NEW DELHI, March 4: The BCCI has decided to halve the prize money for this year�s IPL champions and the runners-up as part of its cost-cutting measures for the upcoming edition.
In a circular sent to all IPL franchises, the BCCI has notified that instead of a whopping Rs 20 crore, the IPL champion team will now receive Rs 10 crore. The glitzy events gets under way on March 29.
�The financial rewards have been reworked as a part of the cost cutting measures. The champions will get Rs 10 crore instead of Rs 20 crore. The runners-up will get Rs 6.25 crore from earlier Rs 12.5 crore,� a BCCI notification, in possession of PTI, read.
The two losing qualifiers will now get Rs 4.3 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. � PTI