ICC boosts prize money for Champions Trophy by 53 percent

Prize money for the eight-nation Champions Trophy starting in Pakistan next week has been increased by 53 percent, the International Cricket Council (ICC) said Friday.

Besides an impressive trophy, the winning side will earn a whopping $2.24 million, an ICC statement said, while the runners-up will receive $1.12 million.

"The total prize pool has increased by an impressive 53 percent from the 2017 edition, reaching $6.9 million," the ICC said.

"The substantial prize pot underscores the ICC's ongoing commitment to investing in the sport and maintaining the global prestige of our events."

Each losing semi-finalist will take home $560,000, teams finishing in fifth or sixth place will receive $350,000, and the seventh and eighth-placed sides take home $140,000.

Last place is worth $125,000 -- and a win in the group stages is worth around $34,000

The February 19 to March 9 tournament marks the first time Pakistan hosts an ICC event in three decades, although some matches will be played in the United Arab Emirates as India is refusing to play on its neighbor's soil.