The much-awaited IPL 2024 final is set to happen between Kolkata Knight Riders (KKR) and SunRisers Hyderabad (SRH) at the MA Chidambaram Stadium in Chennai on Sunday (May 26). This season, the two teams will meet for the third time, with SunRisers aiming for their first victory against the Knight Riders after suffering defeats in the league game and Qualifier 1 by four runs and eight wickets, respectively.
Conversely, KKR aims to secure a hat-trick of victories and secure their third IPL title, while SRH will strive for their second trophy. As one of the wealthiest leagues globally, the IPL will see the champions receive ₹20 crore, while the runners-up will be awarded ₹13 crore.
The third and fourth-placed teams, namely Rajasthan Royals (RR) and Royal Challengers Bengaluru (RCB), will receive ₹7 crore and ₹6.5 crore, respectively. Meanwhile, the Emerging Player and the Most Valuable Player (MVP) will receive ₹20 lakh and ₹12 lakh, respectively. Additionally, the recipients of the Orange Cap (Virat Kohli) and the Purple Cap (Harshal Patel) will each be awarded ₹15 lakh. The prize money has increased significantly over the years.
In the inaugural season, champions RR received ₹4.8 crore, while runners-up Chennai Super Kings were awarded ₹2.4 crore. However, since 2021, the prize for winners has remained at ₹20 crore. Due to the COVID-19 pandemic, the prize was reduced to ₹10 crore in the 2020 season.
Notably, the prize money significantly exceeds that of the Women’s Premier League (WPL), where the champions and runners-up received ₹6 crore and ₹3 crore, respectively. However, it falls short in comparison to the IPL 2024 salaries of KKR’s Mitchell Starc (₹24.75 crore) and SRH’s Pat Cummins (₹20.50 crore).
IPL prize money exceeds other T20 leagues
The IPL offers much larger prize money compared to other international T20 leagues. In 2024, the PSL champions received ₹4.13 crore, with the runners-up getting ₹1.65 crore. Meanwhile, the winners of the 2024 BPL and 2023 The Hundred received Tk 2 crore (around ₹1.4 crore) and £150,000 (approximately ₹1.5 crore), respectively.
The champions and runners-up of the 2023-24 Big Bash League (BBL) received ASD 450,000 (approximately ₹3.7 crore) and ASD 260,000 (around ₹2.15 crore), respectively. Meanwhile, the winners and runners-up of SA20 were awarded 34 million Rand (about ₹15 crore) and 16.25 million Rand (approximately ₹7.2 crore), respectively.
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