It has been another high-profile scoop by the breakaway league after lapping up former West Indian skipper Brian Lara recently.
''They (Warne and McGrath) have signed contracts so that to me means that they have taken the deal,'' Kapil said.
''A few more young boys from Australia will be signed up. I can't give you their names, because contracts are still being negotiated.
Maybe they won't be superstars like Warne and McGrath, but they will still be stars,'' he was quoted as saying by The Australian.
ICL plans a million-dollar prize money Twenty20 cricket league involving six team representing six Indian cities.
Interestingly, the association marks the return of the three superstars all of whom had retired from the cricket.
Kapil, meanwhile, declined to comment the whether Warne would receive up to two million dollars to play in the league for three years or for that matter West Indian star Brian Lara would be paid 500,000 dollars a season.
Kapil ravishing the concept of ICL said it was ''the most exciting thing'' happened to the game of cricket and it also gave a stake to players as ''78 per cent of the money in world cricket is generated through cricket in India.'' The 'Haryana Hurricane' dispelling any notion about the motive behind setting up the league said, ''The objective of our new league is above all else to give hundreds of players around the world better jobs, better money, better opportunities,'' adding: ''If cricket in India does not get the sort of uplift it so desperately needs now, it will go the same way as hockey in the country.
''If we get good players into the league from around the world, that will improve standards and we'll find more talent and the game will be uplifted.
''I personally feel that we (in India) are feeding the entire cricket world financially and that some of the money (should go) back into promoting better cricket. But as things are, even our top players don't get much of a chance to play in local cricket. So the standard just never rises,'' he added.
Kapil said he much admired the set-up in Australia that enabled the country's top stars to play as enthusiastically in state cricket as they did as members of the national team, with the result that up-and-coming young players had an opportunity to compete with them, thereby raising standards.