Mega auction looms as IPL salary cap goes up

The prospect of an Indian Premier League 'mega auction' has grown after it was revealed teams will be able to splurge up to AUD $16 million each on player salaries in 2018, an increase of 20 per cent.

After a meeting in New Delhi on Wednesday, the IPL governing council also said teams will have to spend a minimum of 75 percent of the salary cap each season.

The decision means the eight IPL teams are likely to spend anywhere between AUD $96 million and $128 million on players combined for just eight weeks of cricketing action in 2018.

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

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

Next year's IPL auction has been dubbed a 'mega auction', with reports that all players may be available for purchase and an increased salary cap in place.

While the Board of Control for Cricket in India (BCCI) is yet to clarify exactly how many players, if any, will be able to be retained by their current franchises, it's expected some of the biggest names in the world will be on the auction block and could spark a flurry of multi-million dollar bids.

Several players bagged big-money deals during the last IPL auction in February.

England allrounder Ben Stokes set a new record for a foreigner by joining the Rising Pune Supergiants for nearly AUD $3m.

England and Hobart Hurricanes pace bowler Tymal Mills went to the Royal Challengers Bangalore for $2.3m, even though he had only played four T20 internationals before that.

The attractions of last-ball winning sixes, extravagant switch-hitting and rapid-fire centuries have made IPL a favourite of the masses, especially the younger generation.

The IPL's 60 games are valued at roughly AUD $11.3 million each, not far off the estimated $12.8 million per English Premier League match - and well over the $8.3 million price tag attached to home internationals in India.