James Fiztpatrick | cricket20
With the fall out continuing after last weeks IPL player auction stakes will be raised even higher during the summer when 500 players go under the hammer during the player auction for IPL 4.0.
According to reports in the Economic Times in Indian the next auction which will take place in July will see 500 cricketers vying for a place in IPL 4.0 in 2011.
With all the contracts signed in the previous three auctions coming to an end after IPL 3.0 the ten franchises will be looking rebuild their squads.
According to an IPL source the eight original franchises will be able to retain the services of up to 6 players from their current squads providing both parties can come to a mutual agreement over contracts.
Of the six players which can be retained 4 of them most be Indian and the remaining two spots can be filled by foreign players. The players released by their franchises will then be able to take part in the mega player auction.
With two new franchises taking part in IPL 4.0 each team will be allowed to sign 12 foreign players, an increase in two due to the larger format of next years event with 94 games scheduled.