The DLF Indian Premier League (IPL) franchise owners are sharply divided over the $5-million cap imposed by the cricket board for buying players.
Before the players' auction in February this year for the first edition of the 20-20 over tournament, the Board of Control for Cricket in India (BCCI) had informed the eight team owners that the maximum amount each team could spend on players was $5 million.
However, with the teams having the right to trade players from the upcoming season, a few franchise owners want the bar to be increased, or scrapped.
While franchise owners like Vijay Mallya's UB Group (which is the owner of Royal Challengers Bangalore) are demanding a relaxation in the cap, the GMR Group, which owns the Delhi Daredevils, and Shah Rukh Khan's Kolkata Knight Riders say they want the restriction to stay.
"We would like to retire players who haven't played or performed (in the inaugural edition). If any player needs to be substituted then we have to buy out their contacts since the cricketers are contacted for three years. To manage this within the limit of $5 million is not an easy task," said Vijay Rekhi, president of UB Group.
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Indian Premier League is a BCCI (Board of Control for Cricket in India) promoted Twenty20 tournament that is set n similar lines of the NBA (National Basketball Association) in the US, and English Football League in the UK. In fact, it can be aptly said that this league is a reactionary action in response to ICL (Indian Cricket League), a venture of the Essel Group.
The BCCI promoted Twenty20 IPL (Indian Premier League) is expected to be launched in the month of April, 2008. The novelty of this league is the feature of auctioning players to different participating team that is based on the franchise model. Owing to this feature it has attracted a lot of glitz from glam and business world including names like Shahrukh Khan, Ness Wadia, Preity ZInta, Vijay Mallya, and even Anil Dhirubhai Ambani.
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