BCCI Reveals Prize Money of INR 125 Crore Award For T20 World Cup 2024 Champions

BCCI

The Indian cricket team lifted the ICC T20 World Cup 2024 trophy by defeating South Africa with a 7-run thrilling victory and claimed the prize money of INR 20.41 crores. Additionally, the BCCI (Board of Control for Cricket in India) announced prize money of INR 125 crores to Rohit Sharma’s led side for securing their 2nd T20 World Cup title win.

The Key contributions from Virat Kohli and Axar Patel in the batting department as well as Arshdeep Singh, Jasprit Bumrah, and Hardik Pandya played a crucial role as a pace bowler in the death overs. These star performers steered India to a nail-biting win. Also, this was Team India’s most wanted victory to end their 11-year drought period of lifting an ICC trophy. 

Furthermore, the men-in-blue became the first team to win a T20 World Cup trophy on an unbeaten note.

BCCI Secretary Announces INR 125 Crores Prize Money

In the middle of the T20 World Cup 2024 celebrations, Jay Shah — the BCCI secretary, announced a lucrative cash prize money for the Indian cricket team by sharing on X handle (previously known as Twitter):

“It’s a proud moment! I feel overjoyed to announce the prize money of INR 125 crores for Team India for achieving a long-awaited victory in the ICC Men’s T20 World Cup 2024. The entire team has exhibited remarkable talent, determination, and competitiveness throughout the tournament. I congratulate all the players, coaches, and support staff for this incredible achievement”, said Jay Shah.

T20 World Cup 2024 Winner: Prize Money and Distribution among Team Members

According to the latest reports, the prize money of INR 125 crores will be distributed among the 15-member squad, four reserve players, and 15-member support staff.

It is expected that each Indian player in the squad receives upto INR 5 Crores, whereas the reserve players and other support staff members would receive a minimum of INR 1 Crore each. As a result, the prize money distribution guarantees honoring both the on-field and off-field players as well as the off-field support staff for India’s success in the entire tournament.

Indian team head coach Rahul Dravid’s led support staff group consists of these three main coaches involved in the batting, bowling, and fielding departments:

  • Batting Coach: Vikram Rathour
  • Bowling Coach: Paras Mhambrey
  • Fielding Coach: T Dilip

If we compare the prize money with the previous rewards, the sum of INR 125 crores exceeds the USD 2.45 million (which is approximately equal to INR 20.37 Crores) received by the entire team for winning the World Cup.

Former Indian skipper Dilip Vengsarkar recalled Team India’s prize money after winning the 1983 World Cup. At that time each player received upto INR 25,000, and the ex-cricketer highlights the financial evolution in cricket prize money rewards over the years.

ICC Prize Money for T20 World Cup 2024 Teams: Knockout Stages

Earlier, the ICC (International Cricket Council)  announced a cash prize of USD 2.45 million for the T20 World Cup 2024 winners and an additional amount of $31,154 for each match won by every team, excluding the crucial stages of the tournament (semi-finals and finals). Moreover, the cash prize awarded by the ICC for this edition of the T20 World Cup has been the highest ever and the amount was increased by USD 850,000 compared to the previous edition in 2022 (1.6 million USD).

South Africa concluded as the runner-up and won USD 1.28 million, whereas the semi-finalist teams like Afghanistan and England received USD 787,500 (the amount for teams that reached the semi-finals was USD 400,000 in 2022).

Conclusion:

A few months back there was a situation where players faced severe criticism for prioritizing to participate in the Indian Premier League (IPL) over national commitments. However, a large amount of prize money offered to the T20 World Cup winning team sends a clear signal.

According to BCCI, the prize money of INR 125 crores (USD 16.5 million approximately), helps to motivate players. It was a straightforward message to all the players that if they focus on winning the ICC trophies for India, they can earn a huge amount of money, similar to what they might earn in every season of IPL.

As every team will be receiving an extra amount of $31,154 (INR 26 lakhs approximately) for winning each match, Team India’s prize money awarded by ICC would add up to INR 22.63 crores when combined these amounts.

Finally, when you add the prize money offered by BCCI, the Indian cricket team will get hefty prize money of INR 147.63 crores approximately.