Rajasthan Royals' skipper Shane Warne has created a road map for IPL based on "total transparency" which envisages a mid-event player transfer window and three 'super rounds' for fielding an extra foreign player during the tournament.
In an article on his website, Warne has put together six major ideas as how the IPL should move ahead in future since the current players contracts will expire before the 2011 season.
The Australian spin legend suggested that all players be put up for auction and the original franchises be allowed to buy them back for a premium, besides making suggestions on umpires and bowling laws and salary caps of captains.
"No retention of players is a must to achieve total transparency in regards to the salary cap. It will increase the creditability of the IPL as the players' final price will be established at the auction, whatever that may be," Warne wrote on his website.
"However, the player can then be offered back to his original franchise for an extra $50,000. If the player is important to the franchise, the extra $50,000 will be paid to the player to keep him at the franchise; if not, he plays for his new franchise.
"All players bought at the auction should continue to receive three-year contract for the auction value per year," he added.
Warne also suggested a raise in the salary cap from the proposed $7 million to $9 million. He also stressed that all franchises appoint their captains well before the auction and not include them in the salary cap.
"If a franchise wants a particular captain, either their existing captain or a new one, they need to negotiate and agree to a deal," wrote Warne.
"If current captains cannot agree to a deal, he can potentially move to a new franchise as their captain or enter the auction. This will allow for owners, coaches and the captain to make their plans and strategies well before auction time," he wrote.
Warne believes all franchises should be allowed three 'super rounds', where they can field five overseas players instead of four and also suggested a player's trade window.
"During IPL4, I think franchises should be allowed 3 super rounds used at their own discretion. A super round would allow the franchise to play 5 overseas players instead of 4.
"I also believe there should be a trade period during the IPL season, around the half way point. During the trade period the franchises could be allowed 1 trade each, however, it would not be compulsory.
"However, if they did choose to trade a player, it would be on a loan basis for a set amount of games, perhaps 3. This could be a great option to recruit an international player who is not being used by another franchise," he wrote.