IPL prize money reduced by 50%: Report
The Indian Premier League (IPL) prize money has been reduced by 50% for the contests from 2020 onwards. The BCCI sent a circular to all stakeholders including the eight franchises, stating that the play-off standing fund is reduced, and there would be no opening ceremony from this season onwards. However, the franchises were not pleased with the board's decision. The winner of the contest will receive Rs 10 crore as the prize.