Five teams will compete in the LPL’s fourth season in 2023, which will have an auction like the IPL.

For the fourth season of the Lanka Premier League LPL, a sale will be held for the first time in the league’s history. Officials of the event have said that the auction will be set up in the same way as the Indian Premier League auctions. The rules of the competition say that each franchise can choose a minimum of 20 players and a maximum of 24 players. At least six of the players must be from outside of India. Each squad’s highest salary will be set at $1 million per year.

The big names who have already signed up for the fourth season of the LPL include Pakistan captain Babar Azam, South African batter David Miller, Bangladesh all-rounder Shakib Al Hasan, and Sri Lankan star player Wanindu Hasaranga.

Before the sale, each team can spend up to $500,000 on four direct purchases with one right to match or three direct signings with two rights to match. Sri Lanka Cricket will give the winner of the LPL 2023 50 million Sri Lankan rupees in prize money. Also, the fourth Lanka Premier League will be held from July 30 to August 20 at the R. Premadasa International Cricket Stadium in Colombo and the Pallekele International Cricket Stadium in Pallekele. The schedule was made with Sri Lanka’s national duties and the schedule of the Caribbean Premier League in view.

The event director, Samantha Dodanwela, said, “This year, the window was shorter because we will be playing Pakistan. We have to wait until that series is over, and then we have to release players for the Caribbean Premier League, which starts on August 25.”

This will also be the first time the LPL is held in the planned time frame of July-August. The first three LPLs were held in December, the first two times because of COVID-19 and the third time because Sri Lanka’s economy was in bad shape at the time. Even though this is the fourth year of the game, there will still only be five teams. This year, the Colombo Strikers and the Kandy Falcons have new owners. The Colombo Strikers have changed their name from “Stars” to “Strikers.”