NEW YORK: The International Cricket Council (ICC) has set a new record by announcing a groundbreaking prize money of $11.25 million for the Men’s T20 World Cup 2024.
In a media release, the ICC stated that the champions of the ICC Men's T20 World Cup 2024 will receive at least $2.45 million - the highest prize money in the history of this tournament.
The runners-up will get at least $1.28 million, while the losing semi-finalists will take home $787,500 each.
On the other hand, teams failing to qualify beyond the second round will receive $382,500 each, and those finishing between ninth and 12th place will earn $247,500 each.
Moreover, teams placed between 13th to 20th spot will each receive $225,000.
Furthermore, every team will be getting an additional $31,154 for every victory registered during the tournament, excluding the semi-finals and finals.
“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 said in a media statement.
A total of 20 teams will participate for the first time in the tournament's history. The 2024 edition of the ICC T20 World Cup will be held over a span of 28 days across nine venues in the West Indies and USA.
40 matches will be played during the group stage of this showpiece event. It will be followed by Super 8 (quarter-final) and then the semifinals which will be held in Trinidad and Tobago and Guyana.
The Kensington Oval in Barbados will host the final match where the champions of the 2024 men’s edition will be crowned.
ALSO READ: T20 World Cup: Two-time Champion West Indies kick off with win over Papua New Guinea (PNG)
ALSO WATCH: