Australian left-arm seamer Mitchell Starc has pulled out of the upcoming edition of the Indian Premier League (IPL) in order to "undertake a period of rehabilitation and strength" leading into the ICC Champions Trophy to be held in June, it was announced on Sunday.

With this decision, the 27-year-old will foresake Rs 5 crore that he was supposed to bag for turning out for IPL franchise Royal Challengers Bangalore (RCB) during the coming season.

"The Royal Challengers Bangalore and fast bowler Mitchell Starc have mutually decided to discontinue their association ahead of the upcoming season of VIVO Indian Premier League 2017 in accordance with Regulation 41 of the IPL Player Regulations," a statement said.

Starc, one of the world's premier fast bowlers, had also missed the 2016 IPL edition due to injury.

"At this point in time after a long summer and with a big tour of India still ahead, I think it is in my best interests, both physically and mentally, for me to have a break, spend time with my family and take the opportunity to work on getting back to full fitness," Starc said in a statement released by Cricket Australia (CA).

"I have thoroughly enjoyed my time with Bangalore and I certainly hope to be back playing for them in the future and wish them all the best in this year's IPL," added Starc.

Now, in the absence of Starc, the city-based franchise of the richest Twenty20 cricket league will go into Monday's IPL Players auction with an additional purse of Rs 5 Crore and an additional slot for an overseas player. RCB have a purse of a total of Rs 17.825 crore to buy players.

The IPL starts on April 5.