Reports | IPL prize money set to be halved to 10 crores in 2020

The BCCI has decided to halve the prize money of the 2020 IPL winners to 10 crores from last edition’s 20 crores that Mumbai Indians received for the 2019 edition. It is part of their cost-cutting measure for the 2020 edition. In a circular sent to the IPL franchises, the BCCI notified the teams that their prize money will be cut into half for this edition, which has an effect on the other prize money. 

“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, in possession of PTI, read.

“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 said, reported Sportstar. 

The runners up for the 2020 edition is set to receive Rs. 10 crores, with the third-placed and the fourth-placed to receive 4.375 crores each. Last year, the runners up received Rs 12.5 crore, with the third and the fourth-placed side getting Rs 8.75 crore. On the other hand, state associations hosting will get Rs 1 crore each, with franchises and the BCCI splitting it between them at Rs 50 lakhs.