The Daredevils are looking for a pace bowler to complement Indian left-armer Ashish Nehra after Australian great Glenn McGrath had his $350,000 contract bought out.
The Knight Riders could also consider Bond a perfect fit as a new ball partner for Ishant Sharma, reports the New Zealand Herald.
Spending will be down for this auction because each team now has a salary cap of $750,000. Around 12 players are expected to be added from the 51 on the auction list with no team allowed more than 10 non-Indian recruits in their squad.
Bond faces fast bowling competition from the likes of Peter Siddle, Doug Bollinger, Wayne Parnell, Kemar Roach and Mohammad Aamer.
"I'm sure it will be a more relaxed environment than international cricket. Twenty20 gives you more down-time to get to know your team-mates. Just playing the shorter version will be ideal before the Twenty20 World Cup in the Caribbean," says Bond, who will earn most of any figure he commands by being available for almost all of the IPL, thanks to his retirement from test cricket.
Bond, like Daniel Vettori and Ross Taylor, is also understood to be in demand for the English county limited overs competition.
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