The International Cricket Council (ICC) has revealed the prize money for the upcoming 2024 T20 World Cup, setting a new record with a total prize money of USD 11.25 million (roughly Rs. 93.5 crores). The winning team of the tournament will receive at least USD 2.45 million, which is equivalent to approximately Rs 20.36 crores. Meanwhile, the runners-up will get at least USD 1.28 million (roughly Rs. 10.36 crores) and the losing semi-finalists will get USD 787,500 (roughly Rs. 6.56 crores).
This significant increase in prize money compared to the last edition held in 2022 reflects the growing stature and popularity of the T20 World Cup. In comparison, the 2022 tournament had a prize pool of USD 5.6 million, with champions England receiving USD 1.6 million.
T20 World Cup 2024: Record Prize Money and Expanded Format Unveiled by ICC
The ICC emphasised that the winners of this year’s 20-team tournament will not only receive the highest prize money in the history of the event but will also lift the coveted trophy at Kensington Oval in Barbados on June 29.
Apart from the major prizes, the ICC has outlined the payouts for the teams based on their performance. Teams eliminated in the Super 8 stage will get USD 382,500 each, while teams ranked 9th to 12th will get USD 247,500 each. Participants ranked 13th to 20th will get USD 225,000 each. In addition, teams will get an additional USD 31,154 (approx Rs 2.5 crore) for winning each match, barring the semi-finals and final.
The ICC Men’s T20 World Cup, comprising 55 matches, will run for 28 days across nine venues in the West Indies and the USA. This edition is the biggest T20 World Cup ever, with a record 20 teams participating, including new arrivals such as USA, Canada and Uganda.
The tournament format consists of 40 matches in the first round, after which the top eight teams will advance to the Super 8 stage. After this, four teams will advance to the semi-finals, which will be played in Trinidad and Tobago and Guyana, culminating in the final in Barbados.
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