IPL teams to pay annual increment to the players
The Board of Control for Cricket in India (BCCI) recently instructed all IPL teams to pay annual increments to the players.
Published - Dec 22, 2017 2:23 pm | Updated - Dec 22, 2017 4:07 pm
The Board of Control for Cricket in India (BCCI) has asked the Indian Premier League (IPL) franchises to share the entire prize money with the players and suggested increments to the players every year. This is likely to enhance a player’s performance and since the funds will be equally divided it will be beneficial for players who have not fetched a big amount at the auction.
The New Rule
The franchises will now have to distribute the entire prize money amongst the players, earlier they could keep 30 percent of the total money. The IPL winners receive 15 crores which will now be divided equally amongst the players of the winning team. In another new rule, the BCCI has increased the per diem fee for every player from Rs 3500 to Rs 5000.
“In addition to the league fee, the franchisee shall on or before 15 September in each relevant year pay to the Player the following sum (the “Incremental Performance Pay”) depending upon the position in the League occupied by the team at the end of the league matches. The player’s share of the relevant sum shall be equal to each other member of the squad (i.e. the sum shall be divided equally between all members of the Squad in each year). The reference to percentages is in each case a percentage of the salary cap for the relevant League Season,” the newly-framed rule reads.
How many increments will be given?
The BCCI has said that the No. 1 team will share 10 percent of Rs 80 crore player purse which will be Rs 8 crore in the first year, Rs 8.2 crore in the second year and Rs 8.5 crore in the third year. Likewise, if a team finishes second, it will have to distribute nine percent of the player purse which means Rs 7.2 crore will have to be paid to the players equally. For the third and fourth teams, it has to be eight percent, for the fifth-placed side, it has to be five.
The teams which do not make it to the playoffs are not obliged to pay any increments to their players.