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HIL increases salary cap by $75,000

Source : IANS
Last Updated: Sun, Oct 20, 2013 11:30 hrs

New Delhi, Oct 20 (IANS) Hockey India League (HIL) has decided to raise the franchisees' salary cap for its second season, scheduled from Jan 23 to Feb 23, by $75,000 (Rs.46 lakh).

HIL chairman Narinder Batra said the executive board decided this after the franchisees requested that the ceiling be raised.

"After the enormous success of inaugural HIL, our franchise partners requested for an increase in the salary cap in the coming season. Each franchise now has an additional Rs.46 lakh available to buy new players to complete its squad in place of permanent withdrawals for the coming season. The Mini Players Auction/Closed Bid is scheduled for Nov 18, with 154 players signing up for the auction," said Batra.

The salary cap in the inaugural season was $650,000 (Rs.3.96 crore) which has now increased to $725,000 (Rs.4.42 crore).

In the inaugural season, 70 top domestic players including the Indian national side as well as 50 internationals from Australia, New Zealand, South Africa, the Netherlands, Germany, Malaysia, Spain, and Argentina played for the five teams.

The inaugural season was won by Ranchi Rhinos.




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