 Pietersen and Flintoff are coveted by IPL franchises
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England players are set to play in the Indian Premier League this season after the England and Wales Cricket Board agreed to release them for three weeks.
The move has prompted members of the squad to sign central contracts which were first offered in September.
"They have been signed by the players and we are waiting on the IPL to come back with confirmation," said England all-rounder Paul Collingwood.
It is thought up to six England players could be involved in the IPL.
Kevin Pietersen and Andrew Flintoff are sure to be two of the hottest properties at the player auction on 6 February.
The ECB had previously insisted it would only release England players for a two-week window, which IPL chief Lalit Modi said was not acceptable.
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A compromise now seems to have been reached, with players selected in England's squad for the first Test against the West Indies at Lord's starting on 6 May being available to play in the IPL for up to 21 days.
Those players not selected will be available to play in the IPL for up to 28 days.
The initial list of players for the next IPL auction will be published on Friday, with 27 January the closing date for additions.
England central contracts: James Anderson, Ian Bell, Stuart Broad, Paul Collingwood, Alastair Cook, Andrew Flintoff, Stephen Harmison, Monty Panesar, Kevin Pietersen, Ryan Sidebottom, Andrew Strauss, Michael Vaughan.
Matt Prior, Tim Ambrose, Ravi Bopara, Samit Patel, Owais Shah, Graeme Swann and Luke Wright have incremental deals.
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