Hyderabad: The Indian Premier League is regarded as one of the cash-rich tournament in the world of cricket. Many international, as well as domestic players' career and bank balance, changed overnight after getting sold in IPL's auction. However, now due to the unusual circumstance that the world is facing the Board of Control for Cricket in India (BCCI) has decided to implement strict cost-cutting measures.
What is the prize money is 2020?
The prize money of the league has been cut down to almost 50% as compared to the 2019 season of the tournament. In a circular sent to all the IPL franchises, the BCCI has notified that instead of a whopping ₹20 crore, the champion will now receive only ₹10 crores.
“The financial rewards have been reworked as a part of the cost-cutting measures. The champions will get ₹10 crores instead of ₹20 crores. The runners-up will get ₹6.25 crore instead of ₹12.5 crores,” a BCCI notification, in possession of a news agency, read.
The two losing qualifiers will now get ₹4.375 crores 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 was taken,” a senior BCCI source said.
What is the prize money in other big leagues?
India arch rival’s Pakistan also increases prize money for (PSL) 2020 edition. According to reports $2.1 million (above 7 crore rupees) paid to the winning team but comparatively its still less than IPL prize money. Australia's Big Bash League is giving 3 crores 31 lakh rupees to the winner of the tournament because the ticket revenue and tv rights money also paid IPL franchise.
Prize money in past?
India under the excellent leadership of MS Dhoni became the first country to win the World T20 in 2007 and inside one year the BCCI gave birth to IPL. A tournament was a big hit and soon became the cricket's most exciting league.
In 2008 the winner of the first season, Rajasthan Royals received a cheque of 4.8 crores. Eventually, it was increased by three times by 2014. The winner got 15 crores in 2014 and 2015.
The prize money again jumped in 2016 as it becomes 20 crores. In the year 2017 when the title sponsor of the league changed the prize money dropped to 15 crores and in the next two years it again becomes 20 crores.
Sports has taken a global hit in 2020 because of the novel Coronavirus pandemic. Many of the premier sports tournaments had to be called off or postponed as it was not possible to gather people around. With India being one of the majorly hit countries, the IPL 2020 was in danger of being called off. However, the BCCI has managed to get a full-fledged season in UAE, but with no crowds in the stadiums. This resulted in cutting down the prize money of IPL 2020 to 50 %.
