The ICC today announced that the winners of the 2022 T20 World Cup in Australia will take home a prize money of US $1.6 million, the same amount as the last year’s edition, the ICC.

Similarly, the runners-up will collect $800,000 and the two losing semi-finalists $400,000 each.

The 16-team tournament, starting October 16, will be played in two rounds.

The eight teams – Namibia, Sri Lanka, Netherlands, UAE in Group A and West Indies, Scotland, Ireland and Zimbabwe in Group B – will play the first round. For any win in this round, a team will receive a prize money of $40,000.

Four teams – the top two from each group – will qualify for the Super 12 round. They will join Afghanistan, Australia, Bangladesh, England, India, New Zealand, Pakistan and South Africa there. The ones who get knocked out in the first round will get $40,000 each.

In the Super 12 phase too, each win will fetch a team $40,000. The eight teams who exit at the Super 12 stage will receive $70,000 each, just like the 2021 edition.

The total prize money for the tournament is $5.6 million.