Manchester: The Wisden Trophy, contested between England and West Indies in Test cricket, is to be replaced by a new trophy named after Sir Vivian Richards and Sir Ian Botham.
England begin the final Wisden Trophy meeting with West Indies - the deciding third Test - on Friday.
The two sides will then compete for the Richards-Botham Trophy when they next meet in a Test series.
"It really is a big honour, quite amazing," Botham said.
The new trophy is a tribute to two of the most iconic players in cricket and one of the sport's greatest rivalries.
All-rounder Botham scored 5,200 runs for England and took 383 wickets in 102 Tests. Antiguan Richards is regarded as one of the greatest ever batsman, scoring 8,540 runs in 121 Tests for West Indies at an average of 50.23.
The Wisden Trophy was first awarded in 1963 to celebrate the 100th edition of the Wisden Cricketers' Almanack.
Botham and Richards competed against each other many times over their international careers. But they also played together for Somerset and struck up a strong friendship off the field, and even shared a house during that time.