With the deadline for all teams to announce their player retention approaching, the Indian Premier League (IPL) is once again in the news. Every franchise needs to submit their retention list by 5 PM on October 31, 2024. The Board of Control for Cricket in India (BCCI) has chosen overseas shores for the mega auction this year. The mega auction this year is set to be held in Riyadh, Saudi Arabia. Although the board is yet to announce its decision formally, reliable sources have informed Hindustan Times that the auction is all set to go ahead on November 24 and 25 in Riyadh.

"Yes, we are looking at Riyadh for the mega auction. The auction will be a two-day affair this time around. A team has gone to Riyadh to do the proper verification and all. We are looking at hotels, and once the booking is done, we will make the formal announcement," a source privy to developments told Hindustan Times.

"We also have a few backup options in mind, such as Abu Dhabi," the source added.

If the mega auction does indeed take place on November 24 and 25, then it would coincide with India's first Test against Australia, which is slated to begin in Perth from November 22-26. The mega auction will fall on the third and fourth days of the Test, respectively. However, Saudi Arabia and Australia have a major time difference. The proceedings on Day 3 and 4 of the Perth Test would come to an end by 3:20 PM IST Max.

The auction will most likely begin between 3:30 and 4 PM IST. Hence, cricket lovers will be able to enjoy both the Test and IPL mega auctions.

Earlier, it was reported that BCCI also explored few other options such as Dubai, Singapore and London, to host the mega auction, but in the end, Saudi Arabia has been chosen as the final option.

The board is likely to make the official announcement after every franchise announces their player retention list.

What the IPL player regulations for IPL 2025-2027 all about?

After a dialogue with with the owners of the 10 franchises in July 2024, the IPL Governing Council had announced the player regulations.

It was announced that the IPL franchises can "retain a total of 6 players from their existing squad. This can be either via retention or by using the Right to Match (RTM) option."

However, the board said that it is at the discretion of the IPL franchise to choose their combination for Retentions and RTMs. The 6 retentions / RTM’s can have a maximum of 5 capped players (Indian & Overseas) and a maximum of 2 uncapped players.

"The auction purse for the franchises has been set at INR 120 Crore for IPL 2025. The total salary cap will now consist of auction purse, incremental performance pay and match fees. Previously in 2024, the total salary cap (auction purse + incremental performance pay) was Rs. 110 Crs which will now be Rs. 146 Crs (2025), Rs. 151 Crs (2026) and Rs. 157 Crs (2027)," the governing council said in an official statement.

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