ICC Announced The Prize Money For The T20 World Cup, With The Winners Receiving USD 1.6 Million

The International Cricket Council (ICC) revealed the prize money for the men's T20 World Cup, which kicks off on October 17 in Oman and the United Arab Emirates.

ICC Announced The Prize Money For The T20 World Cup, With The Winners Receiving USD 1.6 Million
ICC Announced The Prize Money For The T20 World Cup, With The Winners Receiving USD 1.6 Million

The International Cricket Council (ICC) revealed the prize money for the men's T20 World Cup, which kicks off on October 17 in Oman and the United Arab Emirates. In a press statement, Cricket's World Governing Body announced that the tournament's champions will get a cheque for USD 1.6 million, while the runners-up will receive half that amount. There will be 16 teams taking part in the men's T20 World Cup, scheduled to be held from October 17 to November 14. Every participating team will receive part of the US $5.6m allocated as prize money for the tournament.

"The two losing semi-finalists will receive $400,000 each from the games taking place on 10 and 11 November. As in 2016, there will be a bonus amount for every match that teams win in the Super 12 stage. The victors in each of the 30 games in that phase will this time win $40,000, a total pot of $1,200,000," the ICC said in the media release.

The Super 12 stage will be the starting point for eight teams: Afghanistan, Australia, England, India, New Zealand, Pakistan, South Africa, and the West Indies. 

"Eight teams will receive $70,000 each, totaling $560,000, if their ICC Men's T20 World Cup campaigns finish at that stage. For first-round victories, the same format applies, with $40,000 available to players who win each of the 12 games, totaling $480,000. The four teams eliminated in the first round will receive $40,000 each from a total prize pool of $160,000 "According to the ICC press release. 

Meanwhile, the ICC also announced that there will be two scheduled Drinks breaks in each game, which will last for 2 minutes, 30 seconds and will be taken at the midpoint of each innings.

Prize Money table:

Winners - $ 1,600,000

Runners-Up - $ 800,000

Losing Semi-finalists - $ 400,000 each

Round 2 Wins - 3x 40,000 = $ 1,200,000

Round 2 Exit - 8x70,000 = $ 560,000

Round 1 Win - 12x40,000= $ 480,000

Total - $ 5,600,000