The Indian Premier League (IPL) is creating some interesting financial headlines. Today at foxsports.com.au and in the Melbourne Herald Sun newspaper, the head of the IPL, Mr Lalit Modi declared:
“We set a salary cap of $5 million [for the eight IPL franchises] for the first season … but if we hadn’t done that, I can tell you that our players would already be the highest-paid across any sport in the world”.
I recall Preston, Ross & Szymanski arguing for a pro cricket league a few years ago, in part on the grounds that cricketers were relatively underpaid. Pandora’s box is now officially open!