ESPNcricinfo understands that each team will be permitted to use one of their 10 retention spots to make a direct overseas signing next year, enabling them to negotiate with players rather than relying on the draft. Teams will also be allowed a fourth overseas player in their squad, though only three in their playing XI.

The salary increases in both the men's and women's game mean that the Hundred's top wages are now near-identical to those on offer in Australia's Big Bash Leagues. The top men's salary in the Hundred is 200,000, which falls into the A$360,000-420,000 range for platinum BBL picks; the top women's salary is 65,000, slightly more than the A$110,000 on offer in the WBBL.

Rob Hillman, the ECB's director of major events, described salary increases as "imperative in the current landscape of global cricket". He said: "We want the best players participating in the Hundred to keep entertaining the millions of fans who've come through the doors in the four years of the competition, particularly families, young people and fans who are new to the game.

"I'm glad in the men's competition we've been able to boost our top earners to 200,000, while to be at 65,000 for our top earners in the women's competition is another step forward. That we are now offering four times what we were able to offer in the first year of the women's competition is telling of the game's continued growth, and clearly not the end of our journey.

"We're really excited about where the Hundred goes next, conversations with potential investors continue to be incredibly positive, and we're committed to continue delivering a world class competition that excites fans across the globe."

The Hundred is expected to run from August 5-31 next year, with fixtures due to be released early next year.