The Indian Premier League's (IPL) governing council has announced that the player auction for the tournament will be held on Jan 8 and 9 in Mumbai. The auction will most probably, be on the same scale as the first one in 2008, with teams starting almost from scratch and the will be held under the rules delineate in September this year.
The IPL4's opening ceremony will be soon after the end of the One-Day World Cup, on April 7, 2011 and the first match will be held on April 8, while the final will be on May 22, 2011. The tournament will feature 60 matches, one more than in the last season. The league stages will see each of the eight sides playing 14 games, adding up to a total of 56 matches, same as in previous IPL editions. The top two from the league rounds will then play a play-off match, with the winner qualifying for the final. The teams that finish third and fourth in the league stage will contest the other play-off, and the winner of that game will clash with the defeated team from the first play-off to decide the second finalist.
The new auction rules involving player retention, which have been criticised by the franchises, allow a team to keep up to four players but at a high price.The first player retained will cost a team $1.8 million against the salary cap of $9 million, regardless of the amount the player is actually paid. The second player will cost $1.3 million, the third $900,000 and the fourth $500,000.