IPL 2020: BCCI halves prize money as cost cutting measures

BCCI mid-level employees lose business class flying privileges.

Rohit Sharma led Mumbai Indians received INR 20 crores as 2019 winners | IANSThe Indian Premier League (IPL) is not only the most popular T20 cricket league in the whole world, but it is also the richest franchise-based league as well. The winner of the IPL is entitled to prize money of INR 20 crore rupees.

However, starting the IPL 2020 season, BCCI has decided to bring in cost-cutting measures and has cut the prize money in half. In a circular sent to all IPL franchises, the BCCI has notified that instead of a whopping Rs 20 crore, the IPL champion team will now receive Rs 10 crore only.

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Apart from the winners, the prize money received by the runners-up has also been reduced to INR 6.25 crore from earlier INR 12.5 crore.

"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," a BCCI notification, in possession of PTI, read.

The two losing qualifiers will now get Rs 4.37 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, a state association hosting IPL games will get Rs 1 crore each with franchises and BCCI each contributing Rs 50 lakh.

In another development, mid-level BCCI employees are no longer allowed to avail of business class flights for Asian countries like Sri Lanka, Bangladesh, UAE, where the flying time is less than eight hours.

(PTI inputs)

 
 

By Jatin Sharma - 04 Mar, 2020

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