LAHORE - The ICC officials said here Wednesday that they were satisfied with arrangements for the Champions Trophy currently but they would continue to monitor the situation in the country. "Thus far it is safe to say that the ICC is satisfied with the progress made by the Pakistan Cricket Board for the arrangements of the Champions trophy," said Dave Richardson, chief executive officer of the ICC. On reservations from Australian and New Zealand players on the ICC Champions Trophy participation, Richardson said that it was premature to come to any conclusion. "The final decision for holding the event would be taken by the ICC board. But up till now everything is on course and it is the PCB to finalise the construction work in time. "As far as the security of the teams is concerned, the ICC will not take any chances on the stakeholders' security and it would make sure everything is in order and will keep monitoring the situation on regular basis till the event is played," said Richardson. "So far we are proceeding with the staging of the event in Pakistan," he added. Richardson was addressing at a press conference along with event director Ahmed Farooq, vice-captain Pakistan cricket team Misbah-ul-Haq and chief operating officer PCB Shafqat Naghmi. The ICC Champions Trophy administrative matters are being considered on daily basis, said Richardson. Richardson said that the Champions Trophy was one of the major ICC events of the calendar. "The best teams of the world will be taking on the best during the 18 day activity to have 15 matches of high quality," he added. "We would ensure there would be high quality of cricket played and standard is maintained," said he. On Australia's apprehension on Pakistan tour, he said that the ICC have a process of bilateral series in which the boards have to take decisions and as far as the Champions Trophy participation was concerned, the parent body have an agreement with all the participating team. "In case the agreement is breached and any team refuses participation then we would follow the code of conduct to penalise that team," he added. Misbah-ul-Haq said that he was happy to be the part of the ICC Champions Trophy and holding this event in Pakistan is very enthusiastic for the people. "This would be my second ICC event after the T20 World Cup and I am excited to take part in it and looking forward along with the team to perform in it on home soil." "The Pakistan public was waiting for major event since long and the Champions Trophy will provide them with the required entertainment," said Misbah. Naghmi said that since the 1996 World Cup this is the major ICC event to be held in Pakistan and he was hopeful of high quality cricket in Pakistan that would go a long way in the development of the game not in the country but also in the region. "The Champions Trophy is vital for the game in Pakistan," he added. Ahmed Farooq said that his team have worked very hard for the arrangements of the event and would work even harder from now on. He further said that he welcome all the ICC officials and promised to make the trophy a memorable event to remember during the years to come. Background of ICC Champions Trophy * This is the sixth time the tournament will take place * It started in 1998 and has taken place every two years since that date * By the end of this year's event, the ICC Champions Trophy will have raised US$75million for developing cricket among the ICC's Associate and Affiliate Members * The tournament was called the ICC Knock-out on the first two occasions it was contested, in 1998 and 2000 * The tournament's name was changed to the ICC Champions Trophy for the 2002 event and subsequent tournaments * Previous venues for the tournament have been Bangladesh (1998), Kenya (2000), Sri Lanka (2002), England (2004) and India (2006) * The top eight teams on the Reliance Mobile ICC ODI Championship as of 11 March 2008 have been invited to take part in this year's tournament. Previous events have involved nine teams (1998), 11 teams (2000), 12 teams (2002 and 2004) and 10 teams (2006) * The 1998 and 2000 tournaments had a straight knock-out format; the 2002 tournament was contested by the 10 Full Members plus Kenya (automatic qualification because of its ODI status) and the Netherlands (winner of the ICC Trophy 2001); the 2004 tournament was contested by the 10 Full Members, Kenya (automatic qualification because of its ODI status) and the USA (winner of ICC Six-Nations Challenge held in the UAE, March 2004); the 2006 event included the top six teams on the ICC ODI Championship table as of 1 April 2006 joined by Sri Lanka and West Indies who qualified from the preliminary round that was also contested by Zimbabwe and Bangladesh * The number of matches in each previous tournament were nine (1998), 10 (2000), 15 (2002 and 2004) and 21 (2006). For the 2008 event, there will be 15 matches * Previous winners are: South Africa (beat the West Indies in the 1998 final); New Zealand (beat India in the 2000 final); Sri Lanka and India (declared joint winners after the final was rained off), West Indies (beat England in the 2004 final) and Australia (beat West Indies in the 2006 final) 2008 edition * This year's tournament will feature the top eight sides from the Reliance Mobile ICC ODI Championship table on 11 March 2008. They are: Australia, South Africa, New Zealand, India, Pakistan, Sri Lanka, England and the West Indies * The teams have been divided into two groups according to their seeding. Group A: Australia, India, Pakistan and the West Indies. Group B: South Africa, New Zealand, Sri Lanka and England * Each side plays all other sides in its group. The top two teams from each group progress to the semi-finals with the top side from Group A playing the second-placed side from Group B and the second-placed side from Group A playing the top side from Group B * The winners of those two matches shall contest the final * The total prize money for this year's tournament is US$2.5million. How it will be divided up will be finalised in due course * The total number of matches in this year's tournament will be 15 * The ICC Champions Trophy 2008 will be staged at three venues: Karachi, Lahore and Rawalpindi * All matches will be day-night ODIs