BCCI board has made an unexpected move and they have decided to cut down the price money to halve. The board announced that they would like to reduce the prize money of IPL that will be offered to the winning team. Earlier it was 50 crores but now it will be 25 crores. The eight IPL franchises are unhappy with the decision and they are planning to decide action against this move of the board.
The price is distributed among the four winning teams and now the play-off standing fund to be distributed has been slashed directly to halve. They have also said that they will be paying 50 lakhs to the state associations for hosting IPL matches and managing it so well throughout. The amount paid to the state association is increased by 20 lakhs.
An official from the south-based franchised told the PTI that they are not at all happy that the fund has been reduced and they did not know anything about it. Till now the issue is discussed by the franchises informally but they are planning to soon arrange for a formal meeting.
The distribution of the winning amount is also changed and the new amounts are discussed as follows – The winning team will get Rs. 10 crores as compared to the new winning amount. Runners-up team will get Rs 6.25 crores and the teams which secure the third and the fourth position will get Rs 4.3 crores each.
