Seven England cricketers are contracted with various IPL franchises and are likely to be handed the security assessment report on Sunday.
A terror outfit has warned international players against participating in the event and England's Players' Association considers the threat credible enough, 'The Daily Telegraph' reported.
The security assessment has been prepared by England's security adviser Reg Dickason and has been commissioned by players' unions in Australia and South Africa as well.
"Sources have indicated that the threat is standing up to scrutiny and that the security report is unlikely to ease fears. The PCA has been contacted by England players with emotions said to be ranging from curiosity to genuine concern," the newspaper said.
The England players signed up for the IPL are Kevin Pietersen, Paul Collingwood, Eoin Morgan, Owais Shah, Ravi Bapora, Dimitri Mascarenhas, and Graham Napier.
"I am aware of the reported security risks and am in constant communication with Delhi Daredevils," said Collingwood.
"I will make a decision once I have had a chance to review all the available information and talk to the relevant people," Collingwood added.
IPL starts in Mumbai on March 12 and most cricket boards have left it on individual players to decide about their participation.
Federation of International Cricketers' Association Tim May has already warned that players may skip the event owing to security fears after the Pune blast.
"I think you'll find that some players are more risk averse than others and will probably stay at home," he said.
PCA chairman Vikram Solanki said FICA's assessment would be taken into consideration before advising the players.
"FICA is co-ordinating all matters as far as security is concerned. The players' security is paramount and a major concern for us. We are in the position of reviewing exactly what the position is and will advise the players accordingly," he said.
IPL does not deal with FICA and other individual players' bodies and has refused to provide them with any details of the security plans.