A financial windfall awaits the world's leading field hockey stars when they play in a new Indian tournament next month on the lines of cricket's popular Indian Premier League (IPL).

The Hockey India League (HIL), sanctioned by the sport's world governing body, will have the top stars turn out for five franchised-based teams from January 17 to February 17, organizers said on Sunday.

Indian captain Sardar Singh was picked up by the Delhi Wave Riders franchise for an annual salary of $78,000 at an auction that began in New Delhi on Sunday.

Moritz Fuerste, named the International Hockey Federation's (FIH) player of the year for 2012 after helping Germany win two successive Olympic gold medals in Beijing and London, went to Ranchi Rhinos for $75,000.

Dutch veteran Teun de Nooijer, 36, was sold to the Uttar Pradesh Wizards for $66,000, while Punjab Warriors bought influential Australian striker Jamie Dwyer for $60,000.

Among other early gainers were Indian penalty corner specialist V.R. Raghunath ($76,000), Dutch goalkeeper Jaap Stockmann ($68,000) and Australian midfielder Eddie Ockenden ($65,000).

Mumbai Magicians was the fifth franchise in the fray.

The money paled in comparison to what cricketers make in the five-year-old IPL - where top players earn around $2 million a year - but was still a financial bonanza for the hockey stars.

Each of the five squads will have 10 foreign and 14 Indian players for the televised tournament described by HIL boss Narinder Batra as a "game changer" in the world of hockey.

Among the renowned coaches signed up by the franchises were Ric Charlesworth and Barry Dancer of Australia, and Roelant Oltmans of the Netherlands.

Hockey, often regarded as India's national sport despite the country's obsession with cricket, has been relegated to the background in recent years due to the team's poor showing in major events. And India failed to qualify for the Beijing Olympic Games in 2008 and finished last in London.

AFP - Global Times