ISLAMABAD: The ICC Women’s T20 World Cup 2024 winning team will receive $2.34 million, the same amount as of their male counterpart, which is billed as achieving a major milestone in sports history.
The decision to introduce equal prize money for men and women in ICC events 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 winners of the tournament, which will now be staged in the United Arab Emirates (UAE), will receive US$2.34million, a massive, 134 per cent increase on the $1 million awarded to Australia when they clinched the title in South Africa in 2023.
The runners-up will receive $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 totaling $7,958,080, a massive increase of 225 per cent from last year’s total fund of $2.45 million.
This move is in line with the ICC’s strategy to priorities 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 Men’s T20 World Cup 2024 event prize money is only higher on account of 10 additional teams participating and 32 more matches played.
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.