The ICC T20 World cup is a very important part of the world of cricket. It is the way to show the finest talent in the very short format of the game. It also offers great honour in terms of prize money. It has been started since 2007 by the International Cricket Council (ICC), the global governing body for cricket. The opening match of the t20 world cup was held in South Africa in 2007. It was introduced as a new format of international cricket. It is the shortest form of cricket game which almost ends up between maximum 3 hours.
When in 2007 t20 match was held in South Africa they announced t20 world cup prize money USD 2 million as the winning prize. The huge amount of prize was the evidence of the strong decision by ICC to introduce t20 cricket on international Level as well as for the best performance of all the cricket teams. The prize money stood very beneficial for the winners. And it also developed the craze to become t20 world cup champions.
The T20 World cup tournament gets a huge attention from fans, sponsors and broadcasters. After this I saw the noticeable edition in the winning prize money.
| ear | Host Country | Total Prize Money (USD) | Winner Prize (USD) |
| 2007 | South Africa | $2.2 million | $1 million |
| 2009 | England | $4 million | $2 million |
| 2010 | West Indies | $9.5 million | $4.3 million |
| 2012 | Sri Lanka | $6 million | $1.2 million |
| 2014 | Bangladesh | $3 million | $1.1 million |
| 2016 | India | $5.6 million | $3 million |
| 2020 | Australia | $5 million | $1.6 million |
| 2024 | TBD | TBD | TBD |
When the t20 world cup was held in England in 2009, the winning team was rewarded with USD 3.2 millions. It was the huge increment in the T20 World cup prize money. Than again in 2010 the prize for winners were USD 3.8 million. In 2012 and 2014 the t20 world cup prize money was 3.2 million dollars.
Read More: ICC Men’s T20 World Cup Schedule
In the year of 2016, the T20 World cup was held in India. This year proved to be a significant milestone for the T20 World cup. It was one of the biggest cricket markets. Winning prizes also increased noticeably. It reached almost USD 5.6 million. It was reflecting the immense popularity of T20 cricket in the country and the growing commercial value of the event.
This increased value makes teams ambitious to become the champions, and to get the highest reward.
The T20 World cup faced a lot of crises in 2020, due to the global COVID-19 pandemic. ICC T20 World cup was postponed till 2021.
The T20 World cup prize money remained unchanged from the previous edition, with the winning team once again receiving USD 5.6 million. This decision emphasises the ICC commitment to maintain the honesty and values of the tournament despite the prevailing circumstances.
Looking towards the next t20 world cup that will be held in Australia, there is anticipation for further growth in prize money. To improve the tournament’s commercial efficiency and global appeal different methods are being explored by the International Cricket Council which may result in a boost in the cash awarded to the winner’s team. With T20 cricket becoming more and more known and cricket becoming more popular in new markets. The T20 World cup is going to remain as a major event on the international cricket calendar.
From the small 2 million Prize money in 2007 to the scheduled increase for the 2024 edition. The t20 world cup continues to provide teams participating at the highest level with significant benefits.