Economic slowdown strikes IPL; BCCI slashes prize money
Board of Control for Cricket in India has reportedly slashed the Indian Premier League prize money by 50% for the upcoming season.…
Board of Control for Cricket in India has reportedly slashed the Indian Premier League prize money by 50% for the upcoming season. The decision is influenced by the economic slowdown.
The BCCI implementing strict austerity measures has decided to slash the IPL champion’s prize money by half from the past season. All the eight franchisees, the directly affected parties, have been 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 reads. The other two 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 when flying to the Asian countries (Sri Lanka, Bangladesh, UAE) where the flying time is less than eight hours.
The BCCI has reportedly reduced the play-off standing fund from the 2020 Indian Premier League season onwards. IPL franchisees have also been told that there will be no opening ceremony.
The Indian Premier League will see its prize money halved from the 2020 season onwards, with economic slowdown having hit the country lately.
InsideSport.co has also learnt that with no double-headers on the weekends (Saturdays), the BCCI will be hiring only three broadcast kits and the number of crew is also reduced significantly, saving a decent cost on the LIVE television production.
The winner of the 2019 edition of IPL had earned ₹ 20 cr prize cheque, which was to be divided equally between the franchise and the players. The runner-up received ₹ 12.5.
At least four franchises confirmed to TOI on Tuesday that they were not at all happy with the development. Two franchises further confirmed that they would be “debating” this with the concerned authorities, national daily Times of India has reported.
The BCCI’s venue agreement dictated that franchises would have to pay their respective state associations ₹30 lakh to host each IPL match. That fee has now been hiked by ₹ 20 lakh and franchises will now have to “Only players who have played in less than two complete matches in the playing XI or as a concussion replacement during the season may be subject to a player loan. The loan window will start at 9am on the day following the 28th match scheduled for the season or once all the teams have played 7 matches each, whichever is later”, the BCCI has conveyed to the franchises.
Following trials held in 2019 and a more comprehensive testing during the pink-ball Test in Kolkata recently, the BCCI is all set to introduce a new protocol for front/back foot auto no balls from this IPL. “In summary, the third umpire will take on responsibility for monitoring front / back foot no-balls,” the circular said.