The International Cricket Council (ICC) knockout tournament has been revamped with a new name and format.

The ICC Knockout, which has been staged twice over the past four years in Dhaka and Nairobi, becomes the ICC Champions Trophy when it takes place in September. Teams from 12 countries will compete for total prize-money of $1.2 million (£850,000).

Whereas the previous two tournaments have been a straight knockout, this year's will see four groups of three teams, with the winners of each group progressing to the semi-finals.

"The Knockout has been a highly successful event but with Holland included as the winner of the ICC Trophy and therefore the leading associate member team, a new format and name was required," said ICC chief executive Malcolm Speed.

One thing the ICC have yet to decide is where the tournament will take place. It had been planned to stage it in India, but a dispute between the Indian government and the domestic cricket board (BCCI) led to the BCCI withdrawing their bid.

The final choice of host country, match venue and programme of fixtures will be announced after the ICC executive board meeting in Cape Town on March 16. Sri Lanka are the favourites.

Pool 1 Australia, Bangladesh, New Zealand
Pool 2 England, India, Zimbabwe
Pool 3 Kenya, South Africa, West Indies
Pool 4 Holland, Pakistan, Sri Lanka

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