The International Cricket Council (ICC) on Monday (June 3) announced a record-breaking prize fund of 11.25 million USD for the Men’s T20 World Cup 2024, with the winners set to receive the highest amount in the tournament's history worth at least $2.45 million.

This marquee event will witness as many as 20 teams competing over 28 days across nine venues in the West Indies and USA.

The runners-up will take home at least $1.28 million, while the losing semi-finalists will earn $787,500 each. Teams that do not go past the second round will bag $382,500 each, and those finishing between ninth and 12th place will get $247,500 each.

Teams ranking from 13th to 20th place will earn $225,000 each. Moreover, every team will receive an extra $31,154 for each match won, barring the semi-finals and finals.

The tournament, which got underway on June 1, will see 40 matches being played in the group stage, leading to the Super 8s, followed by the semi-finals in Trinidad and Tobago and Guyana. The title clash match will take place at the Kensington Oval in Barbados on June 29.

“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,” ICC Chief Executive Geoff Allardice said in a statement.