When the Indian Premier League got underway in 2008, it not only changed the perception of the game but also brought about a significant change in terms of prize money.
The winning side received Rs 4.8 crore, whereas the runner-up was awarded Rs 2.4 crore in the first couple of editions, in 2008 and 2009.
Back then, it was possibly the highest prize money for any cricket event. With DLF as its title sponsor and several top corporate outfits backing the league, the IPL eventually turned into a game-changer.
The IPL continues to be the premier tournament in the world, offering the highest prize money: Rs 20 crore for the winning team and Rs 13 crore for the runner-up. While there has been a four-fold rise in the prize purse since its inception, the Board of Control for Cricket in India (BCCI) plans to increase it further in the coming seasons, though the figure is yet to be finalised for this edition.
But as things stand, the total prize purse for teams is Rs 46.5 crore. The team finishing third receives Rs 7 crore, followed by the fourth team earning Rs 6.5 crore. This has been maintained for the last couple of seasons, and to make the league more attractive, the individual prize figures have gone up over the years.
Orange Cap & Purple Cap winners
The batter with the most runs is awarded the Orange Cap and a cash reward of Rs 15 lakh, whereas the Purple Cap winner, which goes to the bowler claiming the most number of wickets, also receives an equal amount of money.
The Emerging Player of the Tournament gets a cash reward of Rs 20 lakh, while the Most Valuable Player of the Season receives prize money of Rs 12 lakh. The other awards—Power Player of the Season, Super Striker of the Season, and Game Changer of the Season—come with cash rewards of Rs 15 lakh and Rs 12 lakh, respectively.
In this edition, along with the player of the match, there are six add-on awards for each league game, with each having a cash reward of Rs 1 lakh.
The Break-Up
In 2010, the prize money for the winner touched the Rs 10 crore bracket, while the runner-up received Rs 5 crore, and this continued till 2013. From 2014 on, the prize money was raised to Rs 15 crore for the winner, with the runner-up receiving Rs 10 crore, and then it was further upped by another Rs crore for the 2016 edition.
In 2017, the prize money was back to Rs 15 crore for the winner and Rs 10 crore for the runner-up, but it was again back in the Rs crore bracket for the winner and Rs 12.5 crore for the runner-up for the 2018–2019 editions.
Due to COVID-19, the 2020 edition saw the winner pocketing Rs 10 crore and the runner-up collecting Rs 6.25 crore. But in the 2021 edition, the BCCI gave away Rs 20 crore to the winner, and the runner-up prize money was increased to Rs 12.2 crore.
For the 2022–23 edition, the prize money for the winner remained constant at Rs 20 crore, but the runner-up got a bonus as the governing council increased it to Rs 13 crore.
IPL 2024 Prize Money: The BCCI has not yet declared the prize money for this season.
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