Sports: The International Cricket Council (ICC) has made a historic decision of equalling the prize money for the men's and women's World Cups, starting with the upcoming Women's T20 World Cup 2024. The International body has significantly raised the prize money for next month's women's T20 World Cup 2024. 

ICC has raised the total prize money of the tournament by 225%, taking it to a whopping amount of $7,958,000 (INR 66,64 Cr). The winners' prize money has also been increased by 134% from USD 1 million (INR 83795000) to $2,340,000 (INR 19,60 Cr). Notably, the Indian men's team got USD 2.45 million (INR 20,52 Cr) after winning the T20 World Cup 2024 in the USA and West Indies.

"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, marking a significant milestone in the sport's history," the International cricket body said.

"The decision was taken at the ICC Annual Conference in July 2023, when the ICC 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," it added.

Notably, the prize money of the semifinalists and group stage match winners has also been hiked. The two losing semi-finalists will earn USD 675, 000 (5,65 Cr) which is 221% up from USD 210 000 in 2023. Teams winning the group stage matches will see them take home USD 31,154, while the teams who could not make it to the semifinals will share USD 1.35 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 added.