How much will teams earn during T20 World Cup 2022 in Australia?

A total prize pot of $5.6 million announced by International Cricket Council

Australia players winning the T20 World Cup in Dubai on Sunday, November 4, 2021. Chris Whiteoak / The National

Mitchell Marsh celebrates winning the T20 World Cup final. Chris Whiteoak / The National

Australia's David Warner scored a fine fifty to set up victory over New Zealand in the T20 World Cup final at the Dubai International Stadium. Chris Whiteoak / The National

Australia's Mitchell Marsh scored a superb fifty against New Zealand in the T20 World Cup final on Sunday. Chris Whiteoak / The National

David Warner celebrates reaching fifty at the Dubai International Stadium. Chris Whiteoak / The National

New Zealand captain Kane Williamson held the innings together with a fifty. Chris Whiteoak / The National

Australia's Steve Smith fields at the boundary. Chris Whiteoak / The National

New Zealand's Kane Williamson is caught on the boundary by Steve Smith. Chris Whiteoak / The National

Josh Hazlewood was the pick of the bowlers, taking 3-16. Chris Whiteoak / The National

Australia's Glenn Maxwell at the Dubai International Stadium. Chris Whiteoak / The National

The International Cricket Council (ICC) has announced the prize money for the men’s T20 World Cup 2022 that begins in Australia on October 16.

A total prize pot of $5.6 million has been set aside for the tournament, with the winners taking home a cheque of $1.6m.

The runners-up are assured of $800,000 while the losing semi-finalists will receive $400,000 each at the end of the 45-match tournament that will be played across seven venues in Australia.

Following the same structure as the 2021 World Cup in the UAE, the eight teams that exit at the Super 12 stage will receive $70,000 each, with a victory in each of the 30 games in that phase worth $40,000.

Afghanistan, Australia, Bangladesh, England, India, New Zealand, Pakistan and South Africa are have already booked their spot in the Super 12 stage.

A similar structure is in place for the first-round victories - with $40,000 available to winners of each match. The four teams that get knocked out in the first round will get $40,000 each.

The UAE are among the teams participating in the first round for a chance to qualify for the Super 12 stage. They will be vying for qualification with Namibia, the Netherlands, Sri Lanka, Ireland, Scotland, the West Indies and Zimbabwe.

The national team face Namibia, Sri Lanka and the Netherlands in their first-round group. The top two sides from that group will get the chance to play in the main event.

The Super 12 stage begins on October 22.

T20 World Cup 2022 prize money

Winners: $1.6 million

Runners-up: $800,000

Losing semi-finalists: $400,000

Super 12 wins: $40,000

Super 12 exit: $70,000

First round wins: $ 40,000

First Round exit: $40,000