Cricket

IPL 2018: Franchises to get first big remittance

Former Indian cricketer Arun Lal poses with the trophy of the VIVO Indian Premier League 2018 after its unveiling at a function in Kolkata on April 5, 2018.

Former Indian cricketer Arun Lal poses with the trophy of the VIVO Indian Premier League 2018 after its unveiling at a function in Kolkata on April 5, 2018.   | Photo Credit: AP

The franchisees have been assured a total remittance of disbursement of around ₹250 crore each for this season.

Each of the eight IPL franchises will receive a first instalment sum of ₹85 crore as its share from this season’s net central rights income. The total outgo for the BCCI/IPL from the first instalment will be ₹680 crore.

With Star India making a successful bid of the media rights at ₹16,347.50 crore and Vivo’s title sponsorship fetching ₹2,199 crore, both for the 2018-22 cycle, the IPL revenue has increased manifold. The franchisees have been assured a total remittance of disbursement of around ₹250 crore each for this season.

The BCCI received amount in rupees equivalent to $72 million each year as participation money from the franchises from 2008 to 2017.

Now the franchises will be paying 20% of their income to the BCCI. “The franchisees will not be in red from this season. The investment will start yielding good returns,” said a BCCI official.

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Printable version | Jun 2, 2020 6:23:56 PM | https://www.thehindu.com/sport/cricket/ipl-2018-franchises-to-get-first-big-remittance/article23721335.ece

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