The International Cricket Council (ICC) have announced the 2020 World Twenty20 tournament will take place in Australia and New Zealand for the first time.
The two countries are also due to host the 2015 ICC Cricket World Cup, which begins on Saturday (February 14) with the clash between New Zealand and Sri Lanka in Christchurch, and runs through to March 29.
"It's an honour to be hosting a global event on behalf of the ICC," Cricket Australia chief executive James Sutherland said.
"We haven't cast our minds that far ahead yet, 2020 seems like a long way away.
"We'll focus our attention on that after this tournament."
The upcoming World Cup is the first time a major cricket tournament has come to the continent since 1992 and ICC chief executive David Richardson, who played for South Africa during that event, admitted they would like to stage more events in Australia and New Zealand.
"We'd like to come back to Australia and New Zealand more often," he said.
"The fact is the timezone for this part of the world, relative to the rest of the cricket playing world, is not ideal.
"But what makes it special is the tournaments have come few and far between, which adds to the excitement and the level of anticipation for this event."
The first World Twenty20 competition took place in 2007 in South Africa and have continued on a biannual basis since, but after the 2016 tournament, due to be held in India, it will become a quadrennial event.
Sri Lanka are the reigning champions after they won the 2014 tournament, staged in Bangladesh, with a low-scoring victory over a highly-fancied Indian side in the final in Dhaka.
Other winners of the World Twenty20, initiated following a surge in popularity in the shortest format of the game, include Pakistan, West Indies, India and England.
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