The projection of annual revenue-sharing model has been delayed due to uncertainty amid COVID-19 pandemic.
Australia's top cricketers have agreed for the country's cricket board, Cricket Australia (CA), to postpone the assessment of revenue projection in the coming year amid the great deal of uncertainty due to the ongoing COVID-19 pandemic.
Announced this Saturday (July 4), the mutual agreement ended a month-long stand-off between both the parties over CA's projection in June that there will be almost 50 per cent drop in revenue in the 2020-21 financial year, ravaged by the outbreak.
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In wake of the development, the Australian Cricketers' Association has withdrawn its notice of dispute over the Australian Cricket Revenue (ACR) forecast.
Leading Australian players get their pay from the revenue-sharing model, which means the salaries of contracted men and women's players are directly impacted by the forecast.
As per the MOU signed earlier between the players' association and the board, CA is required to provide its annual revenue projection by the end of April, which was deferred by a month this time.
The new agreement allows CA time till later this year when prospects for the next home summer will be clearer to provide the projection.
The board is banking on the next edition of the Big Bash League (BBL) and the lucrative Test series against India in December-January, as those major revenue generators would provide it much-needed relief in these difficult times.
"Calculating revenue projections 12 months ahead during a once-in-a-century pandemic has not been without its challenges," CA said in a statement.
"But we believe we have arrived at a position that provides all parties with greater certainty about how to navigate the next year."
"The ACR will be reassessed in due course, providing time to better assess the financial impact of the pandemic and calculate a clear projection for the year ahead."
(Inputs from AP)