James Fiztpatrick | cricket20
The player auction for IPL 4.0 will take place in September after the second edition of the Twenty20 Champions League it was announced today.
IPL and Champions League commissioner Lalit Modi gave away very little information while making the announcement via twitter this afternoon.
No fixed date or location was announced for the mega scale auction which will see the 10 IPL franchises compete for the signings of over 300 players.
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.