VVS Laxman will captain the Hyderabad side © Getty Images

PK Iyer, the CEO of the Hyderabad franchise, praised the “incredible team spirit” of VVS Laxman, who, according to Iyer, had withdrawn his “icon” status for the Hyderabad team. The act now has given them a bigger budget for buying players.

Had Laxman become the icon player for Hyderabad, he would have got 15% more salary than the next-highest-priced cricketer. Moreover, Hyderabad have decided to make Laxman the captain of the side.

Iyer said: “He [Laxman] went ahead and gave up the icon status in the interest of the team. “He said, ‘I will keep the team ahead’. He said he wanted the team to have a larger budget and he said he didn’t mind not being an icon as long as he led Hyderabad.”