The runners-up will be awarded Rs 1.8 crores ($280,080), while the team that finishes in the third place will win Rs 1.2 crores ($186,720), according to a release.
The Most Valuable Player prize, previously awarded to Kabaddi stars like Anup Kumar and Manjeet Chillar, is also receiving a boost this season, with the awardee set to win Rs 15 lakh ($23,340).
A total of 12 teams will clash in 138 matches during the league, commencing on July 28 in Hyderabad.
PKL Commissioner Anupam Goswami said: "Even before the commencement of its fifth season, VIVO Pro Kabaddi has already traversed significant landmarks, beginning with a ground-breaking sponsorship deal, to record bids at the player auction, and now a remarkable elevation of the consolidated prize money.
"The winning sum to be awarded to season 5 champions is at par with renowned leagues, making the PKL trophy a highly coveted one."
The first match will see Telugu Titans take on new team Tamil Thalaivas.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
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Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.