MUMBAI: The DLF-Indian Premier League (IPL) champion team will be awarded Rs. 4.8 crore, a media release said here on Friday.

Lalit Modi, Chairman and Commissioner, IPL, announced that the total prize money for the inaugural edition would be Rs. 12 crore.

Apart from the bounty for the winning team, the runner-up will earn Rs. 2.4 crore and the two losing semifinalists Rs. 1.2 crore each.

The prize money will be divided amongst other teams with the fifth finisher earning Rs. 80 lakh, sixth (Rs. 70 lakh), seventh (Rs. 50 lakh) and eighth (Rs. 40 lakh).

More In: SPORT | Today's Paper