Ricky Ponting out of IPL Season 3

Australian captain Ricky Ponting won't be playing in the Indian Premier League this year after his franchise, the Kolkata Knight Riders, bought out his contract.

Ponting had been set to spend about four weeks on the subcontinent in April, but the Knight Riders opted to pay out the batsman. They will aim to purchase another international at the auction in Mumbai, scheduled to start later on Tuesday.