Hockey India League has decided to raise the franchisees' salary cap for the second season of the Hero HIL, scheduled to be held from from January 23 to February 23, by USD 75,000 (Rs 46 Lakh).
Hockey India (HI) Secretary General and HIL chairman, Narinder Batra said the Executive Board accepted the request of the franchisees to raise the cap.
"After the enormous success of inaugural Hero HIL, our franchise partners requested for an increase in the salary cap in the coming season," said Batra.
"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 November 18, with 154 players signing up for the auction," he added.
The salary cap for each Franchisee in the inaugural season was USD 650,000(Rs 3.96 crore) which is now increased to USD 725,000 (Rs 4.42 crore).
In the inaugural season, 70 top domestic players including the Indian nationals and 50 international players, who are part of the national squads of Australia, New Zealand, South Africa, Netherlands, Germany, Malaysia, Spain, and Argentina played for the five franchisees.