India, Feb. 14 -- The winner of the Champions Trophy title, which will be hosted by Pakistan and the UAE, will bag US$2.24 million and the trophy, the International Cricket Council announced on Friday.

The ICC event is returning to the sports calendar after eight years.

The last edition of the 50-over tournament was held in 2017 when hosts Pakistan had won it beating India.

The runners-up will receive $1.12 million, while the losing semi-finalists walk away with $560,000 each, from the total prize pot of $6.9 million, a 53% increase from the 2017 edition.

The eight-team cricket event will begin on February 19.

India will play all its matches in Dubai, a neutral Gulf venue, since it refused to travel to the neighbouring nation.

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