IPL allow franchises to retain up to five players, wage cap risen by 20%

Last Updated: Dec 07 2017 14:53

CRICKET- IPL governing council on Monday allowed the franchises to retain up to five players and also increased the wage cap by 20% for the 2018 season.

Teams can now splurge up to $12 million each on player salaries in 2018 thus allowing them to spend anywhere between $72 million and $96 million on players alone for just eight weeks the IPL tenure in 2018.

 IPL chairman Rajeev Shukla said about the modifications, "Whatever changes we have come up with are all in the interest of the players.

“We are also looking to increase the prize money for the players in future.”