Andrew Strauss said that while he understood why Kevin Pietersen wanted to play in the IPL, he could not let him choose the cash-rich league over Test cricket.
Geoffrey Boycott and Andrew Strauss both received the honour for their services to the sport after outstanding careers for England.
Andrew Strauss believes that if Eoin Morgan decides not to carry on as the leader of the group, Jos Buttler can replace him at the helm.
Ben Stokes scored 84 not out against New Zealand at Lord's on Sunday to force a Super Over in which he and Jos Buttler pushed England towards their first World Cup crown.
England booked their first World Cup final appearance for 27 years with an eight-wicket rout of holders Australia at Edgbaston.
Ruth Strauss had died aged 46 of the rare form of lung cancer she suffered from in her home country of Australia.
Andy Flower, who has covered the role for the last four months, will continue in his interim capacity until December.
Kevin Pietersen said he now gets on "really well" with Andrew Strauss as he wished the wife of his fellow former England captain a full recovery from cancer.
There is sensitivity within the England camp about off-field behaviour after the controversy surrounding suspended star all-rounder Ben Stokes.
Ben Stokes will not travel with the England squad to Australia on October 28 but no final decision has been taken on his involvement in the Ashes.
Having witnessed the birth of his son Alfred on Saturday, Joe Root came back to India to rejoin the England limited overs squad on Wednesday ahead of three one-day internationals and three Twenty20 matches.
England cricket chief Andrew Strauss made it clear that anyone who opted out of the Bangladesh tour ran the risk of losing their international position if a stand-in did well in their absence.
England's tour of Bangladesh in October has gotten the green signal after the England and Wales Cricket Board's security delegation assessed the situation in Dhaka
Alastair Cook took over from Andrew Strauss as England Test skipper in 2012 and has enjoyed plenty of success during his time at the helm.
Tall scores in T20s and ODIs and even mishits from batsmen landing in the galleries have been a cause of concern for the experts, who feel that cricket is increasingly becoming a batsman's game.
Andrew Strauss reportedly told Moeen Ali that while the final decision was his, he should also be aware of the hectic schedule of the Indian Premier League for more than a month and half.
Top England players like Joe Root and Ben Stokes could be playing the Indian Premier League Twenty20 in future.
Prior to the Ashes, ECB director of cricket Andrew Strauss had ruled Kevin Pietersen's return out to the England side, which left the batsman fuming. However, following England's 3-2 series win, Pietersen has admitted that Strauss' decision was vindicated.