IPL 4 gets a new format

Two groups of five teams drawn by lots, but everybody plays everybody.
Each team plays other four in its group twice.
Also plays one team from other group twice (drawn by lots) and the rest once
No semis but total four play-off games.
No. 1 team vs No. 2 team.
Winner enters final.
No. 3 vs No. 4.
Winner plays loser of first match for a place in final

Players & Purses
$9 m purse for each team in the auction. Up by $2 m
Original eight teams can retain maximum four players (up to three Indians, max two foreigners) by mutual agreement
If four players retained, team’s purse for auction will reduce by $4.5 m
BCCI to be a party to all player-franchise contracts
Salary of uncapped, first-class players fixed at 10 lakh to 30 lakh
Teams’ catchment areas revised

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