The International Cricket Council (ICC) on 10 November 2014 announced to raise World Cup prize money by 20 percent. The increase will be implemented from the 2015 World Cup in Australia and New Zealand.
The decision was taken at a two-day ICC Board meeting in Dubai.
The winners will take home 4.3 million US dollar but if a team remains unbeaten that would rise to more than 4.6 million US dollar.
The new norms provides that a total of 11.5 million US dollar will be available.
The team which loses the final at Melbourne will pocket 2 million US dollar while the two losing semi-finalists will each get 692000 US dollar.
The four losing quarter-finalists will receive 346000 US dollar each while the winners of each group match will get 52000 US dollar.
All six teams eliminated from the first stage will get 40000 US dollar apiece.
Playing conditions were also finalised for the World Cup which will be held from 14 February 2015 to 29 March 2015.
The ICC also announced that the Decision Review System (DRS) would be used in all 49 matches and that there would only be reserve days in the knock-out phase.
It also added that there would be no super over in tied matches in the knock-out phase.
In case of a tied quarter-final and semi-final, the side finishing in the higher position in the group stage would progress.
If the final is tied or if the match is a no-result, then the teams will be declared joint winners.
The ICC Board approved cut-off dates for qualification to the 2017 Champions Trophy and the 2019 World Cup.
DISCLAIMER: JPL and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.
Eight-foot bronze statue of World War II Indian pilot Mohinder Singh Pujji unveiled in UK
PV Sindhu won 2014 Macau Open Grand Prix Gold Badminton Title
CERN scientists discovered two subatomic particles belonging to the family of baryon
Book titled Letters for a Nation written by Jawaharlal Nehru & Madhav Khosla