"The Indian Premier League Governing Council along with the Committee of Administrators (CoA) met in New Delhi on Wednesday to discuss IPL Player retention policy, salary cap, player regulations and other related issues", the release stated.
With respect to Chennai Super Kings (CSK) and Rajasthan Royals (RR), which are returning after a two-year ban, the council has decided that the player pool available will be the players who played for them respectively in IPL 2015 and who were part of Rising Pune Super Giants and Gujarat Lions' squads in IPL 2017. The move gathered steam when Harsh Goenka, brother of Rising Pune Supergiants owner Sanjeev Goenka, was trolled for hailing Pune captain Steve Smith at the expense of Dhoni.
The Indian Premier League (IPL) governing council has chose to raise the salary cap for the eight franchises for next year's edition to Rs 80 crore from the previous cap of Rs 66 crore.More news: Trump lawyer: Deutsche Bank has not received subpoena for Trump records
An IPL franchise is eligible to secure up to 5 players by virtue of a combination of player retention (pre player auction) and Right to Match (during the auction), BCCI secretary Amitabh Chaudhary said in a statement.
John added, "Dhoni adds considerable value to the team".
RTM refers to a franchise's right to match the highest bidder for a player it is interested in.More news: Chabahar Port inaugurated by Iranian President; allows India to bypass Pakistan
Franchises will need to spend at least 75 per cent of the salary cap each season, and that each squad should contain between 18 and 25 players with maximum eight overseas players. "In a way, we have found a middle path (with the possibility of buying back five players through retentions and RTMs)", IPL chairman Rajeev Shukla said after the meeting. If only one player has been retained, the salary cap will be Rs 12.5 crore.
He informed that the auction would be held in the last week of January or early February. The guideline is if a franchise retains three players it will have Rs 15 crore, Rs 11 crore and Rs 7 crore respectively deducted from its player purse of Rs 80 crores.
Maximum number of 2 Uncapped Indian players.More news: Amazon launches in Australia, retailers urged to prepare for battle
The Board of Control for Cricket in India (BCCI) had asked franchises as to how many players they would like to retain.