INDIA’S cricket board will reward the Twenty20 World Cup winning team with 1,250 million rupees (almost US$15 million) in prize money.

“I am pleased to announce prize money of INR 125 crores for Team India for winning the ICC Men’s T20 World Cup 2024. The team has showcased exceptional talent, determination, and sportsmanship throughout the tournament,“ Board of Control for Cricket in India (BCCI) secretary Jay Shah said on Sunday.

India lifted the trophy after defeating South Africa in the thrilling final match held on Saturday in the Caribbean nation of Barbados.

The country of 1.4 billion people erupted in wild celebrations following the win, which ended India’s 11-year wait for an international cricket title.

Twenty teams split into four groups participated in the tournament, hosted jointly by the United States and the West Indies between June 1 and 29.

The governing body International Cricket Council (ICC) announced US$11.25 million in prizes for this year’s tournament.

India as the cup winner earned US$2.45 million, while South Africa as the runners-up received US$1.28 million.

Three senior Indian players, Virat Kohli, Rohit Sharma and Ravindra Jadeja, have announced their retirement from T20 internationals, the shortest format of cricket, stepping down on a high to give the next generation of players an opportunity to play in the T20 team.