The IPL players' auction ahead of the 2021 edition will be held in Chennai on February 18, the league organisers announced on Wednesday.

The announcement was made via IPL's Twitter handle on Wednesday.

"IPL 2021 Player Auction on 18th February," read part of the post.

The "mini auction" will take place following the first two Tests between India and England in Chennai. The series begins on February 5 while the second Test will be played from February 13 to 17.

The BCCI is also yet to decide whether the IPL will happen in India even though the Board President Sourav Ganguly has repeatedly asserted that everything possible would be done to keep the glitzy event at its home.

The 2020 edition was held in the UAE in September-November due to the COVID-19 pandemic.

Smooth conduct of India's home series against England from next month should pave the way for the lucrative league to be held at home.

The player retention deadline ended on January 20 and the trading window closes on February 4.

Top Australian draws like Steve Smith and Glenn Maxwell were released from Rajasthan Royals and Kings XI Punjab respectively on the last day of the retention deadline.

The other notable names to be released were Chris Morris, Harbhajan Singh and Aaron Finch. The franchises retained a total of 139 players and released 57 players.

Kings XI Punjab will enter the auction with the biggest purse (Rs 53.20 crore), followed by Royal Challengers Bangalore (Rs 35.90 crore) and Rajasthan Royals (Rs 34.85 crore).

With Rs 10.75 crore each, Kolkata Knight Riders and Sunrisers Hyderabad have the lowest purse going into the auction.