The ICC had already announced a cash prize of USD 2.45 million for the winners of the T20 World Cup. In addition to this, the BCCI will be awarding the winning India squad a bonus of INR 125 crore (USD 15 million approx.). The announcement was made by Board secretary Jay Shah a day after India won the final against South Africa by seven runs in Barbados.
Shah praised the team for their exceptional talent, determination, and sportsmanship throughout the tournament. He congratulated all the players, coaches, and support staff for their outstanding achievement. The ICC had also announced additional cash prizes for each match won by teams, excluding the semi-finals and finals.
The total prize money for the tournament more than doubled from USD 5.6 million in 2022 to USD 11.25 million in 2024, ensuring an increase in awards for all 20 participating teams. South Africa, as runners-up, won USD 1.28 million, while the losing semi-finalists Afghanistan and England received USD 787,500 each. Players and teams were set to receive more prize/participation money from the tournament than ever before.
Overall, the T20 World Cup provided a lucrative opportunity for teams, players, and support staff to earn substantial rewards for their efforts and performances. The increase in prize money highlighted the growing importance and popularity of T20 cricket on the global stage.