Salary cap set at A$1 million for T20 "Big Bash"

Cricket Australia says eight city-based teams in Australia's revamped Twenty20 'Big Bash' competition will have a salary cap of A$1 million ($1.05 million).

The teams, including two each from Melbourne and Sydney, can sign up to 18 players, including up to two from overseas, within the cap, Cricket Australia said on Wednesday. Players will be paid retainers, not match fees.

Retired Sri Lankan spinner Muttiah Muralitharan and attacking West Indies all-rounder Chris Gayle are the highest-profile international players figuring in contract speculation.

The Indian Premier League, which spawned a number of domestic Twenty20 competitions around the world, imposed a $9 million salary cap on its clubs for its 2011 competition.