The Hockey India League players' auction will take place here on December 1, nearly five weeks before the scheduled start of the inaugural edition of the event.
"The HIL Players' Auction will be a massive landmark in the history of sport since there has been no precedent in any league. It will give the six franchises the opportunity to bid for the best players and complete their squads," Hockey India secretary general (HIL) chairman Narinder Batra said here on Thursday.
"The base prices for the players vary from $3000-25,000. Since the teams have a salary cap of Rs 3.5 crore each ($650,000), we are sure that all players will be delighted with the financial compensation."