IPL 2020: Prize money for champion, runner-up, and playoff qualifiers halved

In a circular sent to all the franchises, the BCCI has notified that instead of a whopping Rs 20 crore, the IPL champion will now receive only Rs 10 crore.

A state association hosting IPL games will get Rs 1 crore, with franchises and BCCI contributing Rs 50 lakh each.

A state association hosting IPL games will get Rs 1 crore, with franchises and BCCI contributing Rs 50 lakh each.   -  SPORTZPICS

The Board of Control for Cricket in India (BCCI) has decided to implement strict cost-cutting measures which includes the Indian Premier League (IPL) champion's prize money being halved as compared to that of 2019.

In a circular sent to all the IPL franchises, the BCCI has notified that instead of a whopping ₹20 crore, the champion will now receive only ₹10 crore.

“The financial rewards have been reworked as a part of the cost-cutting measures. The champions will get ₹10 crore instead of ₹20 crore. The runners-up will get ₹6.25 crore instead of ₹12.5 crore,” a BCCI notification, in possession of PTI, read.

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The two losing qualifiers will now get ₹4.375 crore each.

“The franchises are all in good health. They also have multiple ways like sponsorships to bolster their income. Hence the decision on prize money was taken,” a senior BCCI source said.

However, a state association hosting IPL games will get ₹1 crore, with franchises and BCCI contributing ₹50 lakh each.

It has also been learnt that mid-level BCCI employees won’t be allowed to avail business-class flights like earlier times for flying to the Asian countries (Sri Lanka, Bangladesh, UAE) where the flying time is less than eight hours.

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