ICC introduces equal prize money for men’s and women’s cricket World Cups

The International Cricket Council (ICC) has announced that men’s and women’s cricket teams will receive equal prize money in all World Cup events, starting with the 2024 Women’s T20 World Cup. Set to take place next month in the UAE, this tournament will make cricket the first major team sport to offer equal prize money across genders.

Number Game

• Prize money for the 2024 Women’s T20 World Cup has notably increased. The winning team will now earn $2.34 million, a sharp 134% rise from the $1 million Australia received in 2023.
• Runners-up will walk away with $1.17 million, more than double the $500,000 awarded last year. 
• As compared to the Men’s T20 World Cup, in which India won recently, India received $2.45 million in cash prize.

How will this move be crucial?

• This move is in line with the ICC’s strategy to prioritize 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 decision ensures that the ICC reached its prize money equity target seven years ahead of its schedule for 2030.

Previous Instances

• BCCI (Board of Control for Cricket in India) announced in 2022 to equal pay for all centrally contracted men and women Team India cricketers.
• Also New zealand Cricket Board, Cricket South Africa and England Cricket also equal the salary for the Men and Women.