Why cricket’s $6.9 million Champions Trophy has returned

The revival of the ICC Champions Trophy after an eight-year absence has left many questioning its necessity—perhaps even some weary players. With the 50-over format facing a decline in popularity, why has this tournament been brought back? The simple answer: money.

The decision dates back to 2021 when the International Cricket Council (ICC) outlined its schedule of men's events for the 2024–31 cycle, aiming to secure a lucrative new media rights deal. Eyebrows were raised when the Champions Trophy was reinstated for 2025 and 2029, particularly as these are the only years in the cycle without either a 50-over or T20 World Cup. In its bid to have a marquee event every year, the ICC revived the Champions Trophy and wedged it into an already congested cricket calendar.

The move was primarily designed to enhance commercial appeal for Indian broadcasters, who are the sport's biggest financial backers. The media rights deal for 2024–27 brought in an astonishing $3 billion, with nearly 40 per cent of the revenue—controversially—allocated to India. However, the return of the Champions Trophy has raised questions about its relevance.

Defending World Cup winners Australia, along with India, are the only multiple-time winners of the tournament. Yet, Australia will enter the upcoming edition with a depleted squad, as several key players nurse injuries, opting to rest instead. Veteran all-rounder Marcus Stoinis also recently announced his sudden retirement, perhaps an indication of where the Champions Trophy ranks in players' priorities.

Despite its grandiose name—akin to prestigious events in football—the Champions Trophy has never been a major spectacle in world cricket, though it had its moments in a different era. Introduced in 1998, when the One Day International (ODI) format was in its prime, the tournament was initially conceived to generate funds for developing cricket nations outside the ICC's Full Membership, who traditionally receive the lion's share of funding.

Originally held biennially, the tournament's frequency declined following the launch of the Indian Premier League (IPL) in 2008, which transformed cricket's landscape as T20 leagues began to dominate the calendar. As the 50-over format became increasingly marginalised, even the nostalgia and commercial draw of the World Cup could not sustain its prominence.

The Champions Trophy became more sporadic, with its apparent swansong taking place in 2017 when Pakistan memorably thrashed arch-rivals India at The Oval in London. After that, the tournament was scrapped—seemingly for good—until the ICC found itself in need of an additional global event beyond the World Cup.

The upcoming edition will be hosted in Pakistan, although India's refusal to travel to its neighbour means some matches will also be played in the UAE. Financial incentives are expected to help dispel any lingering indifference among players.

The tournament offers a substantial prize pool, with the winners set to receive $2.24 million and the runners-up $1.12 million. The total prize fund of $6.9 million represents a 53 per cent increase from 2017.

"The ICC Men's Champions Trophy 2025 represents a pivotal moment for cricket, reviving a tournament that highlights the pinnacle of ODI talent, where every match is critical," said ICC chair Jay Shah, the all-powerful Indian administrator helming his first major event.

"The substantial prize pot underscores the ICC's ongoing commitment to investing in the sport and maintaining the global prestige of our events.

"Beyond the financial incentive, this tournament ignites fierce competition, captivates fans worldwide, and plays a vital role in fostering the growth and long-term sustainability of cricket for future generations."

However, outside of South Asia—where anything cricket-related is passionately followed—the tournament is unlikely to generate much interest and is destined to be largely forgotten, much like its predecessors. Many will probably have to rely on AI to recall past winners.

At the very least, the Champions Trophy won't be stretched out endlessly like the World Cup. The final is set for 9 March, though this brevity is more a necessity than a design choice, given that the new IPL season is set to follow immediately.

"Champions Trophy is a completely different challenge as compared to the 50-over World Cup because literally every game is a make-or-break, so you can't stop anywhere in this tournament," said India coach Gautam Gambhir.