Sehwag was accorded the iconic status by the IPL governing council at a meeting of the eight franchise owners.

“Delhi (GMR Holdings) persisted with the request and seven of the eight franchises voted in favour. GMR was the interested party and hence it did not vote. Sehwag has given his consent and his price will be $400,000. Hyderabad (Deccan Chronicle) withdrew the request for an iconic player,” said Lalit Modi, Chairman and Commissioner, IPL.

The iconic players will not be put for auction, but the other Indian players contracted with the BCCI will be available.

“They needed a clarification with regard to payment of money. They have been assured that in the event of the franchises defaulting, the BCCI will make good the money. Australia’s tour of Pakistan has not been called off and hence the Australian players, who have not retired will not be put for auction tomorrow,” said Mr. Modi.

“The player auction rules is our attempt to make the auction a huge success. The Governing Council of the DLF IPL is pulling out all stops to ensure a free, transparent and fair bidding process for a truly historic first ever auction of cricketers in India. I am certain all the franchises would greatly benefit from this transparency and appreciate our efforts in this direction.” Modi said.

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