Indian T20 League to have some major changes from the next season
Rohit Sharma-MS Dhoni (Image Source: BCCI/IPL)
The Indian T20 League 2022 winners will receive prize money of INR 20 Cr. This will be the second straight year that the prize money remains the same and BCCI has not increased the amount. However, as per reports by InsideSport, there is a plan in minds of BCCI authorities to increase the amount by 20-25% from the next season of the tournament.
To quote a senior BCCI official from his conversation with InsideSport-“That (increasing prize money) is currently under discussion. The prize money should be increased by 20-25% from next year. But the amount is not yet final. There should be a decision next year before the tournament.”
The last hike in prize money of the tournament was seen in 2016. Though the Indian board got richer by INR 12, 175 Cr with the sale of the Lucknow and the Gujarat franchise, still there has been no increase in the amount to be received by the winners of this year.
Here is a list of what the teams will receive as per their ranks in the tournament:
Winners: INR 20 Cr.
Runners Up: INR 13 Cr.
Third Place: INR 7 Cr.
Fourth Place: INR 6.5 Cr.
After it was raised to 20Cr. in 2016, the prize money was reduced to 15 Cr. in 2017. It was restored to INR 20 Cr. for the years 2018 and 2019. But in 2020 with the COVID pandemic hitting the global market, BCCI reduced the prize money to half at INR 10 Cr.
However, the BCCI has received a record amount of sponsorship deals of over INR 1,000 Cr this year. Adding to it is the hefty some earned from the sale of the two franchises. So, it may well be said that the board has enough money to increase the prize money for this year.
Speaking on the same the BCCI official said- “Yes, we are aware that the prize money hasn’t increased in the last few years. But you have to also account for the Covid and the related increase in cost. Hopefully, we will be able to revise it from the next edition.”
It is expected that the sales of the media rights for the next tenure of five years will add about INR 30,000 Cr to the BCCI funds. With the huge sum of money expected to arrive, a hike in the prize money can certainly be expected. However, a CEO of a franchise revealed that they do not depend a lot on the prize money as they get a big chunk of TV rights’ money from the BCCI.
“Well, if you put it that way, the prize money should increase every two years. With 10 teams, it should definitely increase. But as you are aware, it is only symbolic. Definitely, the players, who are picked for their base price or in lakhs get a good bonus. But from a franchise business point of view, it does not impact,”- said the CEO.
