BCCI reduces IPL prize money by half | Is it the economic slowdown?

IPL

The Hush Post| 5:44 pm|one-minute-read|

Has the economic slowdown impacted cricket as well? Ahead of the IPL 2020, the BCCI has risked upsetting the IPL franchises by deciding to implement cost-cutting measures. The biggest regarding the cost-cut implementation is that IPL 2020 champions’ prize money. It will be halved as compared to 2019.

The BCCI has already informed all the franchises.

In the circular, the BCCI has notified that instead of a whopping Rs 20 crore, the IPL champion team will now receive Rs 10 crore only.
The runners-up used to earlier get Rs 12.5 crore. Now it will receive half of the previous amount.
The two losing qualifiers will now get Rs 4.375 crore each.

“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 read.

Explaining the rationale behind the BCCI’s decision to cut the prize money, a BCCI source said, “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.”

The report further stated that a state association hosting IPL games will get Rs 1 crore each with franchises and BCCI contributing Rs 50 lakh each.

In a related development, mid-level BCCI employees won’t be allowed to avail business class flights like in previous years for flying to the Asian countries (Sri Lanka, Bangladesh, UAE) where the flying time is less than eight hours.

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