Apart from Yuvraj, the biggest name to be released by any franchise was Delhi Daredevils' captain of last season Kevin Pietersen and their costliest player Dinesh Karthik, who grabbed eyeballs after being picked for a whopping Rs 12.5 crore.
Some of the other big names that were released include veteran pacer Zaheer Khan by Mumbai Indians while Test opener Murali Vijay did not find his name in the Delhi set-up as the franchise released as many as 13 players.
Among other veterans, Harbhajan Singh and Virender Sehwag have been retained by their respective franchises Mumbai Indians and Kings Xi Punjab.
Delhi Daredevils' Chief Executive Officer Hemant Dua confirmed the development and also explained the reason for this decision by the management. Daredevils will go into the auction with a purse of Rs 41 crore.
"Yes, we have submitted our list of releases to the IPL governing council and I can confirm that we have released Kevin Pietersen, Dinesh Karthik and Murali Vijay among the marquee players. We have only retained 11 players from the last season of IPL," Dua said.
Asked whether Karthik was an expensive buy, Dua said, "It was the decision of the Daredevils management. The rationale behind releasing some of the marquee players is going into the auction with a bigger purse and also look from the perspective of being cost effective."

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