Cricket confusion question

This here Indian League where teams have been bidding for players (e.g. Andrew Symonds cost £700,00). Just who were the teams buying the players off? (i.e. where does the money go/how much of it do the players get?) Anyone know? I can't see it mentioned anywhere.

 

Just found the answer

Should have looked a bit harder before posting! The money actually goes to the players and it is per year for a minimum 3 year contract. (A "year" is just 44 days of the tournamen as well!!) Amazing.