IPL franchises can retain up to 5 players

 Indian Premier League (IPL) franchises can retain up to five players ahead of the 2014 auction, which will be held on February 12, and if required, on the 13th. The teams will also have the option of using the 'right to match' card, which will allow them to buy back a player.The right to match card gives the franchises the overriding rights to their players. A team can get hold of a player after the completion of the bidding process. Once the final bid for the player is made and the auctioneer calls "sold", he will ask the franchise the player belonged to if they want to use the right to match option. In case the franchise wants that player, all it has to do is to pay the final amount bid. The right to match or the joker's card also allows team the first right of refusal. If a team has decided not to retain a single player, it can exercise the right-to-match option a maximum three times while a team with three to five retained players will have one right to match card. Franchises with one or two retained players will have two right to match cards. The right to match option and the retention of players before the auction combined, a team can retain a maximum of four capped Indian players.

For the first player retained, a franchise has to shell out Rs 12.5 crores, irrespective of the agreed fee between the team and the player. Rs 9.5 crores, Rs 7.5 crores, Rs 5.5 crores and Rs 4 crores will be deducted from the franchise's salary cap for the second, third, fourth and fifth players retained respectively. For every uncapped player retained, a team has to shell out 4 crores.

The IPL governing council also decided that each team should have at least 16 players in the squad but not more than 27 players and a maximum of 9 overseas players per team. Though there is no minimum quota for catchment area players, the governing council said Under-19 players must have played either First Class or List A before signing for the IPL.

According to the Player Contract regulations, cricketers with one year term with a franchise will have the option to extend for either one or two additional years but the option must be exercised on or before December 15 in each year.

The teams can spend up to Rs 60 crores for the upcoming season while the salary caps have been increased by five percent for 2015 and 2016. All players, including the uncapped ones, will go into the auction. The Indian players, starting from 2014, will be paid in rupees while the overseas players will have the option of choosing the currency. In case a player, who has played in the IPL also participates in the Champions League, he will be paid 10% of his IPL fee.

Click here for the detailed rules and regulations for IPL 2014.

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