IPL salary cap set to be scrapped
The Indian Premier League with its successful first season promises to get bigger and the players are ready to reap the fruits in the next season.
The five million dollar cap that governed the first set of player auctions of the DLF-IPL is set to be scrapped, so from the next season the teams could spend upto 61 crore per season and the salaries of most of the International stars is expected to go up six or seven fold. IPL Chairman Lalit Modi claims this could see the IPL players becoming the most highly paid sportspersons in the world.
The IPL had put a cap of $ 5 million (just over Rs 20 crore) for the franchises this year to prevent the very rich team owners from splurging too much.
"If we hadn't done that, I can tell you that our players would already be the highest-paid across any sport in the world," IPL chairman and commissioner Lalit Modi said.
"It will happen - if not today, then tomorrow. Because once the franchises have established themselves, it will be a free-for-all," he added.
Indian ODI skipper Mahendra Singh Dhoni, who fetched the maximum bidding price of Rs 6 crore this season, reportedly told a senior Australian player last week that extraordinary contracts of up to $14-15 million were likely to be introduced by the next season.
Hayden confirmed that players were up for a financial windfall when the next season of the IPL gets underway. "From what I have heard, some of the stuff (payments) this year could be just the tip of the iceberg," Hayden said.
With the collective cost of the Indian Premier League franchises predicted to be "over five times" in next five years, the Australian Cricket Association feels it is important to have a "designated slot" for the competition to prevent conflict with Test or One-day cricket.
ACA Chief Paul Marsh, after his recent 'IPL fact-finding mission in India', said the Twenty20 competition had gripped world cricket and administrators needed to embrace the new product.