Franchises will be formulating their decisions to retain or release players based on two important factors: who are the fresh names available for bidding, and the mega player auction before the 2025 IPL season, where the entire squads will be revamped.

In the run-up to the auction, a few key developments have already unfolded. Star England all-rounder and Test captain Ben Stokes has opted out of IPL 2024 "to manage his workload and fitness", and that means he could well be released by Chennai Super Kings ahead of the mega auction in 2025. ??

Elsewhere, in a homecoming of sorts, Gautam Gambhir has been appointed as the team mentor of Kolkata Knight Riders. Gambhir was the captain when KKR won the IPL in 2012 and 2014, and was with the team as a player from 2011 to 2017.?

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"I am not an emotional person and not many things move me. But this is different," Gambhir said in a statement. "This is back to where it all started. Today, there is a lump in my throat and fire in my heart as I think about slipping into that purple and gold jersey once again."

Reciprocating the sentiment, team co-owner Shah Rukh Khan said: "Gautam has always been part of the family and this is our captain coming back home in a different avatar as a mentor." ?

What Is The IPL Trade Window? ?
Simply put, the IPL Trade Window allows franchises to either swap players among themselves or purchase players via an all-cash deal. This also has an impact on the team purses as the prices for buying and later selling the players could be different.

What Are The Rules Of IPL 2024 Trade Window?
Franchises can either swap players among each other or buy players in an all cash deal. The IPL governing council reserves the right to give the final approval for the trade.?

If multiple franchises are looking to sign a particular player, the franchise that is selling the player possesses the right to choose the team the player goes to. Furthermore, consent of the player is mandatory while trading or transferring them.

When Does The IPL 2024 Trade Window End?
The trade window will close on Sunday, November 26, which means teams will need to finalize and share their retention list by then. That will also be the last day for player trades. The lists of retained and traded players will decide the final purses of franchises.

Players Traded So Far
1. Romario Shepherd (bought for INR 50 lakh) traded to Mumbai Indians from Lucknow Super Giants.
2. Devdutt Padikkal (bought for INR 7.5 crore) traded to Lucknow Super Giants from Rajasthan Royals.
3. Avesh Khan (bought for INR 10 crore) traded to Rajasthan Royals from Lucknow Super Giants.