Whenever there is a talk of IPL, the biggest thing that comes in front is money, because teams spend a lot of money on the players playing in IPL. But how do these players get the money, if you don’t understand then come and know the whole news.
How do they get the payment:
The player playing for any IPL team gets the money in 3 to 4 ways, first is the bid placed in the auction, i.e. the amount bid by the team during the auction of the players.
Second is match fees, apart from auction fees players also get a fixed payment per match, they get separate money for the number of matches played.
Third is reward, if a team wins the tournament then players also get a share from the prize money, apart from this things like man of the match are also included.
To put it simply, IPL is not behind in terms of money.
When does payment come: All the IPL teams work on the formula of 15:65:20.
What is the 15:65:20 formula:
What happens in this is that if a player joins a team for 1 crore rupees, then out of that 1 crore, 15% (15 lakhs) is given to him before the tournament starts, 65% (65 lakhs) during the tournament and the remaining 20% (20 lakhs) is received after the tournament is over.
Earnings other than IPL matches: Players also earn a lot of money apart from IPL, the biggest source in this is promoting different brands, apart from this, players also get separate payment for the company whose sticker is on their bat.
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