The International Cricket Council (ICC) has made headlines once again with the announcement of record-breaking world cup prize money for the upcoming ICC T20 World Cup 2024. Scheduled to be held across nine venues in the West Indies and USA over 28 days, this tournament promises to be the largest of its kind, not only in scale but also in the rewards it offers to the participating teams.
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Winners and Runners-Up Prizes Money
June 3, 2024, the ICC revealed that the winners of the ICC T20 World Cup 2024 will be awarded a staggering sum of at least $2.45 million. This translates to approximately Rs 19.95 crore in Indian currency. Meanwhile, the runners-up will not be left behind, securing a hefty prize of at least $1.28 million, equivalent to Rs 10.64 crore. These substantial cash prizes reflect the prestige and competitiveness of this global cricketing event.
T20 World Cup 2024 Trophy, Image Credit: CNBC TV18
Total World Cup Prize Money Allocation
The total prize pool for the ICC T20 World 2024 has been set at an impressive $11.25 million, which amounts to around Rs 93 crore. This allocation underscores the significance of the tournament in the international cricket calendar and the ICC’s commitment to rewarding excellence and performance on the field.
Participation Rewards
Every team participating in the ICC T20 World Cup 2024 is guaranteed a minimum prize of $225,000, equivalent to Rs 1.87 crore. This ensures that all teams receive recognition for their efforts and contribution to the competition.
Rewards for Semi-Finalists and Super 8 Stage
Teams progressing to the semi-finals will vie for a prize of $787,500 each, totalling Rs 6.5 crore. Meanwhile, teams reaching the Super 8 stage but failing to advance further will receive $382,500 each, which equals Rs 3.1 crore. These prizes encourage teams to strive for excellence at every stage of the tournament.
Additional Rewards and Incentives
Beyond the top placings, the ICC has also allocated rewards for teams finishing in the lower ranks. Teams placed ninth to twelfth will each receive $247,500, amounting to Rs 2 crore. Additionally, teams earn $31,154 (Rs 25 lakh) for every match won during the tournament, except for wins in the semi-finals and final, which are not rewarded monetarily.
Significance of the World Cup Prize Money
Geoff Allardice, ICC Chief Executive, emphasized the historic nature of the ICC T20 World Cup 2024 and its impact on global cricket. He remarked, “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
1: Who will host the 2024 World Cup?
The 2024 ICC Men’s T20 World Cup is being co-hosted by the United States and West Indies in June. The final takes place at the Kensington Oval in Barbados on 29 June between South Africa and India.
2: What is the percentage of winning the World Cup of India?
67%
3: How much prize money will semi-finalists receive at the ICC T20 World Cup 2024?
According to the ICC press release, the losing semi-finalists will walk away with $787,500 each, which would be equal to Rs 6.5 crore.
4: How much prize money will teams entering the Super 8 stage receive at the ICC T20 World Cup 2024?
The four teams that fail to make it out of the Super 8s will earn $382,500 each, which will be equal to Rs 3.1 crore.
5: Are there any other rewards on offer?
The ICC further stated that the teams placed ninth, 10th, 11th, and 12th will receive $247,500 each, which will be equal to Rs 2 crore.
For each match that a team wins, they receive $31,154, which is equal to Rs 25 lakh. The wins in the semi-finals and final will not be rewarded with prize money.
The 55-match event will be played over 28 days, across nine venues in the West Indies and USA, making this the biggest ICC T20 World Cup ever.
Conclusion
The ICC T20 World Cup 2024 promises not only thrilling cricketing action but also substantial rewards for teams demonstrating skill, perseverance, and teamwork. With the prize money reaching new heights, the tournament aims to set new benchmarks in cricketing excellence and global sportsmanship. As teams gear up to compete across venues in the Caribbean and the USA, cricket enthusiasts worldwide eagerly await the spectacle that is the ICC T20 World Cup 2024.
Stay tuned for more updates and insights as the tournament approaches, and witness cricketing history unfold on the grand stage of the ICC T20 World Cup 2024.
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