The International Cricket Council (ICC) has announced the prize money for the upcoming men's T20 World Cup, scheduled to start October 16.
The title winners this season will take home a whopping US$1.6 million while the runners up will win half the amount of the title winners' prize, which is $800,000, a statement issued by the ICC said
"The ICC announced that the winning side at the ICC Men's T20 World Cup 2022 in Melbourne on November 13 would receive prize money of $1.6 million, with the runners-up guaranteed half the amount."
At the end of the 16-team tournament that runs for nearly a month, the losing semi-finalists will each get $400,000 from the $5.6 million total prize pool.
The eight teams who exit at the Super 12 stage will receive $70,000 each.
Like last year at the ICC Men's T20 World Cup 2021, a win in each of the 30 games in the Super 12 phase will be worth $40,000.
The eight teams that made it directly to the Super 12 phase are Afghanistan, Australia, Bangladesh, England, India, New Zealand, Pakistan and South Africa.
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The other eight teams — Namibia, Sri Lanka, Netherlands, UAE in Group A and West Indies, Scotland, Ireland and Zimbabwe in Group B — are split into two groups of four and will play the first round.
The prize money of $40,000 will be awarded to each winner in the first round, with the 12 matches amounting to $480,000.
Meanwhile, the four teams knocked out in the first round will get $40,000 each.