MUMBAI: The BCCI has decided to halve the prize money for this year’s IPL champions and the runners-up as part of its cost-cutting measures for the upcoming edition.
In a circular sent out to all the stakeholders of the IPL, as well as the franchises, the BCCI has notified that instead of Rs 200 million, the IPL champion team will now receive Rs 100 million. IPL 2020 gets underway on March 29.
Additionally, as much as 50% reduction of the standing fund has been proposed for the 2020 season.
“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 (Rs 62.5 million) from earlier Rs 12.5 crore (Rs 125 million),” a BCCI notification, accessed by PTI, reads.
The two losing qualifiers will now get Rs 43.75 million each instead of Rs 87.5 million.
“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,” a senior BCCI source told the newswire.
According to a report in Times of India, the board has stated in said circular that it will not host an opening ceremony of the IPL from this season. The circular went on to add that the standing fund for the play-off will also be reduced this season.
However, state associations hosting IPL games stand to gain as they will get Rs 10 million as hosting fees per game rather than Rs 5 million per game as was the case in previous seasons. Under the same agreement, the BCCI contributes the same money per match as the franchises to the respective state associations.
It has also been reported that mid-level BCCI employees won’t be allowed to avail business class flights like earlier for flying to Asian countries (Sri Lanka, Bangladesh, UAE) where the fight time is less than eight hours. “Barring two or three senior most employees, the rule will apply to all, including operational heads,” a BCCI source told TOI.
Franchises ‘unhappy’
Not surprisingly, the decisions made by the BCCI, without any consultations with the eight franchises (the world’s richest and most powerful cricket body acting true to form?), did not go down well with the teams.
“We are unhappy that the play-off standing fund has been halved. We were not even consulted. The franchisees have been discussing it informally and will soon have a formal meeting to discuss the issue,” an official from a South-based franchise told PTI.
The franchises will reportedly meet “soon” to decide a common response to the board’s “unexpected” move.
