The decision was taken during the IPL Governing Council's meeting with the Committee of Administrators (CoA) here. Much to the chagrin of a few existing teams, the privilege has also been extended to Chennai Super Kings and Rajasthan Royals, who are coming back into the IPL after serving a sentence of two-year suspension.
The players of CSK and RR were shifted to new franchises, Rising Pune Supergiants and Gujarat Lions.
However, Rising Pune Supergiants and Gujarat Lions will not feature in the 11th edition of the tournament.
Each team has been set a salary cap of INR 80 crore for the 2018 season and the first player retained will cost the franchise 12.5 crores while the subsequent retention will account for 9.5, 7.5, 5.5 and 4 crores respectively. The Governing Council of the IPL has ratified his home coming stating that all the IPL teams can have retentions up to five players. "We focused on continuity", he said, adding that a two-year hiatus won't make things hard for them as they would be getting "the core of the team back". If there is no retention before player auction then the franchises can have up to three ATM.
When news filtered in on Wednesday on IPL player retention, there was relief and joy in the Chennai Super Kings camp.
► A franchise can secure a maximum of three capped Indian players and a maximum of two overseas players.
The auction reserve prices have also been increased, with a hike of Rs 10 lakh in the prices for uncapped players, which will now begin from Rs 20, 30 or 40 lakh.
He further said that the auction will be held in the last week of January or early February. "Thirteen players are there (from the 2015 squad), so we are fine with it", he quoted.
The Indian Premier League (IPL) is going to be an even bigger juggernaut next year, with the eight teams likely spending anywhere between Rs 480 crore and Rs 640 crore on players alone.
"The minimum spend will be 75 per cent of the salary cap for each season", the BCCI stated. For 2019 and 2020, the cap will be increased to Rs 82 and Rs 85 crore, respectively.
The Board of Control for Cricket in India (BCCI) had asked franchises as to how many players they would like to retain.