BCCI to release funds before start of IPL 10
As per norm, each staging association gets Rs 60 lakh to host every IPL match.
New Delhi: Remodelling the IPL payment method, the Committee of Administrators on Thursday agreed to release match funds to state associations before they host their first match.
As per norm, each staging association gets Rs 60 lakh to host every IPL match. From the total amount, Rs 30 lakh is paid by the IPL franchise before the start while BCCI used to pay its share two weeks after the completion of the league.
However, in a departure from the current norm, the COA after a meeting with the officials from 10 state associations has decided that the BCCI’s share will also be paid before the start of the IPL season.
“We will get the entire amount before the first match at each centre. The COA was very receptive to our suggestions and said that from this edition the Rs 30 lakh per match that BCCI disburses for staging associations, it will be paid before the first match,” president of a state unit said on condition of anonymity.
The representatives of 10 staging units (Delhi, Karnataka, Mumbai, Maharashtra, Bengal, Punjab, UP, Hyderabad, Saurashtra, MP) met the COA to discuss disbursement of funds.
Therefore as per Thursday’s decision, the likes of Kolkata, Delhi, Bangalore will be getting a minimum of Rs 4.20 crore (Rs 60 lakh per match for minimum 7 games) before the start of the first match. Similarly, UPCA which is hosting two matches in Kanpur, will get Rs 1.20 crore.