Now that the fifth season of the Indian Premier League has ended, it is time to analyze which players were worth the money spent on them.
Here is how we went about putting a dollar figure on the player performance for this year’s IPL:
- First, we calculated the batting and bowling Runs Above Average (RAA) for all the players, and then converted the two RAA values to Wins. The procedure for computing RAA and Wins for a player was described in a previous blog post. Summing up the batting and bowling Wins of a player, we obtained the total Wins for the player.
- Next, we compiled the salary information of the IPL players. This turned out to be somewhat difficult, as the IPL itself does not officially release the player salary information. We were able to compile this information from third party sources, mostly from this Wikipedia page.
- The total money spent by the nine IPL franchisees on the players turns out to be $73,335,000. This is the total money that the teams spend on signing the players, and is not pro-rated according to the actual playing time of the players. Nevertheless, this figure is useful in arriving at a ballpark estimate of the player values.
- There were 76 total matches in the fifth season of the IPL. Each of the 9 teams were fighting for the same share of the 76 wins. Therefore the value of one win comes out to be $73,335,000 / 9 = $ 964,934 (almost a million dollars!)
- We multiply the value of a win to the total wins of a player to obtain the true value of the player. The players are then ranked based on this value. The table below shows the rank as well as the value of the player based on the Wins statistic.
| Rank | Player | Batting RAA | Bowling RAA | Total RAA | Total Wins | Actual Salary | Value |
|---|---|---|---|---|---|---|---|
| 1 | CH Gayle | 436 | -66 | 370 | 1.520 | 650,000 | 1,466,865 |
| 2 | SP Narine | -16 | 359 | 343 | 1.198 | 700,000 | 1,156,129 |
| 3 | S Dhawan | 220 | 30 | 251 | 0.992 | 300,000 | 957,311 |
| 4 | AM Rahane | 211 | 0 | 211 | 0.849 | 20,000 | 819,357 |
| 5 | G Gambhir | 193 | 0 | 193 | 0.774 | 2,400,000 | 746,510 |
| 6 | CL White | 205 | -27 | 178 | 0.729 | 1,100,000 | 703,416 |
| 7 | M Morkel | -47 | 259 | 212 | 0.721 | 475,000 | 695,670 |
| 8 | SL Malinga | -94 | 275 | 181 | 0.588 | 1,100,000 | 567,438 |
| 9 | BW Hilfenhaus | 0 | 165 | 165 | 0.578 | 100,000 | 557,836 |
| 10 | DJ Bravo | 173 | -35 | 138 | 0.571 | 200,000 | 551,322 |
| 11 | SPD Smith | 139 | -5 | 134 | 0.540 | 200,000 | 521,410 |
| 12 | KP Pietersen | 181 | -53 | 128 | 0.539 | 650,000 | 519,925 |
| 13 | L Balaji | 0 | 152 | 152 | 0.535 | 500,000 | 515,767 |
| 14 | AB de Villiers | 118 | 0 | 118 | 0.473 | 1,100,000 | 456,578 |
| 15 | DJ Hussey | 97 | 21 | 119 | 0.466 | 1,400,000 | 449,338 |
| 16 | OA Shah | 116 | 0 | 116 | 0.466 | 200,000 | 449,220 |
| 17 | SR Watson | 106 | 9 | 114 | 0.455 | 1,300,000 | 439,196 |
| 18 | AT Rayudu | 109 | 0 | 109 | 0.437 | 20,000 | 422,092 |
| 19 | DS Kulkarni | 10 | 107 | 117 | 0.415 | 20,000 | 400,807 |
| 20 | JP Duminy | 169 | -76 | 94 | 0.415 | 300,000 | 400,152 |
| 21 | M Muralitharan | -44 | 167 | 123 | 0.411 | 220,000 | 396,476 |
| 22 | P Awana | 4 | 111 | 115 | 0.406 | 20,000 | 391,720 |
| 23 | DW Steyn | -105 | 227 | 122 | 0.375 | 1,200,000 | 362,128 |
| 24 | KA Pollard | -3 | 105 | 101 | 0.355 | 900,000 | 342,326 |
| 25 | F du Plessis | 99 | -16 | 83 | 0.342 | 120,000 | 330,290 |
| 26 | K Cooper | -12 | 111 | 99 | 0.341 | 50,000 | 329,495 |
| 27 | V Sehwag | 122 | -45 | 77 | 0.330 | 1,800,000 | 318,444 |
| 28 | DA Warner | 82 | 0 | 82 | 0.328 | 750,000 | 316,667 |
| 29 | RJ Harris | -7 | 98 | 91 | 0.316 | 325,000 | 304,617 |
| 30 | RG Sharma | 84 | -16 | 68 | 0.283 | 2,000,000 | 272,945 |
| 31 | Shakib Al Hasan | -58 | 147 | 88 | 0.281 | 425,000 | 270,736 |
| 32 | AB McDonald | -3 | 81 | 79 | 0.275 | 80,000 | 264,887 |
| 33 | R Dravid | 64 | 0 | 64 | 0.256 | 500,000 | 246,574 |
| 34 | MEK Hussey | 62 | 0 | 62 | 0.248 | 425,000 | 239,551 |
| 35 | SE Marsh | 61 | 0 | 61 | 0.245 | 400,000 | 236,856 |
| 36 | MS Dhoni | 59 | 0 | 59 | 0.238 | 1,800,000 | 229,499 |
| 37 | DAJ Bracewell | 12 | 53 | 65 | 0.236 | 50,000 | 227,532 |
| 38 | BJ Hodge | 47 | 7 | 54 | 0.214 | 475,000 | 206,740 |
| 39 | MM Patel | 1 | 59 | 60 | 0.211 | 700,000 | 204,053 |
| 40 | AB Dinda | -23 | 86 | 63 | 0.211 | 375,000 | 203,535 |
| 41 | DB Das | 52 | 0 | 52 | 0.210 | 20,000 | 202,705 |
| 42 | SR Tendulkar | 50 | 0 | 50 | 0.201 | 1,800,000 | 194,226 |
| 43 | A Chandila | 0 | 56 | 56 | 0.198 | 20,000 | 190,996 |
| 44 | P Parameswaran | 0 | 55 | 55 | 0.194 | 20,000 | 187,607 |
| 45 | AC Gilchrist | 48 | 0 | 48 | 0.191 | 900,000 | 184,114 |
| 46 | Azhar Mahmood | -13 | 69 | 55 | 0.188 | 200,000 | 181,364 |
| 47 | JEC Franklin | -3 | 50 | 47 | 0.163 | 100,000 | 156,907 |
| 48 | DE Bollinger | -22 | 71 | 49 | 0.161 | 700,000 | 154,977 |
| 49 | MS Bisla | 39 | 0 | 39 | 0.155 | 20,000 | 150,022 |
| 50 | DPMD Jayawardene | 36 | 0 | 36 | 0.145 | 1,400,000 | 140,363 |
| 51 | Mandeep Singh | 34 | 0 | 34 | 0.135 | 20,000 | 130,310 |
| 52 | RV Uthappa | 32 | 0 | 32 | 0.127 | 2,100,000 | 122,166 |
| 53 | HH Gibbs | 31 | 0 | 31 | 0.125 | 50,000 | 120,927 |
| 54 | JH Kallis | 12 | 22 | 34 | 0.124 | 1,100,000 | 119,827 |
| 55 | UT Yadav | -48 | 89 | 41 | 0.120 | 20,000 | 116,223 |
| 56 | P Negi | -14 | 48 | 34 | 0.114 | 20,000 | 110,216 |
| 57 | SW Tait | 0 | 32 | 32 | 0.112 | 300,000 | 107,862 |
| 58 | DR Smith | 57 | -38 | 19 | 0.097 | 100,000 | 93,489 |
| 59 | DA Miller | 23 | 0 | 23 | 0.094 | 100,000 | 90,316 |
| 60 | KMDN Kulasekara | 5 | 20 | 25 | 0.090 | 100,000 | 86,767 |
| 61 | AD Mascarenhas | -61 | 94 | 34 | 0.087 | 100,000 | 84,365 |
| 62 | S Badrinath | 22 | 0 | 22 | 0.087 | 800,000 | 84,139 |
| 63 | S Anirudha | 20 | 0 | 20 | 0.080 | 20,000 | 77,509 |
| 64 | KP Appanna | 0 | 23 | 23 | 0.080 | 20,000 | 77,360 |
| 65 | Y Nagar | 29 | -10 | 19 | 0.079 | 20,000 | 76,588 |
| 66 | M Manhas | 19 | 0 | 19 | 0.078 | 20,000 | 75,208 |
| 67 | TM Dilshan | 86 | -77 | 9 | 0.074 | 650,000 | 71,595 |
| 68 | DT Christian | 22 | -5 | 16 | 0.068 | 900,000 | 65,617 |
| 69 | M Vijay | 14 | 0 | 14 | 0.058 | 900,000 | 55,496 |
| 70 | Pankaj Singh | 0 | 16 | 16 | 0.057 | 95,000 | 55,231 |
| 71 | Gurkeerat Singh | 11 | 0 | 11 | 0.045 | 20,000 | 43,810 |
| 72 | MK Tiwary | 11 | 0 | 11 | 0.044 | 475,000 | 42,689 |
| 73 | AJ Finch | 5 | 0 | 5 | 0.021 | 300,000 | 20,164 |
| 74 | VY Mahesh | 0 | 4 | 4 | 0.015 | 20,000 | 14,955 |
| 75 | A Ashish Reddy | -65 | 76 | 12 | 0.008 | 20,000 | 7,856 |
| 76 | BB Samantray | 2 | 0 | 2 | 0.008 | 20,000 | 7,751 |
| 77 | JP Faulkner | -11 | 13 | 3 | 0.003 | 190,000 | 3,221 |
| 78 | DH Yagnik | 0 | 0 | 0 | 0.000 | 20,000 | 393 |
| 79 | J Theron | 7 | -9 | -2 | -0.004 | 85,000 | -3,572 |
| 80 | SK Trivedi | 5 | -7 | -2 | -0.004 | 20,000 | -3,935 |
| 81 | V Kohli | 41 | -49 | -8 | -0.006 | 1,800,000 | -5,937 |
| 82 | PA Reddy | -2 | 0 | -2 | -0.007 | 20,000 | -6,571 |
| 83 | Harmeet Singh | -10 | 8 | -2 | -0.011 | 20,000 | -10,244 |
| 84 | RE van der Merwe | 0 | -3 | -3 | -0.011 | 50,000 | -10,365 |
| 85 | STR Binny | -10 | 7 | -2 | -0.012 | 20,000 | -12,058 |
| 86 | R Vinay Kumar | -56 | 61 | 4 | -0.013 | 1,000,000 | -12,374 |
| 87 | AG Murtaza | 3 | -11 | -8 | -0.027 | 20,000 | -25,655 |
| 88 | GB Hogg | -35 | 32 | -3 | -0.028 | 180,000 | -27,387 |
| 89 | SS Tiwary | -7 | 0 | -7 | -0.029 | 1,600,000 | -27,856 |
| 90 | SD Chitnis | -9 | 0 | -9 | -0.035 | 20,000 | -33,699 |
| 91 | BB McCullum | -10 | 0 | -10 | -0.039 | 900,000 | -37,909 |
| 92 | Z Khan | -38 | 31 | -7 | -0.043 | 900,000 | -41,399 |
| 93 | M Kaif | -11 | 0 | -11 | -0.044 | 130,000 | -42,237 |
| 94 | DJ Harris | 11 | -26 | -15 | -0.046 | 70,000 | -43,915 |
| 95 | PJ Sangwan | 0 | -14 | -14 | -0.048 | 20,000 | -45,853 |
| 96 | AP Majumdar | -13 | 0 | -13 | -0.051 | 20,000 | -48,807 |
| 97 | GJ Maxwell | -19 | 6 | -12 | -0.053 | 20,000 | -51,309 |
| 98 | U Chand | -14 | 0 | -14 | -0.055 | 20,000 | -53,470 |
| 99 | PP Ojha | -46 | 36 | -10 | -0.057 | 500,000 | -54,667 |
| 100 | AN Ahmed | 0 | -17 | -17 | -0.060 | 20,000 | -57,616 |
| 101 | AB Agarkar | 0 | -20 | -20 | -0.071 | 210,000 | -68,179 |
| 102 | K Upadhyay | 11 | -33 | -22 | -0.072 | 20,000 | -69,213 |
| 103 | NV Ojha | -18 | 0 | -18 | -0.072 | 270,000 | -69,306 |
| 104 | WP Saha | -19 | 0 | -19 | -0.076 | 100,000 | -73,241 |
| 105 | CA Lynn | -19 | 0 | -19 | -0.076 | 20,000 | -73,241 |
| 106 | Harpreet Singh | -19 | 0 | -19 | -0.076 | 20,000 | -73,241 |
| 107 | M de Lange | 0 | -23 | -23 | -0.079 | 50,000 | -76,553 |
| 108 | MD Mishra | -21 | 0 | -21 | -0.084 | 20,000 | -80,992 |
| 109 | LJ Wright | 0 | -24 | -24 | -0.084 | 20,000 | -81,341 |
| 110 | Anand Rajan | 0 | -25 | -25 | -0.086 | 20,000 | -83,331 |
| 111 | Iqbal Abdulla | 2 | -30 | -28 | -0.098 | 20,000 | -94,320 |
| 112 | AC Blizzard | -25 | 0 | -25 | -0.100 | 20,000 | -96,493 |
| 113 | SA Yadav | -25 | 0 | -25 | -0.100 | 20,000 | -96,493 |
| 114 | DJ Jacobs | -25 | 0 | -25 | -0.100 | 190,000 | -96,493 |
| 115 | SK Raina | 18 | -49 | -31 | -0.101 | 1,300,000 | -97,572 |
| 116 | R Shukla | 0 | -31 | -31 | -0.109 | 20,000 | -105,065 |
| 117 | S Aravind | 14 | -48 | -34 | -0.112 | 20,000 | -108,425 |
| 118 | JD Unadkat | 0 | -32 | -32 | -0.112 | 250,000 | -108,454 |
| 119 | RR Powar | 0 | -32 | -32 | -0.112 | 160,000 | -108,454 |
| 120 | A Mithun | 0 | -33 | -33 | -0.116 | 260,000 | -111,843 |
| 121 | RJ Peterson | -43 | 15 | -27 | -0.117 | 100,000 | -113,229 |
| 122 | JD Ryder | 7 | -42 | -35 | -0.118 | 150,000 | -113,563 |
| 123 | RN ten Doeschate | -35 | 4 | -30 | -0.124 | 150,000 | -119,702 |
| 124 | AUK Pathan | -19 | -14 | -33 | -0.125 | 20,000 | -120,689 |
| 125 | MK Pandey | -31 | 0 | -31 | -0.126 | 20,000 | -121,261 |
| 126 | AA Jhunjhunwala | -26 | -10 | -35 | -0.137 | 20,000 | -132,271 |
| 127 | V Pratap Singh | -25 | -11 | -36 | -0.140 | 20,000 | -134,761 |
| 128 | TL Suman | -35 | 0 | -35 | -0.140 | 20,000 | -134,855 |
| 129 | IR Jaggi | -35 | 0 | -35 | -0.140 | 20,000 | -134,855 |
| 130 | P Dogra | -35 | 0 | -35 | -0.140 | 20,000 | -134,855 |
| 131 | B Chipli | -38 | 0 | -38 | -0.151 | 20,000 | -146,088 |
| 132 | MN Samuels | -49 | 12 | -38 | -0.157 | 20,000 | -151,139 |
| 133 | Y Venugopal Rao | -17 | -26 | -43 | -0.161 | 700,000 | -155,517 |
| 134 | AA Chavan | -14 | -31 | -45 | -0.164 | 20,000 | -157,924 |
| 135 | AD Mathews | -47 | 7 | -40 | -0.164 | 950,000 | -158,540 |
| 136 | AM Nayar | -30 | -16 | -46 | -0.175 | 800,000 | -169,311 |
| 137 | CJ McKay | -17 | -32 | -48 | -0.179 | 110,000 | -172,348 |
| 138 | NLTC Perera | -21 | -27 | -48 | -0.179 | 650,000 | -172,500 |
| 139 | DB Ravi Teja | -46 | 0 | -46 | -0.184 | 20,000 | -177,485 |
| 140 | A Singh | -24 | -25 | -49 | -0.185 | 20,000 | -178,334 |
| 141 | MA Agarwal | -48 | 0 | -48 | -0.192 | 20,000 | -185,571 |
| 142 | AL Menaria | -53 | 5 | -47 | -0.193 | 20,000 | -186,406 |
| 143 | RA Jadeja | -108 | 68 | -40 | -0.195 | 2,000,000 | -188,424 |
| 144 | CJ Ferguson | -50 | 0 | -50 | -0.199 | 300,000 | -192,200 |
| 145 | LRPL Taylor | -52 | 0 | -52 | -0.209 | 1,000,000 | -201,466 |
| 146 | AC Thomas | -31 | -25 | -55 | -0.210 | 100,000 | -202,684 |
| 147 | J Syed Mohammad | 4 | -65 | -61 | -0.212 | 20,000 | -204,796 |
| 148 | SP Goswami | -55 | 0 | -55 | -0.223 | 20,000 | -215,059 |
| 149 | RR Bhatkal | -25 | -35 | -60 | -0.223 | 20,000 | -215,115 |
| 150 | R Bhatia | -40 | -19 | -59 | -0.226 | 20,000 | -217,821 |
| 151 | CA Pujara | -58 | 0 | -58 | -0.232 | 700,000 | -223,597 |
| 152 | MJ Clarke | -50 | -10 | -60 | -0.238 | 20,000 | -229,378 |
| 153 | LR Shukla | -74 | 16 | -58 | -0.241 | 20,000 | -232,477 |
| 154 | PP Chawla | -93 | 37 | -57 | -0.246 | 900,000 | -237,325 |
| 155 | SB Jakati | 7 | -80 | -73 | -0.252 | 20,000 | -243,201 |
| 156 | BA Bhatt | 6 | -79 | -73 | -0.254 | 20,000 | -244,691 |
| 157 | A Mishra | -59 | -7 | -66 | -0.260 | 300,000 | -250,785 |
| 158 | Sunny Gupta | -25 | -47 | -72 | -0.265 | 20,000 | -255,786 |
| 159 | RE Levi | -66 | 0 | -66 | -0.267 | 20,000 | -257,296 |
| 160 | A Nehra | 11 | -89 | -78 | -0.268 | 850,000 | -258,399 |
| 161 | WD Parnell | -81 | 12 | -68 | -0.280 | 160,000 | -270,468 |
| 162 | Bipul Sharma | -3 | -79 | -82 | -0.288 | 20,000 | -278,193 |
| 163 | RP Singh | -44 | -33 | -77 | -0.293 | 600,000 | -282,564 |
| 164 | KC Sangakkara | -74 | 0 | -74 | -0.297 | 700,000 | -286,333 |
| 165 | J Botha | -42 | -41 | -82 | -0.310 | 950,000 | -299,346 |
| 166 | PA Patel | -79 | 0 | -79 | -0.317 | 650,000 | -305,710 |
| 167 | S Nadeem | 0 | -90 | -90 | -0.317 | 20,000 | -305,817 |
| 168 | B Kumar | -35 | -52 | -87 | -0.323 | 20,000 | -311,489 |
| 169 | JA Morkel | -67 | -16 | -83 | -0.326 | 20,000 | -314,593 |
| 170 | KD Karthik | -86 | 0 | -86 | -0.344 | 900,000 | -332,052 |
| 171 | R Ashwin | -57 | -33 | -90 | -0.345 | 850,000 | -332,946 |
| 172 | VR Aaron | -49 | -43 | -92 | -0.348 | 20,000 | -335,636 |
| 173 | TP Sudhindra | 0 | -108 | -108 | -0.378 | 20,000 | -364,437 |
| 174 | B Lee | -8 | -101 | -109 | -0.385 | 400,000 | -371,522 |
| 175 | Ankit Sharma | -57 | -51 | -108 | -0.407 | 20,000 | -392,965 |
| 176 | M Kartik | 26 | -152 | -126 | -0.430 | 400,000 | -414,790 |
| 177 | N Saini | -108 | 0 | -108 | -0.434 | 20,000 | -418,492 |
| 178 | HV Patel | -35 | -84 | -119 | -0.434 | 20,000 | -418,740 |
| 179 | AD Russell | -2 | -134 | -135 | -0.476 | 450,000 | -459,520 |
| 180 | MS Gony | -21 | -123 | -143 | -0.515 | 290,000 | -496,464 |
| 181 | PC Valthaty | -119 | -16 | -135 | -0.536 | 20,000 | -516,923 |
| 182 | R Sharma | -98 | -44 | -141 | -0.546 | 20,000 | -526,541 |
| 183 | SC Ganguly | -105 | -38 | -144 | -0.557 | 400,000 | -537,761 |
| 184 | YK Pathan | -55 | -97 | -152 | -0.560 | 2,100,000 | -540,446 |
| 185 | DL Vettori | -69 | -94 | -162 | -0.604 | 550,000 | -583,217 |
| 186 | P Kumar | -39 | -178 | -216 | -0.780 | 800,000 | -752,433 |
| 187 | IK Pathan | 2 | -238 | -237 | -0.830 | 1,900,000 | -800,788 |
| 188 | Harbhajan Singh | -116 | -214 | -330 | -1.218 | 1,300,000 | -1,175,769 |
Chris Gayle totally blows away the competition by accumulating 1.520 wins and a total value of $1.47M. Fellow West Indian player Sunil Narine grabs the second spot (first among the bowlers), with a total value of $1.16M. No other player crosses the $1M mark.
The least valuable player in the tournament? Well, Harbhajan Singh takes the bottom spot with a total value of – $1.17M. He was paid $1.3M in salary. Talk about sunk costs!
Top spots … quite intuitive … Gayle and Bhajji (may be not so much). Gambhir vs Dhawan total mismatch. Gambhir had SR ~ 146, whereas, KKR bowling and batting overall economy rate was close to 7.00 ~= 116 (lowest of all). Dhawan had SR ~ 130, and DC games where mostly high scoring.
Check this out:
https://docs.google.com/spreadsheet/ccc?key=0AvwWgn7MZoPQdFdsek85aS00X2NPLXljZTI2bnBjdGc
Read “Rating” as your RAA per innings
Also, I believe Rahane is in the 60K $ cap … since 2011.
Is that because Rahane is now a capped Indian player? I had taken the salary of all the players for whom I could not find any salary information (Rahane was one of them) to be $20K.
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