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    IPL 5 auction on Feb 4 in Bangalore

    New Delhi: The 2012 IPL player auction will be held on February 4 next month at Bangalore's ITC Royal Gardenia Hotel.

    Richard Madley, a renowned auctioneer from England and who has already overseen the previous auctions, will once again be in charge of the proceedings.

    IPL chairman and BCCI vice-president Rajiv Shukla said: "Fans of the sport, based in India and elsewhere, will be following the happenings with a lot of interest. The auction sets the stage for what promises to be an absorbing fifth season of the tournament. The developments during the first trading window have given us an idea of the varied approaches that the teams have adopted for the forthcoming season. The auction will give us a deeper insight into the same."

    The auction will begin at 11 am and will be broadcast live.

    The league will kick off on April 4 with the Chennai Super Kings-Mumbai Indians match in Chennai.