Warner and Gayle are two of seven players with reserve prices at the maximum £125,000 level, alongside Pakistan’s Babar Azam, South Africa spinner Tabraiz Shamsi and West Indies trio Sunil Narine, Kieron Pollard and Nicholas Pooran.
A total of 585 players registered for the draft, with the eight competing teams able to choose from 285 foreign contenders, plus 250 domestic options.
Available English talent includes 21 capped internationals looking for deals, including recent Test debutants Alex Lees and Matthew Fisher, as well as Tom Banton, Liam Dawson and Olly Stone.
Selections were scheduled to be made behind closed doors on Monday before being made public a day later. New signings for the women’s competition, which does not have a draft system, are also set to be unveiled.
A combined total of 42 places still need to be filled across the men’s squads for the 100-ball tournament, including 11 vacant spots in the £125,000 bracket.
T20 World Cup winner Warner pulled out of last year’s launch tournament due to travel difficulties surrounding Covid-19 having been due to play for eventual champions Southern Brave.
The 35-year-old is the most high-profile Australian involved in the draft as compatriots such as Steve Smith, Pat Cummins, Mitchell Starc and Josh Hazlewood were not included on the lengthy list of hopefuls.
Obtainable foreign talent also includes the International Cricket Council’s top-ranked T20 batter (Babar), bowler (Shamsi) and all-rounder (Mohammad Nabi).
Spirit, who on Monday announced England’s World Cup-winning coach Trevor Bayliss as Warne’s interim successor, have the coveted first pick as a result of finishing bottom of the standings last year.
Men’s teams were permitted to keep hold of up to 10 players from last season before the retention window closed in February.
Following the draft, each side will make two further picks, which will be confirmed in June. One of these is the Vitality wildcard and allows teams to select an additional player for a £30,000 slot, while the other is the overseas wildcard.
The second season of the competition begins on Wednesday, August 3.
Defending men’s champions Southern Brave – who have retained the services of pace bowler Jofra Archer – will launch the tournament, hosting a Welsh Fire team which already includes England duo Jonny Bairstow and Ollie Pope.
Women’s matches begin eight days later, with Northern Supercharges travelling to reigning champions Oval Invincibles.