MUMBAI: The eight teams in the cash-rich league will now receive a sum of Rs 2.5 billion a year, which is a more than four-fold increase from the Rs 600 million each team used to receive annually in the last 10 years of the league’s existence, Mumbai Mirror reports.
The news of the hike was conveyed to the franchise representatives in an IPL workshop in Ahmedabad on Sunday, the report added.
The hike in disbursement from the central pool follows the BCCI’s sale of five-year global media rights to broadcaster Star India for a whopping Rs 163.47 billion. The deal effectively means that the BCCI will be receiving a sum of Rs 32 billion per season from Star.
The BCCI also hit a jackpot in the IPL title sponsorship deal in June last year, with Vivo retaining it with a Rs 21.99 billion bid — a 554 per cent increase from the previous contract — for the period between 2018-2022.
However, the teams will also have to shell out 20 percent of their annual income — which includes the Rs 2.50 billion that they will be receiving — to the BCCI.
The 11th season of the Indian Premier League kicks off on 7 April, with defending champions Mumbai Indians and comeback team Chennai Super Kings facing off in the opening game of the tournament. The two qualifiers and the eliminator will be contested between 22 and 25 May, with the final taking place on 27 May. Mumbai’s Wankhede Stadium will not only host the opening game, but also Qualifier 1 and the final.
