IPL 2020 prize money reduced to half by BCCI, franchises not happy: Report

cricketing community is all set to witness cricket carnival of India as 13th edition of Indian Premier League (IPL) is set to get underway from March 29. defending champions will square off against arch-rivals Chennai Super Kings in tournament opener at Wankhede Stadium in Mumbai.  tournament will take place for 50 days this year as opposed to customary 44 days.

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league phase will end on May 17 with Royal Challengers Bangalore taking on Mumbai Indians at Bengaluru as per IPL 2020 schedule.  IPL 2020 schedule for playoffs is yet to be anunced but final will take place on May 24. As per IPL 2020 schedule, Mumbai Indians will take on Chennai Super Kings in first match of IPL 2020. However, IPL 2020 prize money for playoffs is likely to see a change this season too.

IPL 2020 prize money for playoffs: BCCI reduces prize money for IPL 2020

As IPL 2020 is approaching quickly, re's been a development which is set to upset IPL franchises. BCCI has decided to implement strict cost-cutting measures. One of major decisions regarding cost-cutting is that IPL 2020 champions’ prize money will be halved as compared to 2019. According to a report from a leading media network, BCCI has already informed franchises about same.

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Sourav Ganguly-led BCCI has reduced IPL 2020 prize money. IPL champions, who used to receive a massive ₹20 crores, will w only receive ₹10 crores. On or hand, runners-up, who used to get ₹12.5 crores, will w receive only ₹6.25 crores, which is exactly half of previous amount. two losing qualifiers will w be rewarded with ₹4.375 crore each.

A BCCI official explained reason behind taking decision. He said franchises are all in good health and y have multiple ways like sponsorships to increase ir income. Hence, decision to reduce IPL 2020 prize money was taken. However, global ecomic slowdown could also be a reason behind decision. 

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report also stated that state associations that will host IPL games will get ₹1 crore each with franchises and BCCI contributing ₹50 lakh each. In ar development, mid-level BCCI employees won’t be allowed to avail business class flights for flying to Asian countries (Sri Lanka, Bangladesh, UAE) where flying time is less than eight hours according to Sourav Ganguly-led administration.

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IM COURTESY: INDIAN PREMIER LEAGUE TWITTER