September 23, 2008
The franchises of famous yet controversial T20 cricket league, the IPL are expected to have enough money to play around with and change the very look and composition of their respective teams.
The IPL’s governing council, which surprised many by offering to raise the $5 million-cap on buying players after a meeting on Tuesday, is planning to increase the stakes quite substantially. According to sources, it might go up by as much as two million dollars.
As per initial indications, the IPL is expected to take the buying limit to $7 million for the coming season. “It could be $1.5 million or even $2 million. Basically, we are looking at taking into account the inflation rate of 15% and more,” a senior cricket board official said.
“It will all, however, depend on the franchisees,” he added. Interestingly, all the IPL teams might not be keen on taking the cap up. IPL T20 cricket’s Team Jaipur, Kolkata and Mohali have given enough hints that they don’t want to expenses to go off the roof.
Also, it must be remembered that the IPL teams have signed up most of the players for three years. That the teams have signed up most of the players for three years. That means to buy additional resources they will need to have more money at their disposal.