IPL 2020: Prize money cut by half as winners set to get ₹10 crores

Indian Premier League (IPL) 2020 is set to conclude on November 10. The final is set to take place between defending champions Mumbai Indians and Delhi Capitals. The winners are set to get reduced prize money due to the financial impact of the coronavirus pandemic.

The Board of Cricket Control of India (BCCI) has decided to reduce the prize money by 50% this year. In a circular sent to all IPL franchises, the BCCI had notified that instead of a ₹ 20 crore, the 2020 champions will receive ₹ 10 crores. The runners-up will get ₹ 6.25 crores instead of ₹ 12.5 crores. The strict cost-cutting measures are a result of the coronavirus pandemic. The other two teams that made it to qualifiers will get ₹4.375 crores each.

IPL had no opening ceremony this year, which is likely to be a consequence of the financial restrictions imposed due to the pandemic. Moreover, hosting an extravagant opening ceremony does not make sense from a logistic point of view since strict protocols have been followed throughout the tournament.

BCCI is yet to reveal the price money for the Purple Cap, Orange Cap holders, the Emerging and Most valuable players of the tournament. Last year all of them were awarded ₹ 10 lakh each. Considering the decrease in team prize money, there could be a sizeable reduction in individual awards too.

The tournament was postponed back in March due to the Covie-19 pandemic outbreak. After many hindrances and altercations, the IPL was moved to UAE in September. The smooth functioning of the tournament was possible due to strict bio bubbles for players and staff. The sponsors made a lot of investments to make the tournament possible in such a short span.

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