Hyderabad: The International Council of Cricket (ICC) on Monday announced at least $2.45 million (₹20.37 crore), the highest amount in the tournament's history, for the winner as the board revealed the record-breaking prize amount of USD 11.25 million (₹93.47 crore) for the ongoing Men’s T20 World Cup 2024.
A total of 20 teams, for the first time, are participating over 28 days across nine venues in the Caribbean Islands and America, making it the largest event of its kind.
The tournament saw the surge of 53 per cent in the award money from the previous edition of the grand tournament. The previous edition saw England, the winners of the 2022 T20 World Cup, was awarded a whopping $1.6 million (₹12.8 crore), while Pakistan was given $800,000 (₹6.4 crore) for becoming the runner-up.
The losing semi-finalists of the tournament -- India and New Zealand each received $400,000 (₹3.2 crore) while a total of $70,000 (₹56.5 lakh) were awarded to each of the eight teams which didn't qualify for the knockout stage after the Super 12 round.
In the 2024 edition, the runners-up will earn at least $1.28 million (₹10.64 crores), while the losing semi-finalists will take home $787,500 (₹6.74 crores) each. Teams that will feature in the Super Eight round of the tournament will receive $382,500 (₹3.07 crores) each, and those finishing between ninth and 12th place will get $247,500 (₹2.05 crores) each.
Teams ranking from 13th to 20th place will each earn $225,000 (₹1.87 crores). Additionally, every team will receive an extra $31,154 (₹25.89 lakhs) for each match won, excluding the semi-finals and finals, the ICC said in a media statement.
"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 was quoted as saying in the statement.
The marquee tournament has started and 40 matches are to be played in the first round, leading to the Super Eights, followed by the knockout games including semi-finals in Trinidad and Tobago and Guyana. The final match will take place at the Kensington Oval in Barbados, where the 2024 men's champions will be crowned.
Meanwhile, the winners of the last ICC tournament - the 2023 ODI World Cup Australia - received a hefty prize money of ₹33 crore, while India, the runners up, was awarded ₹16 crore. The total prize money pool was $10 million (₹82.9 crores).
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