The Indian Premier League will see its prize money halved from the 2020 season onwards, with economic slowdown having hit the country lately. According to The Times of India, the BCCI sent a circular to all stakeholders of the IPL, including eight franchises, stating that the play-off standing fund is reduced, and there would no opening ceremony from this season onwards. The board proposed close to 50% reduction in the prize money for 2020, something not fully accepted by the franchise owners.
The winner will receive Rs 10 cr as prize, unlike last season, when they got Rs 20 cr. The runners-up will get Rs 6.25 cr, and the third and fourth-placed teams will receive Rs 4.375 cr each. Meanwhile, reports also state that that from this season onwards, overseas and capped Indian players can be loaned. The BCCI has also put in new travel policies for its staff. Earlier, more than three hours of flying time would lead to a business class ticket for senior employees. But now, they will have to fly economy if the hours are less than eight. IPL 2020 will commences on the 29th of March in Mumbai. In the opening encounter defending champions Mumbai Indians will take on Chennai Super Kings.
