The eight IPL franchisees, who are not that much happy with the BCCI’s recent decision to reduce the prize money to Rs 25 crore, will soon meet to talk about that over the board’s “unexpected” move. While the prize money which will be distributed among the top-four teams remains at Rs 50 crore, the play-off standing fund which will be distributed among the franchisees has been reduced to Rs 25 crore from Rs 50 crore.

Moreover, they will have to give Rs 50 lakh to state associations now for hosting an IPL game. Earlier it was Rs 20 lakh. The IPL 2020 will begin on March 29 where the first game will take place between Mumbai Indians and Chennai Super Kings in Mumbai.

“We are unhappy that the play-off standing fund has been halved. We were not even consulted. The franchisees have been discussing it informally and will soon have a formal meeting to discuss the issue,” an official from a South-based franchise told PTI.

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The winning team will now get Rs 10 crore from the play-off standing fund as compared to Rs 25 crore which they used to get earlier, runners-up will get Rs 6.25 crore instead of Rs 12.5 crore and Rs 4.3 crore each for teams which finish third and fourth (earlier it was Rs 6.25 crore) as well.

“It is a big hit. We are discussing it internally as well as with other teams. All the teams are meeting soon to discuss it,” said an official from another franchise.

However, the economic slowdown is the reason that the Board of Control for Cricket in India (BCCI) took this step as well. Ever since the inaugural edition of the Indian Premier League (IPL), it has been taking place for the very first time that they are now busy cutting their costs on multiple fronts too. Moreover, the board had decided not to host the opening ceremony of the IPL from this season on as well.