A press agency in India reports that the sport's governing body, the International Cricket Council, has backed down from demands that players should limit their sponsorship deals.
The ICC had wanted players' deals quoshed to ensure no clash with its major corporate backers.
It would mean players were tied to endorsing products of ICC sponsors rather than individually negotiated deals.
With the agreement covering both the Champions Trophy and next year's World Cup, it was feared the tough new rules could cause chaos.
But players from all the major cricket playing nations and their representatives responded angrily with the majority refusing to sign the ICC's contract and threatening a boycott of next month's tournament.
According to Indian media reports, an ICC spokesman has said the rules will be relaxed for the World Cup, and only apply to the Sri Lanka event.
The World Sport Group, together with News Corp, acquired the commercial and media rights to ICC sanctioned cricket events in July 2000, in a seven-year deal worth an estimated $550m (EUR562.83m). It was managed under the joint venture umbrella of the Global Cricket Corporation.
The ICC tournaments include the ICC Cricket World Cups in South Africa (2003) and the West Indies (2007), the ICC Knockout tournaments (in 2002, 2004 and 2006), the ICC Trophy tournaments (in 2005) and the ICC Youth World Cups (in 2002, 2004 and 2006).
However, earlier this summer it was revealed News Corp were set to buy out World Sport Group's 25 percent stake in the company.
Both the ICC and World Sport Group were unavailable for comment when contacted by sportbusiness.com
