Overall, a sum of $5.6 million will be allocated for the tournament which will be shared by all the 16 participating teams
The winners of the 2021 ICC Men's T20 World Cup will be awarded prize money of $1.6 million while the runners-up will take home $800,000.
The two losing semi-finalists will be rewarded a prize money of $400,000 each.
Overall, a sum of $5.6 million will be allocated for the tournament which will be shared by all the 16 participating teams.
The ICC will also continue to award a bonus amount for every win during the Super 12 stage of the tournament, as was the case during the 2016 edition of the tournament. The victors during all the 30 matches during the Super 12 stage will take home an amount of $40,000 — amounting to a total pot of $1,200,000.
The teams which get knocked out in the Super 12 stage will be awarded $70,000 each, amounting to a total sum of $560,000.
The same set-up is in place to reward teams during their Round 1 victories, where again, they will be rewarded $40,000 during the 12 matches during the stage, totalling $480,000. The four teams which get knocked out during round one will get $40,000 each from an overall prize pool of $160,000.
The eight teams participating in Round 1 will are Bangladesh, Ireland, Namibia, Netherlands, Oman, Papua New Guinea, Scotland and Sri Lanka. Meanwhile, Afghanistan, Australia, England, India, New Zealand, Pakistan, South Africa and West Indies are the eight confirmed teams for the Super 12 stage of the tournament in the UAE and Oman.
Apart from the prize money for the 2021 edition of the tournament, the ICC also announced a drinks break which will take place during each and every match. The duration of the break will of 2 minutes and 30 seconds and will take place during the halfway mark of each innings.
The mega event will take place between October 17 and November 14 in UAE and Oman.