The Board of Control for Cricket in India (BCCI), in a significant cost-cutting scheme, has halved the prize money allotted for the winners of the upcoming IPL 2020. The IPL 2020 winner will now earn ₹10 crore as compared to ₹25 crore earlier. This means that the Australian duo of Pat Cummins and Glenn Maxwell will earn more from IPL 2020 than the franchise that wins the tournament.
After the BCCI decided to reduce the play-off standing fee, the IPL 2020 prize money is now ₹10 crore, which was earlier ₹25 crore. The new IPL 2020 prize money allotment sees the runner-up earn ₹6.25 crore as compared to ₹12.5 crore earlier. The third and fourth-placed team will earn ₹4.3 crore each, compared to the ₹6.25 crore that they were earlier getting.
The changes also mean that each franchise will have to pay the state associations ₹50 lakh for hosting an IPL match. They just had to pay ₹30 lakh earlier.
Pat Cummins had a stellar 2019 and was one of the top stars available at the IPL 2020 auctions. The premier fast bowler was on multiple franchises' shortlist. This meant that Pat Cummins was a pricey buy. A bidding war ensued between Delhi Capitals and Royal Challengers Bangalore. However, it was ultimately Kolkata Knight Riders who snapped up Pat Cummins for ₹15.5 crore. Pat Cummins became the second most expensive player in the history of IPL and broke Ben Stokes' record of being the most expensive overseas player.
Glenn Maxwell, who had taken a break from cricket citing mental health reasons, was also one of the star attractions of the IPL 2020 Auction. The Aussie all-rounder was intensely chased by Delhi Capitals and Royal Challengers Bangalore. However, Glenn Maxwell sealed a return to Kings XI Punjab for ₹10.75 crore. The KL Rahul-led side would hope that the swashbuckling Australia star can repeat some of his BBL performances. Glenn Maxwell was part of the Kings XI franchise for four seasons from 2014 to 2017, before moving to Delhi Daredevils (now Delhi Capitals).
The IPL 2020 franchises are reportedly unhappy with the massive cost-cutting scheme applied by BCCI. The eight franchises will meet and decide a plan of action according to multiple reports. The IPL 2020 kicks off on March 29 with defending champions Mumbai Indians taking on arch-rivals Chennai Super Kings at the Wankhede Stadium in Mumbai.