IPL 2023 Prize Money: BCCI to increase PAY PURSE in Indian Premier League after SA20's massive announcement, READ HERE

The Indian Premier League is one of the biggest brands in world sports today. Its valuation has already increased by 75 percent this year to a total of Rs 91,000 crore which is a huge number. Thanks to IPL media rights going for great number as well as two new teams coming into the roster, the brand valuation has increased. Not to forget, in the years to come, IPL will expand to two to three months with ICC also clearing the window for the league. 

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With BCCI getting richer by every season, it is expected that the IPL will increase the prize money for the 2023 season. Currently, the total prize money in IPL is Rs 46.5 crore, which is the topmost in any cricket leagur going around the world. But SA20 league, the league in South Africa which will kickstart next year, has announced a whopping Rs 33.5 crore as prize money. ILT20 will surely make a big announcement too. With so many big leagues coming up and with enough money in the bank, BCCI is set to raise the prize money of IPL too too. 

In IPL 2022, the winner took away Rs 20 crore, followed by runners up Rs 13 crore while third place finish fetched you rs 7 crore and fourth place finish Rs 6.5 crore, making a total of Rs 46.5 crore. 

Presenting some of the _ Picks of the #TATAIPLAuction2023 ____

Which player's bidding war are you looking forward to the most _ pic.twitter.com/aNMYq1QCzL

— IndianPremierLeague (@IPL) December 21, 2022

"Unlike other leagues, prize money is not a big factor in IPL. But yes, we have not revised the prize money for some time and it’s due. We will discuss whether it warrants a revision soon," one of the BCCI officials told InsideSport.

As per a report, the BCCI officials are considering increasing the amount of IPL Prize Money by 20 to 25 percent. 

"That (increasing prize money) is currently under discussion. The prize money should be increased by 20-25% from next year. But the amount is not yet final. There should be a decision next year before the tournament," a senior BCCI official said. 

Not to forget, the Rs 20 crore prize money which the winner gets so far in IPL is still the highest for any cricket league. The team owners do not depend of the earnings from the prize money. Although winning leagues help them make their franchises a big brand, the majour source of earnings are the ads and the IPL media rights income which thr BCCI shares with the teams.