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The IPL Governing Council announced that each IPL franchise can retain of a maximum of five players from their respective current squads. Of the five players, a franchise can retain a maximum of three players through retention in lead up to the auction, and a maximum of three players through right-to-match card during the auction. The other restrictions on player retention are: a maximum of three capped Indian players can be retained, and only two overseas players and two uncapped Indian players can be retained. The salary cap for each team for the 2018 season has been increased from ₹66 crore to ₹80 crore (approximately $12.4 million). A franchise will be allowed to spend only ₹33 crore on retentions ahead of the 2018 IPL auction, leaving it at least ₹47 crore to spend at the auction.[7][8]
IPL teams were asked to submit their retention list by January 4. For the first time in IPL history, the player retention event was broadcast live on Star Sports. The IPL auction was held on 27 and 28 January at Bangalore a day after the final of the Syed Mushtaq Ali Trophy.[10] 169 players (104 Indians and 56 Overseas) were sold at auction. Ben Stokes fetched the highest bid of ₹12.5 crore (US$1.95 million). Jaydev Unadkat was the most costly Indian player at ₹11.5 crore (US$1.80 million). Among uncapped players Krunal Pandya was most expensive at ₹8.8 crore(US$1.38 million). Many prominent players such as Lasith Malinga, Dale Steyn, Ishant Sharma, Hashim Amla and Joe Root remain unsold.
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