Apart from skipper Rohit and Pollard, the three others retained are senior off-spinner Harbhajan Singh, Sri Lankan speedster Lasith Malinga and talented batsman Ambati Rayudu, who can also double up as a wicketkeeper.
Australian speedster Mitchell Johnson will now be favourite to be obtained through 'Right to Match' cards that the franchise can exercise during the two-day auction on February 12 and 13.
"The formidable combination of these five players - Rohit, Pollard, Malinga, Bhajji and Rayudu - forms the nucleus of Mumbai Indians. They have exemplified the spirit of Mumbai Indians and are match-winners in their own right," Nita Ambani, owner of MI, was quoted as saying in a press release.
Dinesh Karthik is another player who has missed out on retention as Rayudu being a specialist batsman and his ability to do a decent job behind the stumps tilted the scales in his favour.
As far as Malinga is concerned, he has been a 'Game Changer' for MI at the death overs and the possibility of some of the matches being played in Sri Lanka may have prompted the team management to take a call in the slinger's favour.