"I think, the format itself works. Whether we promoted those first round matches well enough, that is a question we need to answer at a later stage and review it," Richardson told Cricket Radio ahead of the World T20 finals of the men's and women's teams.
"The format has worked in that all the matches, first round and second round, it is designed to create even contests between the teams and to that extent it has worked exceptionally well," he added.
"That might be useful and then even maybe increasing, instead of having a Super 10 have a Super 12 maybe which will again increase the number of matches but, I think, it will give more opportunities for the Associate members to participate in the second round of the tournament itself," he elaborated.
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"The danger of course is that if we keep pushing T20 and keep playing T20 events every two years, it will effectively cannibalise the other two," Richardson said.
"We want to make sure that we keep an even and more reasonable balance between the three formats. Hence, the decision to go with one men's World T20 in a four-year cycle."
As for cricket as an Olympic sport, the ICC chief
executive said that for cricket to be included in the 2024 Summer Games, collective support has to come from the ICC's membership base, BCCI in particular.
"[The IOC is] not interested in beach cricket or six-a-side cricket. They would want the T20 format to be used in the Olympics," Richardson said. "I think, the IOC would like cricket but they would only take us if all the members were fully committed including India. Now the matter is being discussed again at the April meeting," Richardson added.