IPL 2020 prize money reduced to half by BCCI, franchises not happy: Report

The cricketing community is all set to witness the cricket carnival of India as the 13th edition of the Indian Premier League (IPL) is set to get underway from March 29. The defending champions will square off against arch-rivals Chennai Super Kings in the tournament opener at the Wankhede Stadium in Mumbai. The tournament will take place for 50 days this year as opposed to the customary 44 days.

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The league phase will end on May 17 with Royal Challengers Bangalore taking on the Mumbai Indians at Bengaluru as per the IPL 2020 schedule. The IPL 2020 schedule for the playoffs is yet to be announced but the final will take place on May 24. As per the IPL 2020 schedule, Mumbai Indians will take on the Chennai Super Kings in the first match of the IPL 2020. However, the IPL 2020 prize money for the playoffs is likely to see a change this season too.

IPL 2020 prize money for playoffs: BCCI reduces the prize money for IPL 2020

As the IPL 2020 is approaching quickly, there's been a development which is set to upset the IPL franchises. The BCCI has decided to implement strict cost-cutting measures. One of the major decisions regarding the cost-cutting is that IPL 2020 champions’ prize money will be halved as compared to 2019. According to a report from a leading media network, the BCCI has already informed the franchises about the same.

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The Sourav Ganguly-led BCCI has reduced the IPL 2020 prize money. The IPL champions, who used to receive a massive ₹20 crores, will now only receive ₹10 crores. On the other hand, the runners-up, who used to get ₹12.5 crores, will now receive only ₹6.25 crores, which is exactly half of the previous amount. The two losing qualifiers will now be rewarded with ₹4.375 crore each.

A BCCI official explained the reason behind taking the decision. He said the franchises are all in good health and they have multiple ways like sponsorships to increase their income. Hence, the decision to reduce the IPL 2020 prize money was taken. However, the global economic slowdown could also be a reason behind the decision. 

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The report also stated that the state associations that will host IPL games will get ₹1 crore each with franchises and BCCI contributing ₹50 lakh each. In another development, mid-level BCCI employees won’t be allowed to avail business class flights for flying to the Asian countries (Sri Lanka, Bangladesh, UAE) where the flying time is less than eight hours according to the Sourav Ganguly-led administration.

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IMAGE COURTESY: INDIAN PREMIER LEAGUE TWITTER