Cricket Australia have agreed in principle to a Heads of Agreement with the Australian Cricketers’ Association that resolves key issues and provides the basis for a full Memorandum of Understanding for 2017-22.
This comes after a pay dispute that has been arguably the most fractious in the history of Australian cricket and caused the cancellation of an A tour to South Africa.
Cricket Australia CEO James Sutherland said ‘the HOA is a welcome outcome of recent negotiations. It resolves the fundamental issues and provides a clear pathway towards a new MOU.
‘Importantly, it restores certainty to the game it allows CA to re-contract all players and for the important Bangladesh tour to proceed as planned.’
Mr Sutherland said that "both sides have compromised in order to reach an agreement. The outcome reflects sensible change in the overall interests of the game."
"CA looks forward to working with the ACA over the next couple of weeks to finalise the new MOU."
The revenue sharing model which was the centre of the dispute is set to be replaced by a Player Payments Pool (PPP)
A modernised revenue sharing formula will be achieved by developing a Player Payments Pool to a dollar value based on external market benchmarks, internal equity and financial viability, and forecast cricket revenues. PPP of $459m (would be the equivalent of 27.5% assuming ACR of $1.67bn).
Payments for top international players will remain much the same with the Performance Pool (PP) extended to include international women’s players.
In total payments to female player’s will increase from $7.5m to $55.2m.