Indian shuttlers in for a bonanza in IBL

"Nowadays an Indian player gets around Rs 10,000 as prize money if he reaches the quarter-finals of an event in India on an average. But in IBL he or she would take home Rs 2.5 to 3 lakh," said sources close to the setting-up of the cash-rich league.

"Each franchise team, whether it's six or eight as per the decision of the marketing firm dealing with the setting up of IBL, will have two foreign men and as many women in the team," the sources said.

"Like in IPL (Indian Premier League), there would be a governing council (10 in number) overseeing the running of the league, but Badminton Association of India would be owning it," said the sources, who confirmed that prize money will be around a USD one million.

"The governing council will be headed by the president of the BAI and will have as members the vice president, secretary, treasurer, four members of the Maharashtra Badminton Association (the chief movers behind the league), along with Pullela Gopichand (national coach) and Vimal Kumar (former international)," the sources said.

The League has got the clearance from the world governing body, they said, adding "BWF wants at least a 15-day gap between the league's conclusion and the start of a Super Series event in its calendar."

"The marketing agency which is putting forth the details of the league is 'Sporty Solutionz' based in Delhi and Singapore," the sources said.