The mini-auction is likely to be held in the third week of December in Bengaluru.
Prior to this, the teams will have to submit their list of retained players. In fact, a PTI report quoting a senior BCCI official says that the 10 IPL franchises have been asked to submit their list of retained players by November 15.
As per the report, the salary cap is likely to be increased from Rs 90 to Rs 95 crore for the next season.
During the mini-auction, however, the franchises can bid for players with the balance amount left after what they spent during the last mega auction and also with the amount they acquire after releasing the players they want to give back to the auction pool.
It is learnt that most franchises will keep 15 core players and release the rest for them to enter the auction with at least 10 crore, if not more.
Talking about the purse, Punjab Kings and Chennai Super Kings have Rs 3.45 and Rs 2.95 crore left respectively after the last auction while Lucknow Super Giants had exhausted their kitty.
Delhi Capitals, Mumbai Indians and Sunrisers Hyderabad have Rs 10 lakh left from last season while defending champions Gujarat Titans have Rs 15 lakh in their purse. Kolkata Knight Riders have Rs 45 lakh left while Rajasthan Royals and Royal Challengers Bangalore have Rs 95 lakh and Rs 1.55 crore in their purse.
(With PTI inputs)