The players’ auction for the next Indian Premier League will be held on December 19 in Kolkata, the event’s Governing Council decided in a meeting in Mumbai on Tuesday.

The franchise-based league is usually held between April-May every year and this is the first time Kolkata will host the auction. The city is the home ground of the Shah Rukh Khan co-owned Kolkata Knight Riders franchise. “The IPL auction will be in Kolkata on December 19. It’s a departure from the traditional venue of Bengaluru,” an IPL Governing Council member was quoted as saying by PTI.

While the franchises were allotted Rs 82 crore each for IPL 2019, Rs 85 crore per team has been earmarked for the 2020 season. Every franchise will also have an additional purse of Rs 3 crore in addition to the balance in their kitties from last year.

Delhi Capitals have the biggest balance – Rs 8.2 crore, followed by Rajasthan Royals at Rs 7.15 crore and Kolkata Knight Riders at Rs 6.05 crore.

This year’s auction is the last one before the franchises disband and prepare to assemble fresh squads from 2021 in a mega auction.

Funds left with franchises ahead of IPL 2020 auction:

Chennai Super Kings: Rs 3.2 crore, Delhi Capitals: Rs 7.7 crore, Kings XI Punjab: Rs 3.7 crore, Kolkata Knight Riders: Rs 6.05 crore, Mumbai Indians: Rs 3.55 crore, Rajasthan Royals: Rs 7.15 crore, Royal Challengers Bangalore: Rs 1.80 crore, Sunrisers Hyderabad: Rs 5.30 crore.