The much-talked about Indian Badminton League (IBL), which is being promised as the vehicle to bring in big money to the nation’s shuttlers, will be launched on November 10 in presence of London Olympics bronze medallist Saina Nehwal.

The launch would be done at a Bandra hotel in the presence of Saina, national coach P Gopichand, other Indian badminton team members and Badminton Association of India (BAI) president Dr Akhilesh Das Gupta, it was learnt.

The League, that is to involve city-based franchise teams similar to cricket’s cash-rich Indian Premier League, vouches a total of $1 million as the prize money on offer, the “highest prize money in badminton anywhere in the world,” according to information put up on Sporty Solutionz Pvt Ltd’s website — the commercial partner of the BAI.

A quarterfinalist in the event, featuring both Indian and foreign players, would be richer by anywhere between Rs 2.5 to 3 lakh, as per the website.

The IBL’s governing council, chaired by Dr Gupta, also includes Gopi and former internationals Pradeep Gandhe and Vimal Kumar as its members.