New-look CPL for 2016
The salary cap of franchises has been raised for next year's Hero Caribbean Premier League, in what is one of several changes to the region's premier Twenty20 tournament.
Organisers announced yesterday the salary cap had been placed at US$780,000, up from $600, 000 from last year.
Also, franchises will now be able to sign one 'marquee' player as a free agent before next February's player draft, but will be allowed only three retained players instead of four.
The limit on overseas players has increased to five from four players while players who live in the franchise territory has been reduced from four to two. Squad sizes have also been increased by one to 17.
Tom Moody, CPL's International Director of Cricket, said the changes were designed to further improve the quality of the competition.
"Our aim each year is to make CPL even bigger and better so that we can attract the best T20 players in the world and make it as entertaining as possible for the fans," the Australian said.
"Over the past few months, we've worked alongside the franchise owners to make sure that the 2016 player draft is open and competitive so that the buzz and excitement of CPL will start building from January right through to the tournament launch in the summer."
He added: "From early January 2016, we'll start to reveal the franchise marquee players and the retained players so that by the time the draft comes around in February fans will already have plenty to talk about."
CPL involves six franchises:- Barbados Tridents, Guyana Amazon Warriors, Trinidad and Tobago Red Steel, Jamaica Tallawahs, St Kitts and Nevis Patriots and St Lucia Zouks - vying for the title of regional T20 champions.
Red Steel are defending champions after beating Tridents in last year's final in Port of Spain.
The tournament is heading into its fourth year.