Indian Premier League or IPL also known as a cash-rich league among the cricket community finally announced their total prize pool for the 2023 edition.
IPL 2023 Prize Money
As per the report, the prize pool for teams in IPL 2023 is Rs 46.5 crore where the IPL 2023 winning team will bag INR 20 crore while the runner-up will receive INR 13 crore.
The team finishing third will receive INR 7 crore, followed by the fourth team earning INR 6.5 crore. The prize amount has been maintained the same for the last couple of seasons, and to make the league more attractive, the individual prize amounts have been increased on comparing to the last season.
- The winners of the Orange Cap and Purple Cap will take home INR 15 lakh each.
- The Emerging Player of the tournament will bag a cash award of INR 20 lakh.
- The Most Valuable Player of the season will get a cash reward of INR 12 lakh.
From 2010 to 2013, the tournament witnessed a substantial increase in the prize money, with the winners earning INR 10 crore and the runners-up receiving INR 5 crore.
In spite of the spot-fixing controversy, in the 2014 and 2015 seasons, the IPL further increased the prize money, with the champions receiving INR 15 crore and the runners-up bagging INR 10 crore.
From 2016 to 2019, the prize money remained fixed at INR 20 crore for the winner and INR 11 crore 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 the 2021 and 2022 seasons, the prize money for the winner was reinstated to INR 20 crore, while the runner-up was awarded INR 13 crore.
The IPL 2023 final will be played between Chennai Super Kings and Gujarat Titans on May 28 in Narendra Modi Stadium, Ahmedabad.
