The Lanka Premier League will conduct its first ever player auction on June 14, ahead of the fourth season of the league.

Franchise will be able to competitively bid for players in the auction, where in previous editions teams would take turns picking players through the player draft. 

Each franchise has already made four direct signings -- two international and two local players -- with the rest of the players being included into the auction.  

Among the overseas direct signings made by the franchise so far are international stars David Miller, Babar Azam, Tabraiz Shamsi, Naseem Shah, Matthew Wade and Shakib al Hasan.  

How will the player auction work?

Players up for auction will be assigned a base price based on if they have been capped at international level or not. 

Players, both local and overseas, with international caps, can determine their own base prices, which they feel would give them the best chance to be picked up by a franchise, either at the base price or through the bidding process. 

At any given time during the auction, only two teams can be involved in bidding for a player, with another allowed to join the process when one of the previous two teams drops out. 

How much can franchises spend on players?

A total purse of US $ 1 million is available to each team, of which half is for the pre-auction direct signings -- effectively meaning a franchise will have US $ 500,000 for the auction. 

Uncapped players, who have not played international cricket in any of the three formats, will be assigned base prices starting from US $ 5,000 to US $ 20,000, determined by their experience at domestic level.

How many players will each franchise be allowed to sign?

Franchises will be allowed to sign upto four overseas players at the player auction, to make up the quota of six overseas players each squad is permitted.

Local players will make up the remaining slots in the squad, with a maximum of 24 players allowed per team.