The Indian Premier League, one of the world’s richest T20 tournaments, will let teams spend up to a maximum of $12 million each on player salaries in 2018, an increase of 20 percent.

After a meeting in New Delhi on Wednesday, the IPL governing council also said franchises will have to spend a minimum of 75 percent of the salary cap each season. The aftermath of this decision suggests that the eight teams will spend anywhere between $72 million and $96 million on players alone for just eight weeks of cricketing action in 2018.

As per the reports of AFP, IPL chairman Rajeev Shukla said, “Whatever changes we have come up with are all in the interest of the players. We are also looking to increase the prize money for the players in future.”

While most of India’s big-name players are already attached to teams, several cricketers bagged profitable deals in the IPL auction in February.

In 2017 IPL auction, English all-rounder Ben Stokes set a new record for a foreigner by joining the Rising Pune Supergiants for more than $2 million. While, the pacer of teh same nation Tymal Mills went to the Royal Challengers Bangalore for $1.8 million, even though he had only played four Twenty20Is before that.

The IPL’s 60 games are valued at roughly $8.5 million each, well over the $6.2 million price tag attached to home internationals in India.