New Delhi: The auction for the eighth edition of the Indian Premier League (IPL) will be held on February 16 in Bangalore, where some of the world's leading cricketers will converge to go under the hammer.

"The 2015 Pepsi IPL Player Auction will mark the beginning of the countdown to the eighth season of one of the most popular sporting events on the planet. The auction promises to be eventful," Ranjib Biswal, chairman, IPL Governing Council, said yesterday.