The new player regulations for the 2014 edition of the Indian Premier League, was finally decided by the IPL Governing Council on the 24th of December 2014. This year’s IPL regulations include a proposal that will allow all teams to retain a maximum of five players before the final auction is held in 2014 February 12th. They can retain these five players for three year from 2014. Apart from the ones who have already been retained, the remaining players who want to participate in the season 7 of the Indian Premier League 2014 will go to the auction pool to be eligible for selections. The league fees for the 5 players who will be retained have also been fixed by the BCCI, where the top player among the selected band of players will be drawing a fee of Rs. 12.5 crore each year, for three years.
According to the league fee proposals, the player who comes second in the selected band of 5 players will draw an amount of Rs. 9.5 crore, and the player in the third position will get Rs. 7.5 crore each year. Amounts of Rs. 5.5 crore and 4 crore will be paid to the fourth and fifth players in the band. The salary Cap of the entire squad will be Rs. 60 crores for 2014 as per the IPL league fees rules set by the BCCI. This amount will increase by 5% per annum for the years 2015 and 2016 and every team’s expenditure can be Rs. 36 crore in each of the years’ seasons in 2014, 2015 and 2016, failing which can make them liable to pay a fine.
From the given cap of 60 crore, if a team retains 5 players in the advance retention process, a sum of Rs. 39 crores will be deducted from it. This will leave the team with an amount of Rs. 21 crore that can be spent to form the rest of squad for the IPL 2014 season.