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IPL 2020 Prize Money Halved Amid Economic Slowdown, Franchises Unhappy

| Published on March 5, 2020

Well, the economic slowdown has also hit the super-rich cricket league. The prize money for the winner, runner up, and playoff qualifiers (third and fourth place teams) has halved, and the BCCI will not host the opening ceremony of the IPL from this season on.

In a circular sent to all IPL franchises by the BCCI, now the winner will get Rs 10 cr, the runner up will get Rs 6.25 cr, and playoff qualifiers will receive Rs 4.375 cr each.

In the previous edition of IPL, winners of IPL2019 received prize money of Rs 20 cr, while runner-up got 12.5 cr, and playoff qualifiers got Rs 8.75 cr.

According to news agency PTI, “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.

Franchises are not happy with this surprise move of the BCCI, and they are going to discuss the issue with the BCCI.

Cost-cutting measures not only come in the form of reducing prize money, but the BCCI has also increased the fee that franchises have to pay per game to the state association. It has now increased from Rs 30 lakh per game to Rs 50 lakh per game. The BCCI also pays state associations the same money per match as the franchises.

Hindustantimes.com reported that an official from a franchise said, “It is a big hit. We are discussing it internally as well as with other teams. All the teams are meeting soon to discuss it.

Well, the IPL opener is scheduled for March 29th at the Wankhede Stadium where Mumbai Indians defending champion will host the runner-up Chennai super Kings. Hope this issue will be addressed soon.

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