Glitzy IPL slashes prize money in cost-cutting driveThe Indian Premier League has announced cost-cutting movesNEW DELHI - India's cricket board has slashed the prize money by half for the winners and runners-up of this year's IPL, the world's most popular and successful T20 league. "The financial rewards have been reworked as a part of the cost-cutting measures," the BCCI said in a circular sent to the franchises. The prize money for the runners-up has also been halved. Hence the decision on prize money taken," the Press Trust of India quoted a senior BCCI source as saying. In 2017, Star India paid about $2.5 billion for five years of broadcast rights, the biggest TV deal seen in cricket.

Source: Bangkok Post March 04, 2020 06:56 UTC