IPL teams need to submit list of retained players by Nov 15: Official

The 10 IPL franchises have been asked to submit their list of retained players by November 15, a senior official of a franchise said on Sunday.

It is understood that BCCI has set the ball rolling for next edition of IPL and the mini-auction will be held in the third week of December in Bengaluru.

It is also learnt that even the salary cap is likely to be increased from Rs 90 to Rs 95 crore for the next season.

However at the mini-auction, the franchises can bid for players with the balance amount left after what they spent during the last mega auction and also with the amount they get after releasing the players they want to give back to the auction pool.

It is expected that most franchises will keep 15 core players and release the rest for them to enter the auction with at least 10 crore, if not more.

Punjab Kings and CSK have Rs 3.45 and Rs 2.95 crore left respectively after the last auction while Lucknow Super Giants had exhausted their full purse.

Delhi Capitals, Mumbai Indians and Sunrisers Hyderabad have Rs 10 lakh left from last season while defending champions Gujarat Titans have Rs 15 lakh in their kitty. KKR have Rs 45 lakh left while Rajasthan Royals have Rs 95 lakh in their purse. RCB have Rs 1.55 crore left.