# SOLD! Delhi Daredevils make the first purchase this year! Murali Vijay for Rs. 5 crores.

# Sunrisers Hyderabad enter the race with a bid of Rs. 3.20 crore.

# Mumbai Indians also come into the bidding now.

#  Chennai Super Kings open the bidding but Delhi Daredevils have raised it to Rs. 2.20 crore.

# Murali Vijay is the first one to be auctioned. His base price is Rs. 2 crore.

# Ranjib Biswal will make the draw for the first set of marquee players.

# Richard Madley will be the auctioneer. He is currently reading out the rules. A 'Right-to-match' card is placed on every franchise's table.

# Rahul Dravid is seated on the table with the Rajasthan Royals, Anil Kumble with the Mumbai Indians.

# Team managements are making their way towards their tables. Just moments away from the start of the auctions.

# As it stands, Chennai Super Kings, Mumbai Indians and Rajasthan Royals have retained five players, Royal Challengers Bangalore have retained three, Kolkata Knight Riders, Sunrisers Hyderabad and Kings XI Punjab have retained two each while the Delhi Daredevils have released all their players. (Read all the latest news on IPL 2014)

# As many as 514 players will go under the hammer - 219 capped (169 Indian and 50 overseas) and 292 uncapped (255 Indian and 37 overseas). For the first time, the uncapped players are also going to be up for grabs in the auctions.Live, Kevin Pietersen

# For the first time in IPL, the players will be valued in Indian currency (INR) instead of the US dollars. The highest base price for players for this year's auction is Rs. 2 crore (List of players valued at highest base price)

# It's that time of the year when the think tank at each of the eight franchises showcase their prowess at picking the best possible players to form a winning combination. It's time for the IPL player auctions!(Read Preview here)

# All the teams have already submitted their list of players retained and a lot can be understood about their strategy from these lists. (Read: The list of players retained).

# New Zealand's Corey Anderson will be one to watch out for during the auctions, but the player himself has said that he is scared of watching his auction. On the other hand, Virender Sehwag is very relaxed about his chances.

Win-win situation for Kevin Pietersen

There are two very fascinating scenarios. Pietersen, who was recently dropped by the England and Wales Cricket Board, will now be available for the entire season. The Delhi Daredevils, whose roster he was a part of in 2013, will want to consider getting him back via 'right-to-match' card. If more than two or three teams vie for him, his price is bound to go up by a big margin. In this situation, the Delhi Daredevils could be at an advantage as they could get him much cheaper than what they would have paid for him via retention (Rs. 12.5 crore). Given his immense talent and the impact KP can have in the shorter format of the game, Delhi will look to set a certain upper limit and look to prise him away from the potential suitors who win the bid. It will be a profitable acquisition for Delhi as it is highly unlikely that a team will be ready to bid in excess of Rs. 12.5 crore for him, thereby giving Delhi an opportunity to cut some costs on him. Even if the Delhi franchise do not see him as a part of their project, a vigorous bidding war will only mean inflated price and a win-win situation for the maverick Pietersen.

New season, new auction, new rules

A number of changes have been drafted for the 2014 season of IPL along with other rules.

1. For the first time, the players will be valued in Indian rupees during the player auction instead of the US dollars which was used in the first six seasons.

2. For the first time in the history of IPL player auction, even uncapped Indian players will be auctioned.

3. As many as 514 players will go under the hammer - 219 capped (169 Indian and 50 overseas) and 292 uncapped (255 Indian and 37 overseas).

4. The list of 50 overseas players also includes two Associate Nation cricketers -- Niall O'Brien from Ireland and Ryan ten Doeschate from Netherlands.

5. Among the 219 capped players, 46 Indians have been valued at top base price of Rs 2 crore each.

The 'Joker Card' debut

Adding more intrigue and excitement to the upcoming player auction, the IPL board has introduced a new feature called the 'right to match' option, also known as the 'Joker Card'.

According to this feature, a team can bring back a player who was part of its franchise last year but wasn't one of the players retained by them. A team can exercise this option the moment a particular player is deemed 'sold' to another franchise. Once the player is 'sold', the auctioneer will give the old franchise a chance to use their 'right-to-match' option, by which they can bring back the player with a matching bid amount.

A clause to the retention system states that no team can retain or buy back (using Joker card), more than four capped Indian players from their previous squad. For instance, the Chennai Super Kings have retained four capped Indian players (MS Dhoni, Suresh Raina, Ravindra Jadeja and Ravichandran Ashwin). If they wish to hire the services of Murali Vijay once again, they cannot exercise their 'Right-to-Match' option. They will have to make the highest bid and not merely match it.

The following is the breakdown for number of players that can be brought back using 'right to match' option depending on the number of players retained by each side.

1. If three or more players are retained, 'right-to-match' option can be used on one player.

2. If one or two players are retained, 'right-to-match' option can be used on two players.

3. If no player is retained, 'right-to-match' option can be used on three players.

4. Mumbai Indians, Chennai Super Kings, Royal Challengers Bangalore and Rajasthan Royals can use the Joker card on 1 player,  Kings XI Punjab, Kolkata Knight Riders and Sunrisers Hyderabad can buy back two while Delhi Daredevils can reclaim three.

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