IPL franchises announce initial squads
The nine IPL franchises have confirmed their initial squads for IPL 2013.
Under the terms of their IPL contract, the Franchises had the option to extend the agreements with their players for the 2013 season on the same financial terms. A total of 179 players have had their contracts so extended.
The Hyderabad franchise owned by Sun TV Network exercised its option and retained over 20 of the players who represented Deccan Chargers in IPL 2012.
"The Franchises have clearly focussed on performance in the IPL in making their decisions as to which players will form part of their respective core groups for the 2013 season. Each Franchise has room under the Salary Cap to be able to sign additional players, either by trading or in the auction or, in the case of uncapped Indian players, by direct agreement with the player in question," Rajeev Shukla, Chairman, IPL, said.
Each franchise has a Salary Cap of up to $12.5m to spend on their 2013 squad of upto 33 players, of whom a maximum of 11 can be from overseas. Only four overseas players can figure in the starting XI for any match.
The Trading window will open on Monday, 19 November 2012. The same day onwards, the Franchises will be able to sign new uncapped Indian players, including the 52 players whose contracts were not extended.
From 1 November 2012, the Franchises also have the option of re-signing the players who they took as temporary replacements in IPL 2012.
The date for the Player Auction will be intimated soon.