Sports Monks

IPL Prize Money Cut Down- Here is How Much The Playoff Teams Will Get This Season

BCCI has decided to halve the IPL prize money allotted to the four franchises that reach the play-offs of Indian Premier League (IPL) 2020. This is part of BCCI’s cost-cutting measure for the upcoming edition. A circular was sent to all IPL franchises in which the BCCI notified that instead of a whopping Rs 20 crore, the IPL champion team will now receive Rs 10 crore. The season is slated to begin on March 29.

A BCCI notification on the IPL prize money said, “The financial rewards have been reworked as a part of the cost cutting measures. The champions will get Rs 10 crore instead of Rs 20 crore. The runners-up will get Rs 6.25 crore from earlier Rs 12.5 crore,”. The two losing qualifiers will now get Rs 4.3 crore each.

“The franchises are all in good health. They also have multiple ways like sponsorships to bolster their income. Hence the decision on prize money taken,” a senior BCCI source said. However, state associations hosting IPL games will get Rs 1 crore with franchises and BCCI contributing Rs 50 lakh each.

It has also been learnt that mid-level BCCI employees won’t be allowed to avail business class flights like earlier for flying to Asian countries (Sri Lanka, Bangladesh, UAE) where the fight time is less than eight hours.

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