A look at the best and the worst buys from the
auction based on players' performance in IPL 2014
Yuvraj Singh made news during the
auction for being the most expensive purchase of the IPL, at INR 14 crore,
while Pravin Tambe - one of the leading wicket-takers in this IPL - received no
bids from other teams before being retained by Rajasthan Royals with a
right-to-match card that depleted their purse by only INR 10 lakh. How did
these buys fare for the teams? Who ended up being the most profitable purchase
of the IPL? Which team spent their purse money most productively? This piece
makes an attempt at answering such questions.
Performance on the cricket field is
not easily quantifiable: it cannot be measured purely by the runs scored by a
batsman or the wickets taken by a bowler. A quickfire 30 in a crunch situation
of a chase may turn out to be of greater value than a 60 earlier in the
innings. A wicket of an in-form opposition batsman might carry more value than
the wicket of a tail-ender. And there is the question of how to value
wicketkeepers' contributions, fielding efforts, catches taken etc. Surely, the
catches taken by Kieron Pollard and Chris Lynn would be worth a few crores, if
not more?
This piece aims to give the readers a reasonable
idea about who were the top buys and the worst punts in this IPL season.
To this end, only the runs scored, strike rates, wickets taken, and the economy
rates have been taken into account to come up with a return on investment value
for each player and thereby, for each team. The context in which the batsmen
scored their runs and bowlers took their wickets have not been taken into
account, and neither have been their fielding contributions.
An aggregate of 17922 runs were scored from the
bat in this IPL and 606 wickets were taken by the bowlers - an average of 29.57
for each wicket. Roughly translated, each wicket that a bowler took in this IPL
was worth 29.57 runs. A total of INR 468.1 crore was spent on buying players in
this IPL, which means that every run scored was worth INR 1,30,594 and every
wicket taken was worth INR 38,62,211. Each batsman earned value (or generated
returns) based on how many runs he scored and at what strike rate. If his
strike rate was less than the overall tournament strike rate, the number of
runs scored by him were weighted down to a value lower than the actual runs he
scored and vice versa. Similarly for bowlers, the number of wickets were
weighted up or down based on the economy rate.
For example, Shakib Al Hasan scored 227 runs at
a strike rate of 149.3. His strike rate was a good 20% better than the
tournament's average strike rate of 129.0, so he is credited with more runs
than he actually scored, which works out to 256. This multiplied by the value
of each run - INR1,30,594 - means he generated a batting value of INR 3.34
crore. Similarly, Shakib took 11 wickets at an economy of 6.68, which was much
better than the tournament economy rate of 8.01 runs per over. So his 11
wickets are weighted up for his better economy and get him returns equivalent
to 12.8 wickets. The bowling value he generates is 12.8 multiplied by the value
of each wicket, i.e. INR 38,62,611, which works out to INR 4.95 crore. The
total notional money he generates for his team is the sum of his batting and
bowling values - INR 8.30 crore. This minus the price at which Shakib was
bought by Kolkata Knight Riders will give the gains made by the team
by investing on him. This figure works out to INR 5.50 crore.
Kings XI Punjab's Akshar Patel leads - by some
distance - the list of players who generated the maximum gains for their
respective teams. He took 17 wickets at an excellent economy rate
of 6.14, which boosted the total value he generated for his team to INR 8.97
crore. Kings XI bought him for a sum of INR 75 lakh and made a profit of INR
8.22 crore - the most any team profited from a single player. Six bowlers make
it to the top ten of this list. Lendl Simmons - cost to the team assumed at his
base price of INR 50 lakh - and Glenn Maxwell are the only players who make the
top ten based purely on their batting performance. Shakib and JP Duminy take
the remaining two places in the top ten on the back of their all-round show.
TOP TEN AUCTION INVESTMENTS IPL 2014, IN
INR CRORES
|
|||||||||
Player
|
Runs
|
SR
|
Batting Value
|
Wkts
|
Eco
|
Bowling Value
|
Total Value
|
Cost
|
Returns
|
Akshar Patel
|
62
|
103
|
0.63
|
17
|
6.14
|
8.34
|
8.97
|
0.75
|
8.22
|
Mohit Sharma
|
1
|
33
|
0.00
|
23
|
8.40
|
8.25
|
8.25
|
2.00
|
6.25
|
Pravin Tambe
|
5
|
56
|
0.02
|
15
|
7.27
|
6.22
|
6.24
|
0.10
|
6.14
|
Shakib-Al-Hasan
|
227
|
149
|
3.34
|
11
|
6.68
|
4.95
|
8.30
|
2.80
|
5.50
|
Sandeep Sharma
|
2
|
40
|
0.00
|
18
|
8.81
|
6.15
|
6.15
|
0.85
|
5.30
|
Lendl Simmons*
|
394
|
135
|
5.26
|
1
|
11.33
|
0.27
|
5.53
|
0.36
|
5.17
|
Yuzvendra Chahal
|
1
|
100
|
0.00
|
12
|
7.02
|
5.15
|
5.15
|
0.10
|
5.14
|
Bhuvneshwar Kumar
|
1
|
25
|
0.00
|
20
|
6.66
|
9.04
|
9.04
|
4.25
|
4.79
|
JP Duminy
|
410
|
134
|
5.43
|
3
|
7.27
|
1.24
|
6.67
|
2.20
|
4.47
|
Glenn Maxwell
|
552
|
188
|
10.22
|
1
|
12.00
|
0.25
|
10.47
|
6.00
|
4.47
|
* Lendl Simmons' auction price has been
assumed at his base price of INR0.5Cr
Knight Riders' skipper Gautam Gambhir was the
most unattractive buy of this season, given the high price at which
he was retained for by the team. His 335 runs in the tournament came at a
strike rate of 114.33, well below the average for the tournament, and generated
only INR 3.78 crore. India internationals Dinesh Karthik,
Virat Kohli and Shikhar Dhawan went for INR 12.5 crore each, but couldn't
generate enough value for their teams, thus ending up at the bottom of the
table. Chris Gayle - who was retained for INR 9.5 crore and failed to come good
for his team - rounds off the bottom five. Yuvraj, the most expensive player of
this IPL, just escaped being in the bottom five. His performances created
notional money worth INR 6.84 Crores for his team, but his high auction price
meant that he ran a deficit of INR 7.16 Crores, ending up at the seventh place
from the bottom.
BOTTOM FIVE AUCTION INVESTMENTS IPL 2014,
IN INR CRORES
|
|||||||||
Player
|
Runs
|
SR
|
Batting Value
|
Wkts
|
Eco
|
Bowling Value
|
Total Value
|
Cost
|
Returns
|
Gautam Gambhir
|
335
|
114
|
3.78
|
0
|
0.00
|
0.00
|
3.78
|
12.50
|
-8.72
|
Dinesh Karthik
|
325
|
126
|
4.04
|
0
|
0.00
|
0.00
|
4.04
|
12.50
|
-8.46
|
Virat Kohli
|
359
|
122
|
4.32
|
0
|
0.00
|
0.00
|
4.32
|
12.50
|
-8.17
|
Shikhar Dhawan
|
377
|
118
|
4.39
|
0
|
0.00
|
0.00
|
4.39
|
12.50
|
-8.11
|
Chris Gayle
|
196
|
106
|
2.06
|
0
|
0.00
|
0.00
|
2.06
|
9.50
|
-7.44
|
While the above two tables give us a sense of who the most
profitable and unprofitable purchases in the auction were, these may not be the
best and the worst players this year. The players can control their base price,
but can't control the upper limit, which depends on the dynamics of the
auction. So, it makes sense to see who generated the most value (made the most
money for their teams) without penalising them for their auction prices.
This list is led by Glenn Maxwell. His 552 runs at a strike rate
of 187.7 - almost 59 more than the tournament average - meant that he was one
of two players to cross the INR 10.0 crore mark. Sunil Narine, with his 21
wickets at an economy rate of 6.36, was the only other player whose performance
was worth more than INR 10.0 crore. This year's top runscorer Robin Uthappa
slots in at No.5 in this list and is one of the three players - along with
Maxwell and Dwayne Smith - to weigh in purely on his batting performance.
TOP PEFORMERS IPL 2014, BY VALUE CREATED (IN INR
CRORES)
|
|||||||
Player
|
Runs
|
SR
|
Batting Value
|
Wkts
|
Eco
|
Bowling Value
|
Total Value
|
Glenn Maxwell
|
552
|
188
|
10.22
|
1
|
12.00
|
0.25
|
10.47
|
Sunil Narine
|
10
|
71
|
0.07
|
21
|
6.36
|
9.94
|
10.01
|
Bhuvneshwar Kumar
|
1
|
25
|
0.00
|
20
|
6.66
|
9.05
|
9.05
|
Akshar Patel
|
62
|
103
|
0.63
|
17
|
6.14
|
8.34
|
8.97
|
Robin Uthappa
|
660
|
138
|
8.97
|
0
|
0.00
|
0.00
|
8.97
|
Ravindra Jadeja
|
146
|
133
|
1.91
|
19
|
8.15
|
7.02
|
8.93
|
Dwayne Smith
|
566
|
136
|
7.59
|
4
|
9.50
|
1.27
|
8.86
|
Shakib-Al-Hasan
|
227
|
149
|
3.34
|
11
|
6.68
|
4.96
|
8.30
|
Mohit Sharma
|
1
|
33
|
0.00
|
23
|
8.40
|
8.25
|
8.25
|
Suresh Raina
|
523
|
146
|
7.51
|
1
|
7.44
|
0.40
|
7.92
|
And finally, a look at how the teams themselves
fared in terms of the returns they got from the purse money they
invested in building their teams. Not surprisingly, Kings XI Punjab made the
most profitable buys, getting a whopping 52% return on investment (ROI). The
other finalists, Knight Riders were a distant second in this list with an ROI
of 12.9%, followed by Chennai Super Kings at 11.8%. Mumbai
Indians got to the playoffs despite their negative ROI of 6.3% and, in
line with their shocking exit from the tournament, Rajasthan Royals failed to
make the playoffs in spite of an ROI of 4.6%. The other three teams returned
negative ROIs, with Delhi Daredevils being the most unprofitable of the lot, at
a ROI of - 28.1%.
TEAMS AND THEIR ROIs
|
||||
Team
|
Auction Costs (INR Cr)*
|
Value Created (INR Cr)
|
Gains (INR Cr)
|
ROI
|
Kings XI Punjab
|
52.60
|
79.73
|
27.13
|
51.6%
|
Kolkat Knight Riders
|
57.90
|
65.37
|
7.47
|
12.9%
|
Chennai Super Kings
|
59.58
|
66.60
|
7.01
|
11.8%
|
Rajasthan Royals
|
53.85
|
56.32
|
2.47
|
4.6%
|
Mumbai Indians
|
59.70
|
55.96
|
-3.74
|
-6.3%
|
Sunrisers Hyderabad
|
57.70
|
50.74
|
-6.95
|
-12.0%
|
Royal Challengers
Bangalore
|
60.00
|
50.65
|
-9.35
|
-15.6%
|
Delhi Daredevils
|
59.42
|
42.71
|
-16.72
|
-28.1%
|
* Auction costs might vary slightly from the actuals owing to
replacements during the tournament
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