ICC increase prize money for both men and women tournaments

The total prize money of the Champions Trophy has been increased to $4.5 million (approx ₹29 crores) which is $500,000 (approx ₹3 crores) more than the previous edition of the tournament that India won.

Cricket.com.au reported that the winner of the tournament will pocket a handsome $2.2 million (approx ₹14 crores) while the runner-up will earn a little more than $1.1 million (approx ₹7 crores).

The two semi-finalists who end up on the wrong side of the result will each take home $450,000 (approx ₹3 crores). The teams who finish third in the group stage will bag $90,000 (approx ₹60 lakhs) each, while the last-placed team in the group will end up with $60,000 (₹38 lakhs)each. 

The best news of the day, however, was that the prize money for the Women's World Cup had seen a ten-fold increase. The total prize money for the 2013 edition of the World Cup was a mere $200,000 (approx ₹1.2 crores)but this time around it has been increased to a massive $2 million (₹12.8 crores).

The original prize money was set at $1 million (₹ 6 crores), as announced by the ICC in 2015, but it appears the ICC have had a change of heart and it has now been doubled.