Dubai: The International Cricket Council (ICC) hiked the prize money for this year's Champions Trophy by USD 500,000, making it USD 4.5 million with a winner's share of USD 2.2 million.

"The upcoming ICC Champions Trophy in England and Wales from 1-18 June carries a total prize money of USD 4.5 million with the winner of the eight-team tournament taking home a cheque of USD 2.2 million," the ICC announced. The eighth edition of the tournament sees an increase of USD 500,000 in prize money from the 2013 edition, which too was played at the three venues being used this time - Cardiff Wales Stadium, Edgbaston and The Oval.

The runner-up of the tournament will get a cheque of USD 1.1 million, while the other two semifinalists will earn USD 450,000 each. Teams finishing third in each group will take home USD 90,000 each, while the teams finishing last in each group will get USD 60,000 each.