The Indian Premier League (IPL) is all set to scrap the $5 million cap on the players' salaries from next season onwards, a move that could see top cricketers earn as much as a whopping $15 million (Rs 61 crore approx).
The IPL had put a cap of $5 million (just over Rs 20 crore) for the franchises this year to prevent the very rich team owners from splurging too much.
But with the inaugural edition turning out to be a major success, the players are set to reap the rewards in the next season.
"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," IPL chairman and commissioner Lalit Modi was quoted as saying in The Daily Telegraph.
"It will happen - if not today, then tomorrow. Because once the franchises have established themselves, it will be a free-for-all," he added.
The report stated some leading Australian cricketers like Matthew Hayden and Brett Lee can expect a several-fold hike in their pays when they go back to play the next season after their short stints this time.
Indian ODI skipper Mahendra Singh Dhoni, who fetched the maximum bidding price of Rs 6 crore this season, reportedly told a senior Australian player last week that extraordinary contracts of up to $14-15 million were likely to be introduced by the next season.
Hayden confirmed that players were up for a financial windfall when the next season of the IPL gets underway.
"From what I have heard, some of the stuff (payments) this year could be just the tip of the iceberg," Hayden said.