IPL Salary Cap Set In Stone

The Indian Premier League salary cap will remain in place for the next two seasons following a statement from the tournament's commissioner Lalit Modi.

In its inaugural season the IPL limited the amount each franchise could spend on players to $5million.

Australia captain Ricky Ponting has previously advocated the retention of the salary cap, fearing its removal would give the wealthier teams an advantage and lead to uneven contests.
There has, however, been opposition to the limit on spending most notably from Bangalore Royal Challengers' franchisee Vijay Mallya.
Despite that Modi ended speculation the salary cap would be lifted, or increased, in statement on Wednesday.
Modi also stated players would be bound by the three-year contractual agreement which they had signed prior to the start of the IPL.
"The three-year contractual clause was made public to both the franchisees and players prior to the auction (on February 20 this year) and the players' participation," Modi said.
"All the parties will abide by the terms and conditions laid down by the governing council.
"It is up to the franchisees to trade a player(s) when the trading window opens next year.
"They (franchisees) alone have the prerogative to decide on trading a player when the transfer window opens in 2009 just before the start of the IPL."
A fresh set of guidelines on transfer rules and the transfer window will be issued before the start of the 2009 season.