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Update IPL 2020 prize money set to reduce by 50 per cent

Economic slowdown seems to have hit the mighty BCCI too. Never the kind to penny-pinch, especially after the birth of the Indian Premier League (IPL), world cricket's proverbial 800-pound gorilla is now busy cutting costs on multiple fronts.

In a circular sent out to all the stakeholders of the IPL, including the eight franchises, the board has reiterated that it will not be hosting the opening ceremony of the IPL from this season on. The circular went on to add that the play-off standing fund is also being reduced for the same season.

The board has proposed a close to 50 per cent reduction in the playoff standing fund for 2020, a decision that is being hotly debated by the franchises right now. The circular sent out by the BCCI states that the winner of the IPL 2020 final will get Rs 10 cr, the runner-up will receive Rs 6.25 cr, and the third and the fourth-placed teams (loser of qualifier 2 playoff match & loser of the eliminator play-off match respectively) will receive Rs. 4.375 cr each.

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