New Delhi, Mar 30:
Remodelling the IPL payment method, the Committee of Administrators (COA) today 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,” Presidents of a state unit said on the condition of anonymity. (PTI)
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