Madley had conducted the annual televised auction of cricketers playing in the Indian Premier League for the past 11 years and was nicknamed ‘The Hammerman’ in India.
Edmeades said: “I am delighted to have been asked to do this and I am looking forward to a couple of days in Jaipur this month.”
The next auction will be held as a one-day affair, as opposed to the usual two days, in Jaipur, India on December 18.
News of Madley’s departure was met with disappointment by fans on social media.
Sorry not to be conducting #IPL2019 auction .— Richard Madley (@iplauctioneer) December 5, 2018
It’s been an honour and a privilege to have been part of #IPL from the start.
Will miss my many friends and followers in #India and beyond.
Thank you 🙏 for the welcome you have always shown .
Very sorry to read this - my congratulations to a very talented peer for transforming these auctions into what they are today. That’s a bloody good innings! They will miss such a passionate spokesman. https://t.co/gFZLAnszMh— Joseph Trinder (@TrinderJoseph) December 6, 2018
Madley said he had gained 500 more followers on Twitter since news of his departure was revealed and he will retain his verified Twitter handle @IPLAuctioneer.
He told ATG: “I was shocked and surprised when I found out. I received a one-line letter. Nothing is forever and I have had a great run. But I am sad in the manner that they told me and the way they handled it. I am not asking them to change their mind but I would have liked to have been told in a more sensitive way.
“I say good luck to Hugh. There are no hard feelings. But he has huge boots to fill. If I had to choose one person to replace me it would have been Charlie Ross. He is the best and knows his cricket.”
“There is only one Hammerman”
He added: “Since the news broke I have had 2500 people who have contacted me to wish me well. There is only one Hammerman.”
Madley, previously at Phillips and Christie’s in New York before working at Dreweatts from 2004 until earlier this year, continues to appear on BBC TV show Bargain Hunt.
He is also an ambassador for Bristol Auction Rooms and is UK agent for Sydney firm Shapiro Auctioneers. He said he has had approaches from other sporting organisations and is in talks on new auctioneering opportunities.
Edmeades left his role at Christie’s after a 38-year career at the auction house at the end of 2016. He is now an independent, freelance auctioneer.