which sport is it meant for?
Cricket
Cricket World Cup
The ICC Cricket World Cup Trophy is presented to the winners of the World Cup. The current trophy was created for the 1999 championships, and was the first permanent prize in the tournament's history. 
when was the current world cup trophy introduced It was created for the 1999 championships.
wiki:1631833
Cricket World Cup [SEP] Trophy
The ICC Cricket World Cup Trophy is presented to the winners of the World Cup. The current trophy was created for the 1999 championships, and was the first permanent prize in the tournament's history. Prior to this, different trophies were made for each World Cup. The trophy was designed and produced in London by a team of craftsmen from Garrard & Co over a period of two months. The current trophy is made from silver and gilt, and features a golden globe held up by three silver columns. The columns, shaped as stumps and bails, represent the three fundamental aspects of cricket: batting, bowling and fielding, while the globe characterises a cricket ball.