The International Cricket Council (ICC) has announced the cash prize for the winning team of the ICC Men’s T20 World Cup 2022. The champions will be taking home a healthy cheque of $1.6 million.

From the total prize pot of $5.6 million, the runners-up will be awarded $800,000 while the losing semifinalists will receive $400,000 each at the end of the 45-match tournament to be played in Australia from October 16 to November 13.

Read More: Top 10 wicket-takers in ICC Men’s T20 World Cup history

Further, the eight teams to make their exit from the Super 12 stage will receive $70,000 each, while a win in each of the 30 matches during that phase will fetch $40,000.

Defending champions and hosts Australia, along with Afghanistan, Bangladesh, England, India, New Zealand, Pakistan and South Africa have been confirmed to begin their tournament campaign at the Super 12 stage.

Read More: Top 10 highest run-scorers in T20 World Cup history

First-round wins will also rake in $40,000 to those who win each of the 12 games – the total amounting to $480,000. Meanwhile, the four teams to exit in the first round will still receive $40,000 each.