Renowned cricket league IPL 2020 prize money has been reduced by 50 percent

According to the report BCCI has announced to cut IPL prize money by half just before when IPL is just couple of days away
Indian Cricket Board has been considered as one of the richest Cricket Board,
Moreover, the BCCI has also announced that there will be no opening ceremony of IPL this year
IPL 2020 winning prize money was 20 Crore Indian Rupees that is reduced to 10 Crore and runner up team will be awarded with 4.37 Crore Indian Rupees.
IPL administration has informed franchise owners but this may raise reservations.

IPL 2020 is couple of days away, starting from 29 March.