In the inaugural season of the Indian Premier League (IPL) in 2008, the winning team received a prize money of INR 4.8 crore, while the runners-up took home INR 2.4 crore. Fast forward 15 years, and the upcoming champions are set to receive four times that amount, with a prize of INR 20 crore for claiming the title. The runners-up will be rewarded with INR 13 crore for their efforts.
Prize money over the years
According to reports in Sportstar, the Board of Control for Cricket in India (BCCI) has allocated a total prize money of INR 46.5 crore for this season's competition. The board has maintained the same prize money structure in recent years, with the winners receiving INR 20 crore since 2016. From 2016 to 2019, the runners-up were awarded INR 11 crore, which was revised to INR 13 crore starting in 2021.
Individual awards also lucrative
In addition to the team prizes, there are various individual awards in the IPL. The leading run-scorer of the tournament, known as the Orange Cap winner, and the leading wicket-taker, known as the Purple Cap winner, will each receive a reward of INR 15 lakh. The Emerging Player of the tournament will be awarded INR 20 lakh, while the player named the Most Valuable Player of 2023 will be presented with INR 12 lakh.
Other individual awards include the Power Player of the Season, the Super Striker of the Season, and the Dream11 Game Changer of the Season.
Furthermore, after each of the 74 IPL matches in 2023, a total of seven awards were given to individuals, including the Player of the Match award. Each of these awards carried a cash prize of INR 1 lakh.
IPL 2023 prize money for all teams:
1st place: INR 20 crore
2nd place: INR 13 crore
3rd place (Mumbai Indians): INR 7 crore
4th place (Lucknow Super Giants): INR 6.5 crore
