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Slowdown blues hit IPL 2020 as BCCI cuts playoff prize money by half

The circular further stated that each franchise would now have to pay Rs 50 lakh to the association for every game it hosts

March 04, 2020 / 09:44 AM IST
Image courtesy: BCCI, IPL

Image courtesy: BCCI, IPL

The Board of Control for Cricket in India (BCCI) has decided to halve the prize money allotted to the four franchises that reach the play-offs of Indian Premier League (IPL) 2020. This means the four franchises, which earlier shared Rs 50 crore between them, will now share Rs 25 crore, Mumbai Mirror reported.

A circular has been sent out to all franchises on February 28, the report said. In the circular, BCCI also did not mention any reason for reducing the play-off fee to half. It just mentioned the play-off standing fund amount.

“The play-off standing fund for 2020 will be as follows: final winner Rs 10 crore; runner-up (loser of the final) Rs 6.25 crore; third place team (loser of qualifier two play-off match) Rs 4.375 crore; and 4th place team (loser of the eliminator play-off match) Rs 4.375 crore,” the circular said.

In the previous season, the four teams shared a total prize money Rs 50 crore among themselves: Rs 25 crore for the champions, Rs 12.5 crore for the runners up, and Rs 6.25 crore each for the other two.

The circular stated that each franchise would now have to pay Rs 50 lakh to the association for every game it hosts. The amount is Rs 20 lakh more than the previously paid amount of Rs 30 lakh.

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This increase of Rs 20 lakh per match means that each franchise will have to shell out an additional Rs 1.4 crore during the IPL season, the report said.

The decision has not gone well with the franchises, with the report quoting many of them as saying they would have preferred to have been consulted.

An official from a south-based team told the paper that such things could have been told to them at a meeting. "However, there was no such meeting held the owners held and they simply took the decision to increase some fees and reduce others," the official said.
Moneycontrol News
first published: Mar 4, 2020 09:44 am

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