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What is the mega auction? Is that similar to free agency in North American sports?
Not very same as agency but the process is same except the players aren't transferred mid tournament.
The auction is done in a controlled manner by the Cricket Board of India. Every team is allocated a purse to buy players. The highest paid player for this year got $3203320.50
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How is it determined which players will be available in the mega auction?
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Players are given a chance to submit their availability before the auction. Also, IPL gets a window of 45 days when almost no international cricket is played by big teams.
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