Cricket World Cup: Black Caps' pain cushioned by big payday

New Zealand's Trent Boult, right, crosses his arms as he waits for the trophy presentation after losing the Cricket World Cup final match between England and New Zealand. Photo / AP

The Black Caps' pain of losing the most thrilling Cricket World Cup final of all time may be cushioned by a few extra dollars in their bank accounts.

The World Cup runners up recieve $3m which they plan to split 16 ways.

Under the players' centralised contract with New Zealand Cricket, all prize money from tournaments is to be shared amongst the squad.

New Zealand Cricket Players' Association chief executive Heath Mills said the money would be split 16 ways; meaning each squad member pocketed $187,500, while another portion of $187,500 would be split amongst the team's support staff.

"It is a significant payday if they go well. And they deserve it," Mills told the Herald on Saturday.

"The prize money for the event is a direct correlation to the amount of revenue that the event brings in. The World Cup is a significant revenue earner for the ICC, its members and obviously players should quite rightly share in that return . . . they are the ones out in the middle."

New Zealand's captain Kane Williamson, left, stands with his players as he waits for the trophy presentation after losing the Cricket World Cup final match between England and New Zealand. Photo / AP

Under the split, back-up wicketkeeper Tom Blundell – who didn't play a game – would earn the same amount as the likes of Williamson and No 1 gloveman Tom Latham who played all ten Black Caps games.

There is no provision in the playing contracts for performance bonuses from New Zealand Cricket on top of the prize money provided by the ICC.

Mills said players were well-versed on budgeting, with all contracted players completing personal development programmes educating them on issues such as finances.

"The reality is that it is a great earner, they do very well, but being a professional athlete is a short-term career and if you don't do smart things with your money you may be in a very bad position five or 10 years after your retirement," he said.

"I am sure they will all do sensible things [with the payouts]."