NEW DELHI: The Indian Premier League (IPL), one of the
world’s richest sports competitions, will let teams splurge up to $12
million each on player salaries in 2018, an increase of 20 per cent.
After
a meeting in New Delhi on Wednesday, the IPL governing council also
said teams will have to spend a minimum of 75 per cent of the salary cap
each season.
The decision means the eight IPL teams are
likely to spend anywhere between $72 million and $96 million on players
alone for just eight weeks of cricketing action in 2018.
“Whatever
changes we have come up with are all in the interest of the players,”
IPL chairman Rajeev Shukla told AFP. “We are also looking to increase
the prize money for the players in future.”
While most of
India’s big name players are already attached to franchises, several
players bagged lucrative deals in the IPL auction in February.
England all-rounder Ben Stokes set a new record for a foreigner by joining the Rising Pune Supergiants for more than $2 million.
England
pace bowler Tymal Mills went to the Royal Challengers Bangalore for
$1.8 million, even though he had only played four T20 Internationals
before that.
The attractions of last-ball winning sixes,
extravagant switch-hitting and rapid-fire centuries have made IPL a
favourite of the masses, especially the younger generation.
The
IPL’s 60 games are valued at roughly $8.5 million each, not far off the
estimated $9.6 million per English Premier League match -- and well
over the $6.2 million price tag attached to home internationals in
India.
