IPL 2014 review

Who was worth the money

A look at the best and the worst buys from the auction based on players' performance in IPL 2014

Shiva Jayaraman

June 2, 2014

Comments: 38 | Text size: A | A

Akshar Patel in his delivery stride, Kolkata Knight Riders v Kings XI Punjab, IPL 2014, final, June 1, 2014
Akshar Patel of Kings XI Punjab might well have been the most profitable buy of the IPL auctions. © BCCI
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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
Kolkat Knight Riders
Chennai Super Kings
Rajasthan Royals
Mumbai Indians
Sunrisers Hyderabad
Royal Challengers Bangalore
Delhi Daredevils
* Auction costs might vary slightly from the actuals owing to replacements during the tournament

Shiva Jayaraman is a sub-editor (stats) at ESPNcricinfo.com

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© ESPN Sports Media Ltd.

Posted by SPotnis on (June 7, 2014, 14:28 GMT)

Yuvraj purchased for multi crores, that's a joke of the decade. He was good at one time, today he is just an another player.

Also money does not buy championships, have the owners forgotten that.

Posted by Rally_Windies on (June 5, 2014, 16:15 GMT)

I would like to see what Mumbai's ROI was if you remove Simmons from the equation ! That would give a much better picture of how poorly they did in the auction ... !

Posted by   on (June 5, 2014, 1:13 GMT)

There should also be an additional multiplier for those batsmen batting from positions 5 to 7 who end up not out in a winning cause. This adds importance to the middle order batsmen in strong teams who perform reliably in the finishing role but who otherwise don't get an opportunity to accrue large volumes of runs due to being in a reasonably strong team. Guys like Miller, Dhoni, Yadav and Shakib who score runs when required but didn't always get a chance due to the strength of their team.

Posted by Bashman on (June 4, 2014, 20:38 GMT)

Good simple analysis. Needs a little tweaking. Example....how to account for misfile dings, dropped catches,missed stumpings etc. that penalise a bowler.

Posted by StevieS on (June 4, 2014, 7:55 GMT)

I don't think it is that simple, many would say Corey Anderson was a flop but he in the sole reason they won their last game in quick time to make the top 4, now how much is it worth to make it to the Champions League?

Posted by wapuser on (June 4, 2014, 5:43 GMT)

Didnt agree with Nampally.. U cannot judge any captain by their recent games Rohit n Gambhir were good for only second half of the tournament.they were flop for the first half I think Bailey n Dhoni were far beter captain both of above.They lead their team well throughout the tournment despite of not winning trophy.

Posted by   on (June 4, 2014, 4:20 GMT)

well analysis by Shiva, good job.

Posted by Nampally on (June 3, 2014, 20:14 GMT)

Excellent analysis which gives one an idea of their performances. A similar analysis should have been carried out for the Team Captaincy. There were 2 guys who stood out. 1. Gambhir - who carried KKR from the verge of elimination from the playoff spot to winning the IPL 7 Championship. 2. Rohit Sharma for MI team when his team lost every game in UAE leg of the IPL 7 but came back strongly to reach the last 4 with 8 wins in Indian leg. On the poor side were : 1. Shane Watson for RR- this team had 7 wins & with one more win needed to qualify, blew it in the last 3 matches by experimenting with the XI + batting order + bowlers. 2. Bailey who was exceptionally good but in the Final messed up his batting order+ bowlers selected & paid the penalty with a loss . Dhoni as a Captain could not carry his much hyped CSK into the Final. Kohli who is tipped to succeed Dhoni as Captain of the Indian team also failed badly as a Captain. Males Rohit Sharma & Gambhir the front runners for Captaincy!

Posted by C4Six on (June 3, 2014, 18:50 GMT)

please send this analysis to RCB and MI

Posted by British_North_America on (June 3, 2014, 16:48 GMT)

Although this article makes some good points, one thing is not clear is the number of opportunity a players gets.As far as batting is concerned, a player who comes down at 6 or 7 will never get the chance to score enough runs.Look at Jadeja, who scored only 146 runs, even Shakib could score past 300 if he played at number 3 and played all the matches, he could even have had more wickets.Also Indian players will get more value because 7 slots are allotted for Indians while foreigners receive only 4 slots.The brand value of KP, Maxwell, Naraine can also not be ignored because owners make profit from sponsors, not from the tournament prize money.

Posted by   on (June 3, 2014, 16:47 GMT)

Excellent!!! This anaylsis should be used for the next auction.

Posted by   on (June 3, 2014, 16:32 GMT)

A good effort.Cricket still remains a team game and when individuals contribute to the team needs need not be valued high or lower. That was the situation team in so collectively they were responsible for the situation. From that point of view rating a Sehwag or Pathan innings OR Tambe's hat-trick is not necessary in the larger scheme of things. Having said that ignoring the fielding aspects is wrong. I think all caught and stumping dismissals should go to bowler and fielder in some ratio, may be 50/50. All run-outs should have shared value additions be it direct hit or assisted through a throw, and in case of run-out a 50/50 split will be fine. The missed catches should probably go as a negative catch + out penalty to the fielder.

Posted by ramz30380 on (June 3, 2014, 16:03 GMT)

This looks like the P/L account! Rightfully as accepted in the article some players' contribution cannot be calculated as the value tht they add for a particular win may be way more than tht of others high scores or wickets.

A Chawla's knock in the final may have been more crucial than Yusuf Pathan's though Yusuf scored more than him... such things are invaluable and u cannot do justice to these players thru this calculation...

Someone like a Gambhir, contributed more as a captain, likewise MSD, Bailey, etc. Captain's contributions cud have been considered according to the win/loss ratio of such teams.

Posted by Trompo on (June 3, 2014, 15:04 GMT)

Shiva, I like the analysis, however I think instead of taking the difference between total value and cost, I would take the ratio value and cost. What it does is to take into account value relative to cost. A 1 crore player is expected to perform 10 times better than a 10 lac player, the ratio gives the comparison.

Posted by sachadon on (June 3, 2014, 15:00 GMT)

Excellent analysis. Well done!!

Posted by niazbhi on (June 3, 2014, 14:22 GMT)

I love that you are trying to come up with a value. There are a few things missing. Malinga played 10 matches.Sakin played 12 or 13. Total wickets mean nothing,its wickets per game for bowlers who played significant number of matches/ Or SR. Also total run should have less value for the same reason. Someone like Yusuf, Yadav, has more value than Pandey because they came in late in the order still generated run. Look how Maxwell or Uthappa were struggling in the late order. How Duminy and Warner contributed much less winnings being in the late order. How mumbai turned around with batting order changes. Also indian players and foreign players cannot be compared for values. I would take Bumrah over Malinga for the same value because we can only play 4 foreign players.

Posted by wapuser on (June 3, 2014, 13:19 GMT)

This may not give perfect worth of player but it certainly gives an idea to team owner that what we think is always the past and to know the future we should focus player present and not the past achievement.

Posted by wapuser on (June 3, 2014, 12:30 GMT)

Please bear in mind Gambhir was retained as captain and he marshalled his troops phenomenally. He was comfortably the best captain tactically of this IPL, how do you quantify that? Cricket is too dynamic to try explain everything statistically.

Posted by   on (June 3, 2014, 12:02 GMT)

An effort such as this one, at quantifying the performances of players on the field, only goes to validate the belief of the naysayers that this tournament has had to face severe criticism from, since its inception. True, that teams pay hefty money to buy players and hope to extract maximum benefits from them. However there is more to the dynamics of cricket than just petty "financial returns" talk. Glorifying a couple of players based on a couple of performances while completely shunning a few others, or worse, labeling them as the author has done as "unattractive buys", is outrageous. Sandeep Sharma turned in 3 fine performances in the UAE leg but bombed in the Indian half. GG led his team to the title with brilliant, aggressive captaincy. Similarly, Pathan's knock of 72, or Sehwag's hundred turned out to be far more profitable than some other innings that went into the glorification of players on these lists. The author pointed out the folly in this by himself. Cue: Paragraph 2

Posted by   on (June 3, 2014, 12:01 GMT)

MS Dhoni does NOT appear in the list... :):)

Posted by stopfixing on (June 3, 2014, 11:58 GMT)

superv........excellent analysis by the writer.. I think this will help the team management to buy players in next year.. hahaha

Posted by bharatratna on (June 3, 2014, 11:16 GMT)

Excellent and innovative analysis. Well done to the author for thinking outside the box.

Posted by   on (June 3, 2014, 10:50 GMT)

whatever team yuvi played for have finished bottom , second last rtc

Posted by natarsx on (June 3, 2014, 10:30 GMT)

It is interesting to note that the top 3 teams as per your report were the same top 3 except the fourth one. It should have been RR but for Anderson's blinder innings!!. Should MI not get additional weightage for being in the top 4 and get a chance to play in CL T20?

Posted by rizwan1981 on (June 3, 2014, 9:14 GMT)

SHIVA , Perfectly reasonable and rational analysis . is it possible to have a look at the completed excel file please ?

Posted by CricketMaan on (June 3, 2014, 9:05 GMT)

Gambhir fishing outside off an nicking is still a concern. His ability to leave that 5th or 6th stump line is still in quesiton. He will have those nervous moments if he gets to bat in England. If he cannot get over that habit that he has developed in the last 2 years, his Test career might end abruptly. Very surprised to see Aaron in Tests over Yadav as Varun is still not 100% fit for test matches.

Posted by srriaj317 on (June 3, 2014, 9:01 GMT)

A useful article though a couple of points - in paragraph 4, it has been assumed that the auction money was equally split between runs and wickets return. However, I believe more batsmen than bowlers were bought in the auction so the actual cost of runs & wickets may not be equal and needs to be checked. This may have resulted in wickets being over-priced in the analysis which could be a reason why the lists are dominated by bowlers.

Also should wicket-keepers contributions be paid? I've also heard that despite a player's auction price, their salaries are paid pro-rata depending on how many games they play- does anyone know if this is true? If so, the player performances may have to be normalised to a per match figure - Gayle has very low returns also because he played fewer games than others.

Thanks for the article though! :) Would be interesting to see if teams use similar models prior auctions. And whether they know that player price and returns are don't follow a linear model.

Posted by   on (June 3, 2014, 9:01 GMT)

Pravin Tambe should be given at least 20 L bonus by his franchise. And the next year his value should be no less than 50 L. If RR owners have any fairness , they should implement this.

Posted by   on (June 3, 2014, 8:47 GMT)

Good work, but performances should be on all fields of players (like captaincy, fielding, catches & wicket keeping etc.)

Posted by akajaria on (June 3, 2014, 8:43 GMT)

Regarding the second part of your analysis: Team wise, one can look at what they spent and how they ended up. Of course, some arbitrary figures need to be added predicting what the teams may have actually spent on retention (e.g. Vohra possibly retained for 1-1.5 Cr, whereas Kohli & Gayle for 18-20 Cr each) based on what auctioned players got.

Would love to see an analysis such as this if you can do so.

Posted by   on (June 3, 2014, 8:34 GMT)

How did Yuvraj Fare? considering he was the most expensive pick

Posted by Dysan25 on (June 3, 2014, 8:32 GMT)

This is more like Year-End Appraisal for the Players.

Posted by wapuser on (June 3, 2014, 8:23 GMT)

Some guys always repays the faith shown to him.....But goes Un-noticed....Finally good to see that Shakib was really a profitable venture for KKR...I always thought KKR luckily got him for Almost the lowest price for the standard he brings into the side.....These stats just Proved me Right.......

Posted by ferdous06 on (June 3, 2014, 8:08 GMT)

Excellent work!! Yes, it should be done every year.

Posted by   on (June 3, 2014, 7:53 GMT)

Excellent analysis of Cricket in finance point if view...!!!

Posted by Kohmaria on (June 3, 2014, 7:52 GMT)

Well, have to say that's a bit harsh on Gambhir to top the bottom five list as Value for his captaincy is not considered on the cards here.

Posted by Cricketfan11111 on (June 3, 2014, 7:42 GMT)

What ever? Hope some financial minds understand your take on IPL economy.

Posted by   on (June 3, 2014, 7:41 GMT)

This method is brillant. This should be done for every season of the IPL from now on. Too often players are measured by their price tag rather than what they truly bring to the team.

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Shiva JayaramanClose
Shiva Jayaraman is a sub-editor (stats) at ESPNcricinfo.com
Tournament Results
KKR v Kings XI at Bangalore - Jun 1, 2014
KKR won by 3 wickets
Super Kings v Kings XI at Mumbai - May 30, 2014
Kings XI won by 24 runs
Super Kings v Mum Indians at Mumbai (BS) - May 28, 2014
Super Kings won by 7 wickets
Kings XI v KKR at Kolkata - May 27-28, 2014
KKR won by 28 runs
Mum Indians v Royals at Mumbai - May 25, 2014
Mum Indians won by 5 wickets
Kings XI v Daredevils at Mohali - May 25, 2014
Kings XI won by 7 wickets
More results »
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