If the Same is allowed, then there would be no stopping the likes of Mumbai who can shell out how much ever they can. Do you think BCCI didn't had this happened, see the first 3 IPL editions they have allowed teams to sign Uncapped players as they like, teams took advantage of that. For that only Uncapped players are brought under Auction. If IPL is competitive, having the purse is the only reason otherwise it will be weighing too much towards 2-3 teams who shell out money.