The 16th edition of the Indian Premier League (IPL) is down to its last match and defending champions Gujarat Titans (GT) is set to take on four-time champions Chennai Super Kings (CSK) in finals on 28 May (Sunday) at the Narendra Modi Stadium, Ahmedabad. Apart from all the glory, the winning team will also earn a hefty amount of money as a prize.
The evolution of Prize Money in IPL
During the inaugural seasons of 2008-09, the prize money for the final four teams in IPL are kept like this- ₹4.8 crore for the winning team, ₹2.4 crore for the runner-up, and the teams on the third and fourth player used to get ₹1.2 crore each.
Then during the 2010-13 seasons, the prize money was increased to ₹10 crore for the winning team and ₹5 crore for the runners-up. During 2014-15, a jump of ₹5 crore was witnessed and the winning amount came to ₹15 crore.
In 2016, the winning amount was decided as ₹20 crore and since then it was not changed, except during the Covid-19 pandemic, when it was reduced to ₹10 crore. The amount for runner-ups has ranged from ₹11 crore in 2016 to ₹13 crore in 2022, but the winning amount has not seen any change.
Prize Money for IPL 2023
According to the sports website SPORTSTAR, for IPL 2023, the total prize purse for teams is ₹46.5 crore. The winning team is expected to receive the same amount of money i.e. ₹20 crore and the runners-up are expected to receive ₹13 crore. The team in third place, Mumbai Indians will receive ₹7 crore, while the team in fourth place, which is Lucknow Super Giants will receive ₹6.5 crore.
SPORTSTAR also mentioned that in the last couple of seasons, the individual prizes are made more attractive with the Orange Cap and Purple Cap winner slated to receive ₹15 lakh. The Emerging Player of the season will receive ₹15 lakh, while the Most Valuable Player of the season will receive ₹12 lakh.
The Power Player of the Season will receive ₹15 lakh, while the Super Striker of the Season and the Game Changer of the Season will receive ₹12 lakh.
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Updated: 27 May 2023, 07:38 PM IST
