The Board of Control for Cricket in India (BCCI) has decided to reduce the amount of money received by the winning and runners-up team in half by 2019 while cutting the cost for the upcoming Indian Premier League (IPL 2020) season. The IPL champion team received prize money of Rs 20 crore last year, which will be Rs 10 crore this year.
In the circular sent to all IPL franchise teams, the BCCI has informed that instead of Rs 20 crore, the IPL champions will get only Rs 10 crore.
According to the BCCI letter, “Financial rewards have been re-fixed as part of the cost-cutting process.” The champion team will get Rs 10 crore instead of Rs 20 crore. The runners-up team will be given Rs 6 crore 25 lakh instead of Rs 12 crore 50 lakh. In the two teams who lost in the qualifiers, each team will now get four crores 37 lakh 50 thousand rupees. A BCCI source said, “All the franchises are in very good condition. They have many ways like sponsorship to increase their income. That is why this decision was taken regarding the prize money.
The state association hosting the IPL match, however, will get Rs 1 crore, in which both the BCCI and the franchisees will contribute Rs 50 lakh. It has also been learned that BCCI mid-level employees will not get business class tickets of the aircraft to travel to Asian countries (Sri Lanka, Bangladesh, UAE) as before where the flight time is less than eight hours.
The first match of the IPL 2020 is to be played this time on 29 March at the Wankhede Stadium in Mumbai. The match will be played between Mumbai Indians and Chennai Super Kings.