IPL: Players are sold for crores, but only this much money comes into their hands!

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Indian Premier League: The Indian Premier League (IPL) is the world’s most lucrative domestic T20 cricket league, attracting top players from all over the world. With huge sponsorship and endorsement deals, IPL franchises are willing to spend extremely huge amounts so that they can get the services of the best players. Let us know how players are paid in IPL.

Salary structure of IPL players

Players are not paid all at once, but in three instalments. As per the latest IPL contract, the following payment structure has been introduced:

• 10% within 10 days of first match.

• 60% during the season.

• 20% after end of season.

• 10 percent of the players’ salary also goes to the board of that country.

This rule was followed for IPL 2023, which started in late March.

how much tax has to be paid

As per income tax rules, the respective franchises deduct TDS (Tax Deducted at Source) before releasing the money to the players. TDS is 10% for Indian players and 20% of the amount for foreign players. The player has to reach an agreement with the BCCI and the franchise regarding payment. In case of shortfall in payment by the franchisee; BCCI will pay.

Some circumstances for payment to IPL players

The following details some of the circumstances when IPL players are paid:

• There is a contract with the players for their plan.

• The interesting thing is that all the players who are not selected for the match will get their full money.

• For foreign players, the cricket board of the respective country gets the amount they have earned in IPL

Payment is also made to the board of the country where the player is from.

If the player is a foreigner, the cricket board of that country gets the amount he has earned in the IPL. Foreign IPL players are paid in the following ways:

• If a West Indies player is bought for Rs 5 crore in the auction, the West Indies Cricket Board is given Rs 1 crore, which is equalized between the BCCI and the respective franchises.

Earlier payment was made in dollars

When the IPL started in 2008, the bids on players were in US dollars and the players were also being paid in the same mode. However, IPL auctions and player salaries have been converted into Indian rupees since 2012.

What are the rules in case of injury?

In case of injury, if a player is injured during the season or during net practice, he is entitled to his entire salary, with the franchise covering his medical expenses. Payment in case of injury is made as follows : :

• If BCCI is not able to organize the entire IPL season, the players will receive their full salaries.

• Additionally, for Indian players who are under BCCI contract, if they miss the entire IPL season due to injury, they are compensated by the board.

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