West Indies news January 11, 2011

Higher prize money in Caribbean T20

ESPNcricinfo staff

The WICB has increased the prize money for the Caribbean T20 tournament to US$62,500 for the winning team, a raise of US$37,500 from what reigning champions Guyana took home last year. The total prize money for the event is US$125,000, more than double the amount in the tournament's inaugural edition.

The decision comes amid criticism from the West Indies Players' Association (WIPA), the players' representative body in the Caribbean, of overspending by the board for the competition which includes two county teams, Hampshire and Somerset. The board has defended its spending on investment, claiming it has taken the rights steps to ensure a long-term return.

"An increase from 8 to 10 teams and 16 to 24 matches from the CT20 2010 necessarily increase match operating and logistics costs, accommodation and travel expenses and television production costs," the board had said. "Caribbean T20 is not yet a profit-making venture and is still in the investment phase. WICB has put the necessary plans in place to ensure that the tournament shows a long term return on investment."

The Caribbean T20 got underway on January 10 in Antigua.