AGENCIES, Kolkata: The national governing body for cricket in India, the Board of Control for Cricket in India (BCCI) has announced that it has decided to implement strict cost cutting measures. As a result of this decision, the Indian Premier League (IPL) prize money for 2020 takes a big hit as it will be halved when compared to 2019.
In an official circular sent to all IPL franchises, the BCCI has notified that instead of the Rs 20cr payout, the IPL champion team will now receive Rs 10cr only. “The financial rewards have been reworked as a part of the cost cutting measures. The champions will get Rs 10cr instead of Rs 20cr. The runners-up will get Rs 6.25cr from earlier Rs 12.5cr,” a BCCI notification read.
The two losing qualifiers will now get Rs 4.375 cr each.
A senior BCCI source said that the financial health of the franchisees was good and there’s no need to be concerned about their welfare as they have additional sources of income
“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 official said.
However, a state association hosting IPL games will get Rs 1cr each with franchises and BCCI contributing Rs 50 lakh each.
At the orgnisational level, cost-cutting policies will also impact mid-level BCCI employees who won’t be permitted to travel business class in short haul flight flights – mostly flying to the Asian countries (Sri Lanka, Bangladesh, UAE) where the flying time is less than eight hours.