In a landmark decision, the International Cricket Council announced equal prize money for the men's and women's teams in World Cup tournaments on Tuesday, September 17.
The ICC Women’s T20 World Cup 2024 will be the first ICC event where women will receive the same prize money as their male counterparts; this is a significant milestone in the sport’s history. This decision was taken during the ICC Annual Conference in July 2023, when the cricket 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 $2.34 million, a massive 134% 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% compared 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 totalling $7,958,080, a massive increase of 225% from last year’s total fund of $2.45 million. This move is in line with the ICC’s strategy to prioritise 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.
