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Franchisees to discuss prize-money cut
The eight IPL franchisees, who are unhappy with the BCCI’s decision to halve the prize money corpus to Rs 25 crore, will soon meet to decide the course of action over the board’s “unexpected” move.
By
migrator
migrator
New Delhi
While the prize money to be distributed among the top-four teams stays at Rs 50 crore, the play-off standing fund to be distributed among the franchisees has been slashed from Rs 50 crore to Rs 25 crore.On top of that, they will have to pay Rs 50 lakh to state associations for hosting an IPL game, an increase of Rs 20 lakh.
“We are unhappy that the play-off standing fund has been halved. We were not even consulted. The franchisees have been discussing it informally and will soon have a formal meeting to discuss the issue,” an official from a South-based franchise said.
The winning franchise now stands to earn Rs 10 crore from the play-off standing fund as compared to Rs 25 crore earlier.
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