Champions Trophy: ICC just gave a solid motivation to all teams for winning the tournament

The International Cricket Council has hiked the prize money for this year's Champions Trophy by $500,000, making it $4.5 million with a winner's share of $2.2 million.

"The upcoming ICC Champions Trophy in England and Wales from 1-18 June carries a total prize money of $4.5 million with the winner of the eight-team tournament taking home a cheque of $2.2 million," the ICC announced.

The eighth edition of the tournament sees an increase of $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 $1.1 million, while the other two semifinalists will earn $450,000 each. Teams finishing third in each group will take home $90,000 each, while the teams finishing last in each group will get $60,000 each.