New Delhi, Dec 2: It has been decided that all Indian Premier League (IPL) franchises will pay their players (including foreign players) in Rupees (INR) instead of US Dollars which has been the norm during the six previous editions.
The cap for 'Player Retention' is likely to increase from four to five while the highest amount for retaining a player would be around Rs 12 crore.
A concept called "right to match" is also going to be introduced during this year's auction where an existing franchise can veto the sale of a player currently in their squad.
The franchises will be given a specific number of cards known as 'Joker Cards' which will be used to veto the sale of a player to other franchise provided the old franchise has enough money after retention.
IPL 7 Players' Auction is likely to be held in February, 2014.