The players auction for the next year's Indian Premier League (IPL) will be held in Kochi on December 23, a BCCI official said on Wednesday.

The Turkish city of Istanbul, Bangalore, New Delhi, Mumbai and Hyderabad were also in contention to host the auction but, the BCCI evenatully opted for the coastal Kerala city.

"Logistically, and considering the dates, Kochi turned out to be the most suited option," a BCCI official told PTI.

Unlike the last auction, this year's will be a mini auction. The 10 IPL franchises have already been asked to submit their list of retained players by November 15.

Also, the salary cap is likely to be increased from Rs 90 to Rs 95 crore for the 2023 season.