ICC announce record prize money for 2024 T20 World Cup, winners to receive $2.45 million

The International Cricket Council (ICC) have revealed the record-breaking prize money for the ongoing T20 World Cup in the United States and the West Indies.

In a statement on Monday, the world cricket governing body shared that the total prize fund for the marquee tournament is $11.25 million (93.5 Cr INR), out of which the winning side will receive $2.45 million (20.3 Cr INR).

This is a jump of close to $850,000 from the last T20 World Cup, in 2022 in Australia, where the winners, England, pocketed $1.6 million. The total prize money for the tournament has more than doubled: from $5.6 million in 2022 to $11.25 million dollars in this year’s 20-team tournament.

The runners-up will earn at least $1.28 million, while the losing semi-finalists will take home $787,500 each, the ICC noted in its release.

Additionally the teams that don’t make it past the second round will be rewarded $382,500 each whereas those finishing between ninth and 12th place will get $247,500 each, and lastly, teams ranking from 13th to 20th place will each earn $225,000.

“This event is historic in so many ways, so it is fitting that the prize money for players reflects that. Hundreds of millions of fans around the world will be entertained by the players in what we’re hoping to be an Out of This World event,” ICC Chief Executive Geoff Allardice stated.

This edition of the T20 World Cup is the first to host 20 teams, divided in four groups equally. The top two sides from each group shall then progresses to the Super-8, slotted into two groups of four. The top-two sides from each group shall then proceed to the semifinals, which shall lead to the eventual finalists.

A total of 40 games will be played this edition, across nine venues from the USA and the West Indies.

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