England Cricket Board (ECB) has announced that the men's and women's winners in the inaugural season of the 'Hundred' will be receiving equal prize money.
The ECB has revealed that the total prize fund of USD 7,69,000 will be divided 50/50 between both men's and women's teams.
"We're really proud of our movement towards making cricket a gender-balanced sport and whilst we're aware there is more to do in this space, this is an important step in the right direction. It's recognition for the women's players and the huge value they bring to The Hundred," Beth Barrett-Wild, head of The Hundred women's competition said in an official statement.
Heather Knight, who will be leading the London Spirit in the Hundred said that this announcement comes as great news for the women's sport across the globe.
"This is a great announcement for women's sport. Women's professional cricket is on an exciting journey and whilst, there is still a way to go to realise gender-parity, this move from The Hundred is a significant step in the right direction," Knight said.
"We're all really excited about playing in the new competition and hopefully inspiring more young girls and boys to pick up a bat and ball," she added.
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Scheduled for this year, the tournament will see eight new city-based teams competing over a five-week period.
The new white-ball cricket is a 100-ball per innings format. In the matches, a change of end will take place after ten balls and bowlers can deliver either five or ten consecutive balls.
Each bowler can deliver a maximum of 20 balls per game and each bowling side gets a strategic timeout of up to two and a half minutes.
Moreover, The Hundred will have a 25-ball powerplay start for each team and two fielders will be allowed outside of the initial 30-yard circle during the powerplay.
These playing conditions have been recommended by ECB's Cricket Committee.