There is a process going on to reduce the prize money by 50percent that is from 20crore to 10crore for the winners as per the decision by India’s cash rich cricket league and the Indian premier League.
Few decisions were strictly taken like the idea of removing the opening ceremony from this season, deducting the cost on multiple fronts and the decision is circulated to various stake holders and the franchises.
In this topic debate it is also discussed along with the cost-cutting to reduce prize money of the finalists to 6.5crores from this year onwards. In 2019, IPL winners achieved a prize money of 20crore while the runner up achieved a good sum of 12.5crore.
This season, finalists were to be receive 6.25crore and the third and fourth place which means loser of qualifier 2 playoff match and loser of the eliminatory play off match were set margin to receive an amount of 4.375crore after reducing from 8.75crore.
TOI reports says that the four IPL franchise were unhappy with the decision taken and were thinking to talk to the concerned authorities related to this.
As per the BCCI, the state associations which were about to take 30lakhs from each franchise and BCCI for hosting IPL matches will now be taking 50lakhs from both the individual parties.