The ICC will award the same prize money to men's and women's champions and runners-up teams at the global ICC events. Teams will now receive equal prize money for the equal finishing position at comparable events and the same amount for winning a match at those events. Durban hosted the ICC annual conference, in which they took the decision. ICC also confirmed that from the next cycle, every ICC member will receive significantly enhanced funding with a strategic investment fund ring-fenced to drive global growth initiatives in line with the ICC Global Growth Strategy.
"This is a significant moment in the history of our sport. I am really happy that men's and women's cricketers competing at ICC global events will now receive the prize money equally. Since 2017 we have increased prize money at women's events every year with a clear focus on reaching equal prize money. So, from here on in, winning the ICC Women's Cricket World Cup will carry the same prize money as winning the ICC Men's Cricket World Cup and the same for T20 World Cups and U19s too," ICC Chair Greg Barclay said in a statement released by ICC. "Cricket is genuinely a sport for all and this decision from the ICC Board reinforces that and enables us to celebrate and value every single player's contribution to the game equally," he added.
The Chief Executives' Committee has also approved the changes to Test Cricket's over-rate fines. The new rules will take effect at the start of the current World Test Championship cycle. The players will have to pay 5 percent of their match fee for each over that falls short. The maximum penalty will be 50 percent. Also if a side is bowled out before reaching the 80-over mark and the new ball has not yet been delivered, no over-rate penalty will be enforced, regardless of any prospective delays. This amendment replaces the previous requirement of 60 overs.