IPL: Increase in international cricket boards share to cost 24.64 crores

With every new edition of the IPL comes more excitement, entertainment, and money. The share of all the stakeholders is always on the rise. The money that the players make in the two months of the IPL is humungous. The new media rights cost 16000 crores that were purchased by Star India for five years. With added funds, it is imperative that the share of international boards for sending their players to play in IPL be increased.

The IPL general council, in its meeting in January, had proposed to increase the share from the current 10% to 20%. The decision will cost the BCCI an additional ₹24.64 crore for the Indian Premier League 2018 season. This 100% hike will act as an added incentive for the cricket boards to send their players to feature in the Indian premier league.

The winners and losers of the ICC finances

Cricket Australia will be the biggest gainer from this decision. The Australians will earn 95.60 crores in the form of IPL salaries for the 2018 season. Under the new proposal, the board will earn 19.13 crores that are 20% of the total salaries as against 9.56 crores which were 10% of the IPL salaries.

West Indies Cricket Board comes next for its revenue share of ₹9.56 crore. Interestingly enough, minnow Afghanistan gets better Indian Premier League revenue share than New Zealand, Sri Lanka, and Bangladesh. Nepal’s Sandeep Lamichanne’s 20 lakh contract will earn Nepal cricket board 4 lakhs.

To ensure that the players serve their full contractual terms, the BCCI while increasing the international boards’ IPL revenue share calculation base from 10% to 20% of their player’s net fee has also decided to release the payment on pro-rata basis. The earlier terms and conditions would ensure the boards 10% of their players’ contract value irrespective of a player’s availability or salary.

The Indian Premier League kickstarts on the 7th of April. The opening encounter will see Mumbai Indians square up against the Chennai Super Kings at the Wankhede.