Why Shubman Gill took a pay cut for Titans

Gujarat Titans captain Shubman Gill has decided to take a pay cut and will be the second player retained by the IPL franchise ahead of the October 31 deadline.

Gill led Titans for the first time this season and both he and the management are now keen to retain the core group of players. The first retention for the franchise would be star spinner Rashid Khan, followed by Gill, Sai Sudharsan and two uncapped players in Rahul Tewatia and Shahrukh Khan.

Titans will also have the option of retaining another squad member via the right to match card at the mega auction next month. Gill is seen a future leader in the Indian cricket setup.

"Gill has decided to take a pay cut to ensure the core players are retained and build a stronger team," an IPL source said.

Titans had acquired Gill for Rs 8 crore ahead of the 2022 season.

Considering that he has agreed for lesser pay ahead of the mega auction, Rashid is set to be the costliest retention of the franchise. Details of their exact pay package are yet to be worked out.

As per the IPL retention guidelines released ahead of the mega auction, a team will lose Rs 18 crore from the increased purse of Rs 120 crore for the first player retained, Rs 14 crore for second, Rs 11 crore for the third while for the uncapped players, a team will have to shell out Rs 4 crore each.

If a team retains five capped players, they will lose Rs 75 crore from the auction pot.

The mega auction is likely to be held overseas in the last week of November. The auction purse has been increased to Rs 120 crore from the Rs 100 crore that the teams had at their disposal at last year's auction.

The total salary cap now comprises an auction purse, incremental performance pay and match fees. The match fee, set at Rs 7.5 lakh per game, has been introduced ahead of the next season.

The teams can retain up to six players, via retention or right to match, from the existing squad, the highest in IPL history.

The 25-year-old Gill has appeared in 103 IPL matches and averages close to 38 with a strike rate of 129.