The former Australian captain's long-time mentor, who died in 2010, had much to do with the cross-town rivals, and the concept of playing an annual game in his honour is being supported by both the Ponting and Young families.

''Young was a great mate and one of the greatest influences on my life,'' Ponting said.

''Our family is honoured to join the Young family to inaugurate the Ian Young Memorial Trophy.

''It's only fitting the Mowbray and South Launceston cricket clubs will play for the trophy each year. Young gave so much to both clubs.

''Anyone who has played there over the past decades will have benefitted from his incredible knowledge and passion for cricket, which is now his legacy.''

Young's widow Dorothy said: ``He was very dedicated to both clubs and I think this is a good way to honour his memory.''

Son Shaun Young, who played Test cricket with Ponting and is now South Launceston president, embraced the idea along with Mowbray counterpart Simon Howard, who said: ''I reckon it's a fantastic concept based on what Ian has done for both clubs, for Ricky and coaching in general.''

Not only will a two-day match be played for the memorial trophy, but Kookaburra will supply a full kit bag for the man of the match.

Young negotiated Ponting's first contract with the equipment manufacturer, which has supported the Tasmanian throughout his illustrious career.

''The memorial match was the idea of both families and the clubs were glad to get involved,'' Shaun's brother Brent Young said.

''We talked about it at committee levels of both clubs where Dad spent a lot of time and it was a nice touch that Rick moved it along a bit and got Kookaburra on board because dad organised his first sponsorship with them.''