Bangalore, Jan 11: The players auction for the seventh edition of the Indian Premier League (IPL 7) will be held in Bangalore on February 12 and 13 (Wednesday and Thursday).
Yesterday was the last day for player retentions and 24 have been retained by franchises, barring Delhi Daredevils who have decided not keep any of the players.
This time, even uncapped Indian players will be in the auction.
Chennai Super Kings, Mumbai Indians and Rajasthan Royals are the three teams who have used up full quota of retentions - five. All these players will now have Rs 21 crores each for the auction.
A franchise which retains the maximum of 5 players, all of whom are capped, will have a balance of Rs 21 crores to play the remaining up to 22 players in the squad for 2014 season, IPL said.
About the retentions, Ranjib Biswal, Chairman IPL, said: "The regulations were drafted taking into account franchise, player and fan feedback. Continuity of the core players in the teams is very important and the retention of these twenty four players, coupled with the "rights to match" (RTM) to be used in the auction, is a good sign. I am very pleased to see three uncapped Indian players in the list of players retained. The IPL is a great platform for young talent."
Each team can have maximum of 27 players and not less than 16. Up to 9 can be overseas players in the squad.
The salary cap of the IPL league fees of the entire squad is Rs 60 crore for this year, increasing it by 5% per year for 2015 and 2016.
The minimum squad spend was Rs 36 crores in each of previous three editions.