Australia spinner shares story of how he lost money playing in the IPL

13 January 2023 , 10:42

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Steve O'Keefe has revealed he lost money when he was picked up by an IPL franchise in 2011 (Image: Philip Brown/Popperfoto/Popperfoto via Getty Images)

The Indian Premier League has become a real juggernaut and is now the second-richest competition in the world of sport, with only the NFL commanding a more lucrative broadcast deal.

As the IPL has grown in stature and riches, plenty of cricketers have made absolute fortunes for just over two months worth of work. In the most recent player auction, Sam Curran became the most expensive player in IPL history when he was bought for around £1.85m by the Punjab Kings.

England captain Ben Stokes was also bought for more than £1m for the third time in his IPL career, while Australia all-rounder Cameron Green banked around £1.75m and Harry Brook picked up a £1.3m deal.

However, not every player makes a fortune from the IPL as Australian spinner Steve O'Keefe found out in 2012 when he was bought by Kochi Tuskers Kerala and ended up actually losing money.

The franchise was terminated after just one season for breaching the IPL's terms of agreement, meaning O'Keefe was not paid in full. Speaking on Triple M radio, O'Keefe recalled: "Went over with the Kochi Tuskers on the hefty sum of US$20,000 (£16,000), didn't play a game.

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"The team folded after the first season and I only got paid 30% of my cash, which was $6,000. My room bill was $7,500 because I decided to tip the bar on the last night.

"[I] got the zeros confused with the rupees. So I actually went over to the IPL and lost money."

O'Keefe has never played for another IPL franchise, but remains a stalwart in the Big Bash League at the age of 38. The left-arm spinner has played for Sydney Sixers since the tournament's inception in 2011 and remains a key member of the side.

"I'm working as hard as ever on my bowling because I want to be an important member of the team," he said after signing a new deal with the Sixers last year. "We have some top-quality young spinners in our squad, and if you're not doing well, it won't take long for someone to take your spot."

Matthew Cooper