The cash-rich Indian Premier League (IPL) seems to have been affected by economic slowdown as the Board of Control for Cricket in India (BCCI) has reportedly decided to reduce the cash rewards for certain categories by half.
As per a report in the Times of India, in a circular sent by the BCCI, the Indian cricketing body has proposed a reduction of the cash rewards by 50%. The Indian board has stated that the winner of the IPL 2020 will get Rs. 10 crore, the runner-up Rs. 6.25 crore and teams that finish third and fourth respectively to get Rs. 4.375 crore each.
It is to be noted that the cash prizes that were given a season before, were twice the amount that has been proposed this time around, which is a big cause of concern for the franchises who could end up not making as much money as they used to.
The BCCI has also said that the state associations will earn Rs 1 crore per match which will be hosted by them, with the franchises and the board paying Rs 50 lakh each. Earlier, the franchises were paying Rs 30 lakh for each IPL match.
“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.
However, a state association hosting IPL games will get Rs 1 crore each with franchises and BCCI contributing Rs 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.