ICC announces equal prize money for men and women in World Cups

Dubai: The International Cricket Council on Tuesday announced equal prize money for men and women in World Cups, starting with the women's T20 showpiece in the UAE next month.

The winners of the Women's T20 World Cup will be rewarded with $2.34 million, a 134 per cent increase on the $1 million awarded to Australian women when they clinched the title in South Africa in 2023, said the ICC in a statement.

India, who won the men's T20 World Cup earlier this year, received $2.45 million in cash prize.

"The ICC Women's T20 World Cup 2024 will be the first ICC event where women will receive the same prize money as their male counterparts, marking a significant milestone in the sport's history," said the ICC.

"The decision was taken at the ICC Annual Conference in July 2023, when the ICC Board took the step of reaching its prize money equity target seven years ahead of its schedule of 2030, making cricket the only major team sport to have equal prize money for its men's and women's World Cup events." The runners-up at the showpiece event next month will get $1.17 million, an increase of 134 per cent in comparison to the $500,000 South Africa received for reaching the final on home soil at Newlands Cricket Ground.

The two losing semi-finalists will earn $675, 000 (up from $210 000 in 2023), with the overall prize pot totalling $7,958,080, a massive increase of 225 per cent from last year’s total fund of $2.45 million.

Each win during the group stages will see teams take home $31,154, while the six teams who fail to reach the semi-finals will share a pool of $1.35 million depending on their finishing positions.

In comparison, the equivalent pool for the six teams in 2023 was $180,000, shared equally. Teams who finish third or fourth in their group will take $270,000 each while the teams who finish fifth in their group will both receive $135,000.

"This move is in line with the ICC’s strategy to prioritise the women’s game and accelerate its growth by 2032. Teams will now receive equal prize money for the equivalent finishing position at comparable events as well as the same amount for winning a match at those events," the ICC added.