Indian Premier League (IPL) has been a money-making machine since its inception in 2008. Every season millions of dollars are invested in the high-profile T20 league, with most of the budget spent on bidding for the International and national players.
However, BCCI has been forced to take action and cut short the budget of one of the most grandeur T20 leagues in the cricket world. BCCI has decided to halve the winning and runners-up prize money in order to reduce expenditures on the upcoming Indian Premier League season. The winning prize is set to be reduced from whopping 2.72 million USD to 1.36 million USD and the runners-up prize money will also be halved.
On the other hand, news also suggests that BCCI is also planning to take action on the extravagant opening ceremony which displays the performance of Bollywood and International icons. Recently, the Board of Control for Cricket in India also increased the amount that the franchise owners have to pay in order to host a game. These events suggest that BCCI is trying to ameliorate its expenses on one of the most luxurious cricket leagues in the world and making it a more sustainable business.