New Delhi, Nov 8 (IANS) The Hockey India League (HIL) players' auction will take place here Dec 1, five weeks before the competition is scheduled to start.
"The auction will give the six franchises the opportunity to bid for the best players and complete their squads," HIL chairman Narinder Batra said.
"The base prices for the players vary from $3,000 to $25,000. Since the teams have a salary cap of Rs3.5 crore each ($650,000), we are sure that all players picked will be delighted with the financial compensation they would be getting for playing in the league," said Batra in a press release.
Nearly 90 overseas and 150 Indian players have made themselves available for auction. As many as 144 players will find buyers since each of the six teams will have a maximum of 10 overseas and 14 Indian players.
The inaugural edition is scheduled to be held from Jan 5 to Feb 3, 2013.