Ahead of the 2023 ODI World Cup, ICC announces MAJOR change in prize money

ICC announced prize money parity for ICC events.

Australia (Women's), England (Men's) celebrate ODI and T20 World Cup victories (Images via ICC Cricket, Al Jazeera)

In what comes as a massive development ahead of the 2023 ODI World Cup, the International Cricket Council (ICC) announced a major change in prize money for ICC events on Thursday (13 July). The global cricket governing body announced prize money parity among men’s and women’s teams at ICC events.

This means that the winners and runners-up of ICC events- ODI World Cup and T20 World Cup will get equal prize money irrespective of their category. Not just the winners and runners-up, but participating teams- both men’s and women’s teams will get the same amount for winning a match at those events.

The key decision was taken during ICC Annual Conference held in Durban, South Africa. ICC Chairman Greg Barclay rejoiced the big moment calling it a “significant moment in the history of the sport”. Meanwhile, BCCI Secretary Jay Shah took to Twitter to announce this news.

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I am thrilled to announce that a major step towards gender parity & inclusivity has been undertaken. The prize money at all @ICC events will be same for men & women. Together we grow.…
— Jay Shah (@JayShah) July 13, 2023

“This is a significant moment in the history of our sport and I am delighted that men’s and women’s cricketers competing at ICC global events will now be rewarded equally,” ICC Chairman Greg Barclay said (via ICC).

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What were the other key decisions taken at ICC Annual Conference?

Apart from prize money parity, the ICC also announced a “substantial increase in funding” for all its members. The global governing body said that the increase in capital influx due to huge media rights deals and commercial programmes will allow ICC to increase the funding to its members. The associate member nations are expected to benefit from this new announcement.

“All Members will receive a base distribution and then additional revenue will be in relation to contribution to the global game both on and off the field. This is by far the largest level of investment ever to go into cricket and it’s a once-in-a-generation opportunity for our Members to accelerate growth and engage more players and fans and drive competitiveness,” said ICC Chairman.

ICC announces change in over-rate sanctions in Test cricket

Meanwhile, the global governing body also announced a change in over-rate sanctions in Test cricket. ICC will now fine players equivalent to 5% of their match fee for every over that falls short, with a maximum penalty capped at 50%.

However, there will be no over-rate penalty even if there is a delay if a team gets bowled out within 80 overs and the second new ball is not yet due. The new rule will be effective from the new World Test Championship cycle.