ICC announces Women's T20 World Cup as inception of Equal Prize Money in Competitions

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The International Cricket Council (ICC) has announced equal prize money for men's and women's tournaments, in a groundbreaking announcement on Tuesday (September 17).

The ICC Women's T20 World Cup 2024 will be a landmark event, as it will be the first time women receive the same prize money as men in an ICC competition.

This decision was made at the ICC Annual Conference in July 2023, achieving the prize money equity target seven years ahead of schedule. Cricket now stands out as the only major team sport offering equal prize money for both genders in World Cup events.

The tournament's winners will earn $2.34 million, a significant increase from the $1 million awarded to Australia in 2023. The runners-up will receive $1.17 million, which is more than double what South Africa received for reaching the final on home soil. The two semi-finalists who do not advance will each take home $675,000, marking a substantial rise from last year's figures.

Prize Money Distribution

The total prize pool for this event is set at $7,958,080, representing a 225% increase from last year's fund of $2.45 million. This aligns with the ICC's strategy to prioritise women's cricket and boost its growth by 2032. Teams will now receive equal prize money for equivalent positions at comparable events and for winning matches during these events.

During the group stages, each victory will earn teams $31,154. Teams that do not reach the semi-finals will share a pool of $1.35 million based on their finishing positions. In contrast, last year's equivalent pool was only $180,000 shared equally among six teams.

Group Stage Earnings

Teams finishing third or fourth in their group will receive $270,000 each, while those finishing fifth will get $135,000 each. All participating teams are guaranteed a minimum of $112,500 regardless of their performance in the tournament.

This increase in prize money coincides with a similar boost for the ICC Women's Cricket World Cup 2022, where the total prize pot rose to $3.5 million. The ICC Men's T20 World Cup 2024 has higher prize money due to more teams and matches involved.