On July 31, 2024, the Board of Control for Cricket in India (BCCI) and the owners of the ten IPL franchises convened to discuss the upcoming IPL 2025 auction. The meeting was held at the BCCI headquarters in Mumbai, with all franchise owners in attendance, including Mumbai Indians, who participated virtually.

Notable attendees included Kiran Kumar Grandhi of Delhi Capitals, Sanjiv Goenka of Lucknow Super Giants, Rupa Gurunath of Chennai Super Kings, Kavya Maran of SunRisers Hyderabad, Manoj Badale of Rajasthan Royals, and Prathmesh Mishra of Royal Challengers Bangalore. Mukesh Ambani of Mumbai Indians joined via video conference.

A significant debate emerged over whether to hold a mega auction or a smaller auction with more player retentions. The majority of the franchises favored a smaller auction to retain their core players.

Kolkata Knight Riders owner Shah Rukh Khan was notably vocal against a mega auction, reportedly arguing with Punjab Kings co-owner Ness Wadia. Shah Rukh supported substantial retentions, while Wadia opposed excessive retentions.

The final decision on the number of retentions will depend on the consensus regarding the mega auction. If the BCCI opts to discontinue big auctions, extensive retentions might not be necessary.