The 38-year-old was found dead on Carisbrooke Street in the eastern suburb of Aranui in the early hours of 4 January.
A 51-year-old woman was last week charged with being an accessory after the fact of his murder and appeared in Christchurch District Court, however, the homicide investigation remains ongoing.
His death left two young boys without a father.
Friend Paul Jarman said the cricket match provided an opportunity to remember Bridgwater and do right by him and his family.
"It will be played once a year to donate money and wrap around the family and give them the support they need at the moment - take that bit of financial strain off them where we can with what people can afford.
"We are not asking people to put in more than they can afford but we are asking to put themselves in the family's shoes for a moment and actually think about the fact that we've got two boys here without a father now.
"We want to make sure they're wrapped around, because David would've done that for any one of us if the shoe was on the other foot. So we're making sure that not only he's remembered each season going forward, but that his boys are looked after for years to come."
This year's match would also help pay for the cost of Bridgwater's gravestone, but in years to come all money would go to the boys, Jarman said.
"David was one hell of a guy and would've done this for any one, even if he didn't know the person, because that's the sort of guy he was. He was a hard working man, a family man and a hell of a person."
Jarman said he had played cricket with Bridgwater for years and this was a fitting tribute to him.
"He's done a lot for our team. He's taught our team a lot about mana, and respect, and integrity," Jarman said.
"He loved his cricket. He played from a young age, much like a lot of the guys in the team and myself.
"He was a handy cricketer ... we love it. It wasn't really about the cricket, it was more about the brotherhood we have there of that team. For the team, this has been huge, because David was my right-hand man when I formed this team years ago. He's been there right from the start."
Bridgwater's teammates, the Blazer XI, would take on a team of his closest friends and family - the Bridgwater XI.
A minute's silence would be observed before the game.
Jarman said official umpires had put their hands up to be involved, and there would be a DJ and a sausage sizzle.