The BCCI has formally informed the 10 IPL franchises that a salary cap of Rs 90 crore will be applicable for the IPL 2022 season and that the existing eight franchises will be allowed to retain four players.

The two new franchises — Sanjiv Goenka-backed RPSG Ventures Ltd and international investment firm Irelia Company Pte Ltd, an arm of CVC Capital Partners, which successfully bid for the Lucknow and Ahmedabad franchises for Rs 7090 crore and Rs 5625 crore, respectively — will be allowed to pick three players from the unretained pool before the auction.

The Telegraph had on Wednesday reported on what the player retention policies could be and also that a salary cap of Rs 90 crore will be applicable for all the teams.

In an email to the franchises, which is in possession of The Telegraph, the IPL said: “The window for the 8 existing teams to retain the players will be from the 1st November 2021 to 30th November 2021. Thereafter the 2 new teams will have the window to retain the players starting from 1st December 2021 to 25th December 2021.”

The BCCI also stated that the old franchises cannot retain more than three Indians (capped/uncapped) players while restricting the number of overseas players in the retention list to two. No team can keep more than two uncapped players.

As for the new teams, two Indian and one overseas player can be picked before the auction. They can also pick one uncapped player pre-auction.

There will also be no Right to Match (RTM) cards, which allow a franchise to buy an unretained player who played for them in the previous edition for the highest bidding amount the player has received in that auction.

If an existing franchise retains four players, Rs 42 crore will be deducted from their player purse, three will cost them Rs 33 crore while two retentions will cost Rs 24 crore. If a team retains only one player, it will lose Rs 14 crore. An uncapped player retained will amount to Rs 4 crore.

In case of four retentions, the salary of each player will be: Rs 16 crore for Player 1, Rs 12 crore for Player 2, Rs 8 crore for Player 3 and Rs 6 crore for Player 4.

In case of three retentions, the fee for Player 1 will be Rs 15 crore, Player 2 Rs 11 crore and Player 3 will be Rs 7 crore. Two retentions will mean a salary of Rs 14 crore for Player 1 and Rs 10 crore for Player 2. If a franchise keeps only one player, it will have to pay Rs 14 crore annually.

For the two new teams, Rs 33 crore will be deducted for three players from the unretained pool while two players will amount to Rs 24 crore.