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India and New Zealand will battle for a £1.135m prize when they meet in the inaugural World Test Championship at the Ageas Bowl next week

India or New Zealand will pick up £1.135million for winning the World Test Championship while England have been awarded £250,000 for finishing fourth.

Test cricket’s inaugural champions will be crowned next week, with the losers in the showpiece match in Southampton - to be contested in front of 4,000 crowds daily from Friday - taking home £567,000.

If the match is drawn, the two finalists will share the Test mace and split the prize money for first and second places equally.

New Zealand thrashed England at Edgbaston ahead of the World Test Championship showdown against India in Southampton

Kane Williamson’s New Zealand - who claimed series victory over England in his absence via a crushing win at Edgbaston last weekend - take on Virat Kohl’s number one-ranked Indian team following two years of qualification.