St John's, Antigua:

The winners of the Caribbean T20 Tournament 2012 will take home the US$62,500 as the West Indies Cricket Board announced the prize fund for this year's event yesterday.

The champions will pocket the handsome sum and also take home the glittering CT20 trophy. Overall, close to US$125,000 will be up for grabs during what promises to be two weeks of exciting cricket. The tournament bowls off on Monday and will end with the Grand Final on Sunday, January 22.

big incentives

The first phase will be played at the picturesque Sir Vivian Richards Cricket Grounds in Antigua before moving to Barbados for the second phase at the historic Kensington Oval. The other big incentives for the top placed Caribbean team is the opportunity to play in the Champions League later this year in India.

The second-placed team will collect US$25,000. There are also incentives for the losing semi-finalists. The third-placed team will get US$12,500 and the fourth-placed side will pocket US$10,000. The Star-of-the-Match in each match will get US$500 as well as a custom-designed plaque.