The International Cricket Council (ICC) on Sunday announced the details of the prize money for the men's T20 World Cup scheduled to be held at Oman and the UAE from October 17. The winning team will receive a reward of $1.6 million (Rs 12 crore approximately) while the runners-up while take away $800,000 (Rs 6 crore approximately).

"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 US $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. 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 ICC mentioned in its release.

"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 statement further added. The teams confirmed to be competing in the Super 12 stage are Afghanistan, Australia, England, India, New Zealand, Pakistan, South Africa, and the West Indies while the eight teams participating in Round 1 are Bangladesh, Ireland, Namibia, Netherlands, Oman, Papua New Guinea, Scotland and Sri Lanka.