CSK vs GT IPL 2023 Final: How much will be IPL 2023 Prize Money is a question that has been doing since the end of the last final. BCCI has pocketed over Rs 66,000 Crore from sell of IPL Media Rights, WPL Media Rights, and sell of two IPL teams and 5 WPL teams. That is apart from sponsorship deals. Yet, for the last 7 years, BCCI has kept the prize pool stagnant. While there have been discussions over an increase, BCCI is silent if the franchises will get more from prize money. Follow IPL 2023 Final LIVE Updates on InsideSport.IN.
Currently, the winner of the IPL gets a prize money of Rs 20 Crore and the runners-up bag Rs 13 Cr. Since 2019, IPL Prize Money has only decreased once due to Covid before returning to 20 Cr mark last season. While a total prize pool of Rs 46.5 Cr is still the highest among all franchise tournaments, the latest windfalls should have led to further increases. But it has not happened yet.
“Unlike other leagues, prize money is not a big factor in IPL. But yes, we have not revised the prize money for some time and it’s due. We will discuss whether it warrants a revision soon,” a senior BCCI official told InsideSport earlier.
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IPL 2023 Prize Money: How much will the franchises earn?
While considering IPL’s brand value is $8.4 billion, the prize money seems way off. However, it’s never a driving factor in IPL. Instead, franchises earn from BCCI’s central pool. As the last media rights deal was estimated at Rs 48,390 cr, 40% of it will be distributed among 10 teams over the next five years.
That means one team will earn nearly Rs 2000 Cr. Apart from that, they will earn from sponsorship deals as well as gate money from ticket sales. That is the reason franchises are unperturbed by the stanganation in prize pool.
However, the Rs 20 Crore prize money is still the highest amongst all franchise T20 leagues. Furthermore, the franchises do not depend on 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,” a franchise CEO told InsideSport.
IPL Prize Money Break-up:
- Winner: Rs 20 Cr
- Runners-up: Rs 13 Cr
- 3rd Placed Team: 7 Cr
- 4th Placed Team: Rs 6.5 Cr
- Emerging Player of the tournament: Rs 20 lakh
- Orange Cap: Rs 15 Lakh
- Purple Cap: Rs 15 lakh
- Most Valuable Player: Rs 12 lakh
- Power Player of the Season: Rs 15 lakh
- Super Striker of the Season: Rs 15 lakh
- Game Changer of the Season: Rs 12 lakh
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