New Delhi, October: The auction for next year's edition of the Indian Premier League (IPL) will be held on December 19 in Kolkata. It is for the first time that the BCCI has decided to conduct the auctions at a new venue, going away from the tradition of holding it in Bengaluru. According to a report in ESPNcricinfo, this year's auction is the last small one before franchises disband next year and prepare to assemble fresh squads from 2021. IPL 2020 Transfer Window: Mumbai Indians Release Mayank Markande in Exchange of Sherfane Rutherford With Delhi Capitals.

In 2018, the last big auction took place in January when franchises were allowed to retain five players before building new squads. The trading window for all the eight franchises will close on November 14. For the upcoming edition, all the franchises were originally allotted Rs 85 crore to build their teams. However, every franchise will also have an additional budget of Rs 3 crore in addition to the balance in their kitties from the last auction.

According to the report, Delhi Capitals have the biggest balance of Rs 8.2 crore, followed by Rajasthan Royals (Rs 7.15 crore), Kolkata Knight Riders (Rs 6.05 crore), Sunrisers Hyderabad (Rs 5.3 crore), Kings XI Punjab (Rs 3.7 crore), Chennai Super Kings (Rs 3.2 crore), Sunrisers Hyderabad (Rs 3.05 crore) and Royal Challengers Bangalore (Rs 1.8 crore).

(The above story first appeared on LatestLY on Oct 01, 2019 10:26 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).