Indian Premier League season 10 got underway in April 2017. IPL is a “sports brand” which is on the up considering how far the domestic indian T20 league has come in first 10 years. Financially it is the most lucrative T20 league in the world by far for both players and the participating teams. BCCI and IPL has announced a prize money hike for IPL 2017 where winners will pocket as much as US$4 million from the alloted US$7 million prize money fund.
IPL has a revenue sharing model pretty much similar to England’s Premier League football where most of the money comes from TV rights deal which is shared equally between the clubs while the central pool which include revenue from IPL title sponsors and other partner companies is also shared equally between all the teams.
Although small potion from TV rights deal money and small percentage from central pool makes up the yearly prize money fund. Which is distributed according to how the teams finish. We take a look at Indian Premier League prize money distribution system and how much is on offer for 2017 champions.
IPL 2017 Prize Money:
The total prize money pool for 2017 IPL season is set to be around $8 million (₹51 crore). The winners of 2017 IPL will get around $4 million (₹26 crore) while the losing finalists will take home as much as $2 million (₹12.9 crore). Other two teams in play-off will get ₹6.5 crore each.
|WINNERS||$4 million (₹25.8 crore)|
|Runners-up||$2 million (₹12.9 crore)|
|3rd Placed Team in Playoff||$1 million (₹6.4 crore)|
|4th Placed Team in Playoff||$1 million (₹6.4 crore)|
|Other four teams ?||Teams who don’t qualify for playoffs are not paid any prize money|
|Do players get prize money ?||YES, according to BCCI/IPL mandate half of the prize money won by team will be awarded to the players|
So now you know how much your team will get in prize money if they finish the playoff or go on to win the IPL 10 season. But where do this prize money go ?
According to BCCI/IPL mandate any prize money on offer will be shared between franchise and its players with 50%/50% ration. So if Mumbai Indians were to win IPL 2016 season, the $3 million awarded to the franchise will be divideded into two parts $1.5 million going to franchise while the rest $1.5 million will be distributed equally among squad