A professional Twenty20 cricket league in India is called the Indian Premier League (IPL). Every year, players from all over the world are auctioned off by franchises representing various Indian cities. There are two groups of players: capped players and uncapped players. Uncapped players have not yet represented their nation at the international level, whereas players with caps have participated for their national team.
Each organization is required to abide by a fixed salary cap while bidding for players. The IPL governing council determines the cap, which is then modified annually based on the state of the market. Franchises are free to bid on any player they choose, but they must watch out that their bids do not surpass their salary cap.
After a franchise wins a player's bid, the player is contracted to a contract for a year, with the possibility of an extra year's extension. The terms of the player's release as well as the player's pay and any bonuses are included in the contract information.
IPL contracts may be quite profitable for players overall, especially for those who are in great demand. The league now ranks among the most popular and lucrative cricket competitions in the world, drawing elite players from all around the world.