New Delhi: The Indian Premier League's high-profile auction will be held in the Saudi Arabian capital city of Riyadh in the last week of this month, sources in the Board of Control for Cricket in India (BCCI) confirmed on Monday.

"The IPL auctions will be held in Riyadh and it has been notified to the franchises. The likely dates are November 24 and 25," a BCCI source said on conditions of anonymity.

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This year's auction is a mega one with Indian stars like Rishabh Pant, K L Rahul, Shreyas Iyer and Arshdeep Singh going under the hammer.

The 10 franchises will collectively have around Rs 641.5 crore to spend for 204 slots that are available. Out of those 204 slots, 70 are earmarked for overseas players.

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As of now, 46 players have been retained by the 10 franchises with cumulative expenditure of Rs 558.5 crore. 

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