T20 World Cup winner to get record prize money of $2.45mn

The International Cricket Council (ICC) on Monday announced a record-breaking prize fund of $11.25 million for the Men’s T20 World Cup 2024, with the winners set to receive at least $2.45 million – the highest amount in the tournament’s history.

The ninth edition of the mega event will see 20 teams competing over 28 days across nine venues in the West Indies and USA, making it the largest event of its kind.

“The runners-up will earn at least $1.28 million, while the losing semi-finalists will take home $787,500 each,” the cricket’s governing body said in a statement.

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It added that teams that do not advance past the second round will receive $382,500 each, and those finishing between ninth and 12th place will get $247,500 each.

Teams ranking from 13th to 20th place will each earn $225,000. Additionally, every team will receive an extra $31,154 for each match won, excluding the semi-finals and finals.

The tournament will see 40 matches in the first round, leading to the Super 8s, followed by the 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.

ICC Chief Executive Geoff Allardice remarked on the event’s historic significance.

“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,” he was quoted by ICC as saying.