The BCCI has set a salary cap of Rs 90 crore for 10 IPL franchises, including the two new entrants, for the next season and allowed a maximum of four retentions for the eight established teams. The two new franchises -- Lucknow and Ahmedabad -- will be given a choice to pick three players from the auction pool after the old teams announce their choice of retentions.

from Times of India https://timesofindia.indiatimes.com/sports/cricket/ipl/top-stories/ipl-bcci-sets-rs-90-crore-as-salary-purse-42-crore-for-maximum-4-retentions/articleshow/87402461.cms