IPL 2020 CHAMPIONS' PRIZE MONEY REDUCED TO HALF; BCCI DECIDES STRICT MEASURES!

As the 13th season of Indian Premier League (IPL) 2020 is around the corner, the Board of Control for Cricket in India (BCCI) has decided to halve the prize money for IPL champions and the runners-up this season. This decision has been taken as part of its cost-cutting measures for the upcoming edition.

Just days before the much awaited event, the BCCI sent a circular to all IPL franchises, notifying that instead of a whopping Rs 20 crore, the IPL champion team will now receive Rs 10 crore. While the two losing qualifiers will receive Rs 4.3 crore each.

Meanwhile, a BCCI notification, in possession of PTI read as, "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."

"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 added.

The notification also stated that the state associations hosting IPL games will receive Rs 1 crore and BCCI contributing Rs 50 lakh each. Also, the mid-level BCCI employees will not be allowed to avail business class flights like earlier.