IPL auction on February 12, teams can retain five players-
IPL 7 auction date is announced, IPL 7 Auction will take place on February 12. In IPL 7 auction Team can retain 5 player.According to BCCI "The 2014 player auction will be held on 12 February, and if necessary, 13 February 2014. The venue will be announced soon,".
"A franchise may sign up to a maximum of 5 players (either capped or uncapped, no more than four of whom may be capped Indians) who were in its squad in 2013, including those who were unavailable during the season and those who were taken as temporary replacements,"
In IPL7 Auction salary cap of every team would be Rs 60 crore. If a team want to retain all five player then Rs 39 crore would be deducted from the actual purse.
Player getting first, second, third, fourth and fifth capped players in retaing list will get Rs 12.5 crore, Rs 9.5 crore, Rs 7.5 crore, Rs 5.5 crore and Rs 4 crore respectively.
In IPL7 each franchise will have a number of 'rights to match'.
"The number of 'rights to match' available to a franchise will depend on the number of players that the franchise retained in advance,"
