Former Australia captain Michael Clarke issued a statement on Wednesday announcing his separation with wife Kyly after seven years of marriage. 

The Australian reports said the ex-couple have agreed on a financial settlement. The divorce is, reportedly, worth approximately $40 million. 

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They will make arrangements to co-parent their four-year-old daughter Kelsey Lee. The reports say Clarke and Kyly had separated five months ago. 

“After living apart for some time, we have made the difficult decision to separate as a couple, amicably,” they told the newspaper in a joint statement. 

“With the greatest of respect for each other, we’ve come to the mutual conclusion that this is the best course for us to take while committed to the co-parenting of our daughter.”

Clarke had previously been engaged to model Lara Bingle. They separated in 2010.