Sharne Warne and Shane Watson, both are terrific cricketer and has contributed a lot to the Rajasthan Royals team. Yousuf Pathan also is one of the best player of this shortest format of cricket and helps Rajasthan Royals in becoming the winner of IPL season 1.
Not retaining Yusuf Pathan in the team is definitely a surprise. There may be some reasons like the Team Franchise does not want to take Star Indian players which may be financially not acquired by them, as yusuf's value has increased.
I think Shane Warne and Watson can take rajasthan royal to the top in IPL season three. and Yousuf Pathan also there, He have the capacity to hit any balls by any bowler. He is the Key wealth of rajasthan Royals. So Rajasthan Royal is one of the Favorite Team in IPL Season 3.
The IPL season 3 has been already finished. And the franchise of the teams has retain very few players in their team for new contracts. The earlier contract was of 3 years. The banglore team has reatain Virat Kohli, and in the same way the Rajasthan Royals has retained watson and warne, not yusuf pathan.
This means there may be chance that yusuf pathan will be playing for other team in IPL 4.
I think this will be enough for updating your information. If you want to know more you can ask me freely.