The ECB have confirmed that the men's and women's competitions in the inaugural series of 'The Hundred' will offer equal prize money.

The total cash pot of £600,000 will be split evenly in a bid to show cricket as a more gender-balanced sport.

England and London Spirit captain Heather Knight hailed the news as a 'great announcement for women's sport'.

She said: "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.

"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."

Beth Barrett-Wild, head of The Hundred women's competition, told Sky Sports: "The Hundred gives us a brilliant opportunity to present men's and women's cricket on the same platform. Everything from the team branding and identities - we are doing everything for both sets of players,"

However, she highlighted there was still a need to address salary discrepancies betweeen the sexes.

"We are on a journey with regards to salaries," she said. "I've been working for the ECB for six years now, previously in the communications team, and I remember writing the press release for the first professional contracts in the England women's team.

"If you look at how far we have come in the five years, I am really excited about the direction of travel and where we might be in five years' time.

"We know that the average female salary is 12 per cent of the male's. It's something we are acutely aware of and we are doing everything we can to redress that balance but it's not going to happen overnight."

The new 100-ball event launches in July with the women's competition starting on July 22 as Birmingham Phoenix take on Manchester Fire while in the men's competition the Oval Invincible with host Welsh Fire on July 17.

Finals day for the women's competition will take place at Hove on August 14 and the men will take to Lord's on August 15.