When the Indian Premier League got underway in 2008, it not only changed the perception of the game, but also brought about a significant change in terms of prize money.
The winning side received Rs 4.8 crore, whereas the runner-up was awarded with Rs 2.4 crore in the first couple of editions – in 2008 and 2009. Back then, it was possibly the highest prize money for any cricketing event. With DLF as its title sponsor and several top corporate outfits backing the league, the IPL eventually turned into a game-changer.
15 years later, the IPL continues to be the premier tournament in the world, offering the highest prize money – Rs 20 crore for the winning team, and Rs 13 crore for the runner-up. While there has been a four-fold rise in the prize purse since its inception, the Board of Control for Cricket in India (BCCI) plans to increase it further in the coming seasons, though the figure is yet to be finalised.
But as things stand now, the total prize purse for teams is Rs 46.5 crore. The team finishing third receives Rs 7 crore, followed by the fourth team earning Rs 6.5 crore. This has been maintained for the last couple of seasons, and to make the league more attractive, the individual prize figures have gone up over the years. The batter with most runs is awarded with the Orange Cap and a cash reward of Rs 15 lakh, whereas the Purple Cap – which goes to the bowler claiming the most number of wickets – winner also receives an equal amount of money.
The Emerging Player of the tournament gets a cash reward of Rs 20 lakh, while the Most Valuable Player of the season receives prize money of Rs 12 lakh. The other awards – the Power Player of the Season, Super Striker of the Season and Game Changer of the Season – come with cash rewards of Rs 15 lakh and Rs 12 lakh respectively.
In this edition of the tournament, along with the player of the match, there are six add-on awards for each league game, with each having a cash reward of Rs 1 lakh each.
Prize Money offered across global sports tournaments
FIFA World Cup 2022
Champions League 2022/23
With quite a few leagues – the SAT20, the UAE league – already in the market and a few others in the pipeline, the BCCI is aware that going forward, the money game will be intense, and that’s why, it intends to revise the figures, possibly before the next season.
Changing the cricketing landscape, the IPL’s rise has been fascinating. From 2010 to 2013, the tournament witnessed a substantial increase in the prize money, with the winners earning Rs 10 crore and the runners-up receiving Rs 5 crore.
Even though the tournament was rocked by the spot-fixing controversy in 2013, it could not affect its brand value. In fact, in the 2014 and 2015 seasons, the IPL further increased the prize money, with the champions receiving Rs 15 crore and the runners-up bagging Rs 10 crore.
From 2016 to 2019, the prize money remained fixed at Rs 20 crore for the winner and Rs 11 crores for the runner-up. Though, in 2020, the Board proposed to cut down the prize money by half as a cost-cutting measure, things swiftly rebounded, and in 2021 and 2022 seasons, the prize money for the winner was reinstated to Rs 20 crore, while the runner-up was awarded Rs 13 crore