IPL teams might retain at least three players before the next edition of the IPL. According to media reports, the proposal would be about retaining one Indian and two foreigners by each franchise, while the right to match (RTM) policy could be applicable for two more players.

Although a final decision has to be made, IPL chairman Rajeev Shukla confirmed that the player retention policy for the franchises could be between three to five players.

"The retention policy could only be finalised only after it is approved by the franchises at a workshop," Shukla said.

If that is the case then the likes of MS Dhoni, Suresh Raina, Ravindra Jadeja and R Ashwin could well return to play for Chennai Super Kings who are back in business after serving a two-year suspension.

Even Rajasthan Royals, which are back in the fray could get the services of India Test vice-captain Ajinkya Rahane.

Shukla further said that the cricketers who played for Rising Pune Supergiants and Gujarat Lions last season, can be retained by Chennai Super Kings and Rajasthan Royals.

Meanwhile, Shukla also said that the BCCI may have to pay Rs 850 crore as compensation to now-defunct IPL franchise Kochi Tuskers Kerala for terminating their contract in 2011.

"The Kochi franchise has demanded Rs 850 crore as compensation," said Shukla.

"The matter came up for discussion today. We are not in a position to take any decision... Any decision on the issue will be taken by the general body. I cannot specify how much money will be paid as there will be some negotiations before a particular figure could be quoted," he added.

"There was a time when the Board could have wriggled out of the situation by paying Rs 300 crore. It was not accepted which led to the matter being referred to arbitration."