IPL CHAIRMAN BRIJESH PATIL EXPLAINS WHY PRIZE MONEY OF FRANCHISES WAS REDUCED!

As the franchises seem quite unimpressive with the BCCI's recent move, IPL chairman Brijesh Patil on Wednesday said slashing the playoff purse should not be considered as cost-cutting. “It’s not cost-cutting. In 2013-14, to help the franchises, we had agreed to increase the money, but it was not part of the original contract,” said Patil.

According to a circular sent by the BCCI to franchises last week, winners of the tournament will get Rs. 10 crores (Rs. 20 crores earlier) while runners will receive Rs. 6.25 crores (Rs. 12.5 crores earlier). Teams securing the third and fourth places will get Rs. 4.375 crores each (Rs. 8.75 crores earlier).

Patil also clarified that the new decision should not be linked to the country's economic slowdown.  “In 2013, the franchises had requested saying they were not making money in IPL. So, BCCI thought we will also contribute so that player payments do not become an issue. Now, they are earning profits. It’s just loss in profit,” he said.

Expressing disappointment over BCCI not holding discussions with the franchises before making decisions, a franchise official said, “None of these moves was discussed with us. We being stake-holders, BCCI should involve us before making these decisions."