By Nick Butler

The ITU has announced increased prize money for the next year ©ITUMarch 25 - Prize money amounting to a total of $2.2 million (£1.3 million/€1.6 million) has been revealed by the International Triathlon Union (ITU) for the World Triathlon Series and World Cup events this year.

The bonus pool for the World Triathlon Series has risen by $177,000 (£107,000/€129,000) and, with a huge percentage of the final amount allocated to the top 35 men and women, the series remains one of the richest triathlon circuits in the world.

For the World Cup, meanwhile, the prize money will be unchanged this year, although competitors will still be enjoying the benefits of a boost of nearly $300,000 (£181,000/€218,000) introduced last season.

At the Grand Final in Edmonton there will be a total prize pot of $280,000 (£169,000/€204,000) with the the overall world champions in both the men's and women's races each being awarded $40,000 (£24,000/€29,000).

A travel subsidy will also be offered to National Federations to cover athletes competing in both the Stockholm and Edmonton legs.

The prize money increase applies for World Cup and world series events for 2014 ©Getty ImagesThe prize money increase applies for World Cup and world series events for 2014
©Getty Images

"We increased the bonus money to reflect the new structure that requires athletes to compete in five World Triathlon Series races en route to becoming the World Champion", said ITU President Marisol Casado.

"Athletes will now be more rewarded for competing across the series as a whole."

The 2014 ITU World Triathlon Series is due to open early next month in Auckland and will then feature eight cities across all five continents, with events to be held in Cape Town and Chicago for the first time.

The series is scheduled to conclude with a week-long Grand Final to be held in Edmonton beginning on August 26.

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