How much prize money will T20 World Cup champions receive?

ICC announce record winners' pot for showpiece event

The T20 World Cup will have a record prize fund this year. AP

The International Cricket Council have announced a record prize pool for the T20 World Cup that started last weekend.

T20 cricket has become the driving force of the game, mainly through franchise cricket, with Test cricket being championed by fewer teams each passing year and ODIs becoming almost an afterthought.

So it has come as no surprise that with billions of dollars riding on it, the T20 world champions will now stand to take home a bigger winners' cheque.

This year, the ICC have announced a record-breaking prize fund of $11.25 million.

The winners are set to receive at least $2.45m, which is significantly more than what last time's champions England received.

The runners-up are set to earn at least $1.28m, while the losing semi-finalists will take home $787,500 each.

Teams finishing lower in the table will also be rewarded, with every team also receiving an additional $31,154 for each match won, excluding the semi-finals and final.

Following the announcement, ICC chief executive Geoff Allardice said it was a significant moment in the game.

“This event is historic in so many ways, so it is fitting that the prize money for players reflects that," Allardice said in a statement. "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.”

However, the prize money on offer pales in comparison to what Argentina took home after winning the 2022 Fifa World Cup. Lionel Messi and his team earned a cool $42m for lifting the world title in Qatar, while runners-up France received $30m.

Even the Indian Premier League offers more money with fast bowler Mitchell Starc's annual contract with Kolkata Knight Riders worth almost $3m.