Pakistan’s former Cricket captain Younis Khan poses with the 2017 ICC Champions trophy. Photo: Akhtar Soomro/Reuters

The International Cricket Council (ICC) has announced the prize money for the upcoming ICC Champions Trophy, being hosted by England and Wales from June 1 to 18, with a total of $4.5 million (R59.3 million) on offer.

The winners will receive a cheque of $2.2 million (R29 million), with $1.1 million (R14.5 million) for runner-up.

The eighth edition of the tournament sees an increase of $500,000 (R6.6 million) in prize money from the 2013 edition, which was also played at the three venues being used this time – Cardiff Wales Stadium, Edgbaston and The Oval.

The two losing semi-finalists will earn $450,000 (R5.9 million) each.

Teams finishing third in each group will take home $90,000 (R1.2 million) each, while the teams finishing last in each group will get $60,000 (R791 000) each.