HERE WE GO! It is that time of the year when calculations, strategies and business minds collide at one venue - the IPL Auction 2024. The auction may be a mini-auction, but the suspense and action that await are beyond all bounds. As we prepare for the spectacular event, here’s everything MI you need to know ahead of the shopping extravaganza:

So, when and where is it happening?

On December 19, 2023, at the Coca-Cola Arena in the world-renowned city of Dubai. It’s set to begin at 11.30am local time (1.00pm IST). Fun fact: This will be the first time an IPL Auction is held outside India.

What type of auction is this? Mega or Mini?

Well, this is an IPL mini-auction - similar to the one we had last December.

Okay, please explain how it would work!

Here you go: The short-listed players for the IPL Auction 2024 list have been sectioned into 19 sets based on their specialisation: batter, allrounder, fast bowler, spinner, and wicketkeeper. Capped and uncapped players will alternate after a few sets.

The highest price bracket is set at 2 crore INR, with 23 players included in this list. Are there any Indian players in this list? Yes - Harshal Patel, Shardul Thakur and Umesh Yadav. This is followed by slabs of 1.5 crore INR, 1 crore INR, 75 lakhs INR, 50 lakhs INR, 40 lakhs INR, 30 lakhs INR and 20 lakhs INR.

And how many of the players have registered for this?

A total of 333 players will go under the hammer to find suitable buyers, of which 214 are Indians, and 119 are overseas talents. Two players are from Associate nations.

We heard there would be a new Auctioneer this time around?

Yes. There is a new IPL auctioneer in Mallika Sagar. Does the name sound familiar? Well, you may have seen her leading the auction process for the WPL for both of its editions. She takes over from Hugh Edmeades - the gavel master for IPL auctions since 2018.

Which players have we retained ahead of IPL 2024?

Going into the IPL 2024 campaign, Mumbai Indians have a squad of 17 players - Akash Madhwal, Arjun Tendulkar, Dewald Brevis, Ishan Kishan, Jason Behrendorff, Jasprit Bumrah, Kumar Kartikeya Singh, Tilak Varma, Nehal Wadhera, Piyush Chawla, Rohit Sharma, Shams Mulani, Surya Kumar Yadav, Tim David, and Vishnu Vinod.

Hardik Pandya - our new skipper - was traded in from GT, and Cameron Green, was traded out to RCB.

What’s the total count of players we are allowed to buy?

A maximum of eight (four Indians, four foreigners). The maximum squad size for any team is 25 players, and the minimum is 18.

What’s the purse value we are left with?

17.75 crore INR. This tally is measured by the funds generated from the release of Jofra Archer (8 crore INR), Chris Jordan (2 crore INR), Jhye Richardson and Riley Meredith (1.5 crore INR each), and Sandeep Warrier (50 lakh INR). Mohd. Arshad Khan, Tristan Stubbs, Ramandeep Singh, Raghav Goyal, Hrithik Shokeen and Duan Jansen were all signed for their base prices of 20 lakhs INR each.

And, coupled with the trade deals (Cameron Green to RCB - 17.5 crore INR, Hardik Pandya from GT - 15 crore INR, Romario Shepherd from LSG - 50 lakh INR), our purse for the IPL Auction 2024 stands at 12.75 crore INR. This increases to 17.75 crore INR with the additional 5 crore INR added to every team’s purse by the IPL for the 2024 Auction.

Right, what does the Paltan need to do?

Here is where you come in, Paltan. Don your analytical hats, bring out those calculators, and tell us your auction strategy in the comments that could aid us in welcoming new members to our Fa-MI-ly. Quick, we don’t have a lot of time!