Inu00a0less than a week, the six Indian Premier League (IPL) franchises will be conveying to the Board of Control for Cricket in India (BCCI) the players they wish to retain for the next three seasons of the T20 league.

The new rules on player retention allow a team to keep up to four players, but at a steep price. The first player retained will cost a team $1.8 million against the salary cap of $9 million, regardless of the amount the player is actually paid. The second player will cost $1.3 million, the third $900,000 and the fourth $500,000.

However, IPL's Chief Executive Officer (CEO) Sundar Raman explained that the eventual salary of the player will be determined by the franchise and not the BCCI. "For example, if Sachin Tendulkar is the first player retained by Mumbai Indians, $ 1.8 million will be deducted from the $ 9 million purse. But, that doesn't mean he will be paid that much. His salary will remain confidential "That is between the franchise and player. It will have nothing to do with BCCI," said Raman.