The Pakistan Cricket Board (PCB) and the team have become richer by earning more than 9 million U.S. dollars from the World Cup recently concluded in Sri Lanka, Bangladesh and India.

The Pakistani cricket team earned more than 1 million dollars due to their stupendous show in the tournament, where they lost the semifinal to the eventual champion India, a PCB source told Xinhua on Wednesday.

The World Cup also promises a financial boost for the board, which lost the hosting right in 2009, shortly after militants attacked the Sri Lankan cricket team in Pakistan's eastern border city of Lahore.

According to reports, the Pakistani team scooped up net prize money of 1 million and fifty thousand dollars.

The prize money includes reward for Pakistan's five wins in the group matches for each of which they won 60,000 dollars plus 750,000 for reaching the semifinal of the tournament. Pakistan won six of their eight matches, including those against Australia and runners-up Sri Lanka in the competition.

According to the regulations, the International Cricket Council (ICC) will pay the prize money directly to the PCB, which will distribute it among the players and officials.

The Pakistani players can also expect cash bonus prizes for reaching the semifinal from the Pakistan Board. Punjab chief minister Shahbaz Sharif has already announced half-a-million rupees each to every player of the team for their good performances.

A source in the Pakistani team said that players had decided to share their prize money with the management and support staff.

The PCB will also be richer by around 8 million dollars, which was assured to them for being the co-hosts.

However, Pakistan did not host any match due to security concerns by the International Cricket Council (ICC) while another undisclosed amount is also due to the PCB as their share of the revenues from ticket sales, advertising revenues and hospitality boxes from the 14 matches.

"The money from the World Cup will definitely improve our financial health as we have already lost out on a lot of estimated revenue due to India's refusal to tour Pakistan in early 2009 for a bilateral series. We have also been forced to play our last few home series abroad at neutral venues," a board official said.