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ICC confirms 2015 and 2019 World Cups will be 10-team affairs
The Board had decided in October 2010 to reduce the number of participating teams in the flagship event of the game, which means that small nations, mostly Associate members will not get the chance to play at the big stage.
The 2015 tournament will be held in Australia and New Zealand.
"The Board agreed that the 2015 World Cup will comprise the existing 10 Full Members, however, they gave notice to all Full Members that participation in the 2019 ICC Cricket World Cup will be determined on the basis of qualification," an ICC statement said.
"It was also agreed that post the ICC Cricket World Cup 2019 there will be promotion and relegation introduced in the ODI League."
The Board though in its October meeting had decided that the ICC World Twenty20 will comprise 16 teams. This would allow six Associates the opportunity to participate in an ICC global event every two years.
The Board have a thumbs up to the successful organisation of the 2011 World Cup by India, Sri Lanka and Bangladesh.
"This ICC Cricket World Cup has been very successful and memorable. Whatever we achieved was due to the full support of the governments of Bangladesh, Sri Lanka and India.
"And in particular I would place on record our gratitude to Prime Minister Manmohan Singh, Prime Minister of Bangladesh Sheikh Hasina and President of Sri Lanka Mahinda Rakapakse who are ardent followers of our Great Sport," ICC President Sharad Pawar said in a statement.
"The tournament reinforced the attraction of 50 over cricket and showed the enthusiasm and excitement generated by nation v nation cricket. There is no doubt that this event has been a great advertisement for ODI cricket," he said.
In another important decision, the ICC Board said it will propose changes to the ICC Constitution to prevent undue interference by governments in the administration of cricket in the member countries.
The ICC said the changes would be such that it would not be limited to just interference in operational matters, the selection and management of teams, the appointment of coaches or support personnel or the activities of a Member.
The proposal will be made at the annual conference in Hong Kong.
The Board also listed important achievements of the 2011 World Cup mainly 'improved infrastructure at various stadia, response and support of the public, viewership and TRP ratings and the financial success of the tournament'.
The Board has agreed to a review of the process of the sale, allocation and distribution of tickets for the World Cup 2011, particularly 'tickets which found their way on the black market'.
In a good gesture, the Board agreed to donate USD one million to New Zealand Cricket to allow them to re-establish their offices after their original premises were destroyed in the 22 February 2011 earthquake.