If teams retain three players before the auction, they will be charged Rs 15 crore for the first player, Rs 11 crore for the second and Rs 7 crore for the third (or actual amount paid to player, whichever is higher).
According to report by the Indian Express, one franchise was reportedly in favour of retaining as many as five players, while another proposed retention of one player per team.
The IPL Governing Council, along with the Committee of Administrators (CoA), discussed player retention, salary cap, player regulations and other related issues in a meeting held in the national capital. The players who played for Chennai Super Kings and Rajasthan Royal respectively in IPL 2015 and who were part of Rising Pune Supergiants and Gujarat Lions squads in IPL 2017, will be part of the pool available to CSK and RR for retention or Right to Match, decided the IPL Governing Council.
Salary budgets for IPL teams have also been hiked to Rs 80 crore from Rs 66 crore for the 2018 season. There was a lot of confusion over whether the franchises would get to retain players or not.
The auction for the new IPL season will begin in February.
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In the subsequent years, the franchises will be allowed to shell out Rs 82 crore (in 2019) and Rs 85 crore (in 2020).
The retention policies listed by IPL Governing Council on Wednesday has again opened doors for Dhoni to make a return to CSK.
In another decision, an Indian Premier League (IPL) franchise can retain or secure through the Right to Match (RTM) clause a combined total of five players for the 2018 edition of the Twenty20 cricket tournament. In July early this year, the BCCI confirmed that both CSK and RR would be back for 2018 IPL, and replace RPS and GL.
There is also a change in the reserve price of capped and uncapped players.
Franchises can have a maximum of 25 players and a minimum of 18 players, but they can't have more than eight overseas players.