The winners of next month’s match between Australia and India, being held at The Oval ground in London, England, are set to take home $1.6 million (£1.2 million/€1.4 million), as well as the accolade of world champions across the game’s longest format.

The runners-up in the fixture, due to be held from June 7 to 11, with June 12 as a reserve day in the event of bad weather, will earn $800,000 (£647,000/€745,000).

New Zealand were crowned the first ever world test champions after winning the final in 2021, defeating India by eight wickets.

A reserve day was required for the match, played in a bio-secure bubble at the Hampshire Bowl in Southampton, England, due to bad weather, and it enabled a positive result in front of 3,000 socially distanced spectators.

All nine teams participating in the latest World Test Championship edition, running from 2021 to 2023, will earn a share of the $3.8 million (£3 million/€3.5 million) prize purse.

South Africa finished third in the standings and have earned $450,000 (£364,000/€420,000).

England took fourth, winning $350,000 (£283,000/€326,000), with Sri Lanka finishing fifth in the standings and claiming $200,000 (£283,000/€326,000).

The remaining teams - New Zealand in sixth, Pakistan in seventh, West Indies in eighth and Bangladesh in ninth - have all earned $100,000 (£80,000/€93,000) each.