New Zealand Cricket, the six Major Associations and the New Zealand Cricket Players Association have signed a Memorandum of Understanding for a new players’ contract.
The new contract, which covers the period from 1 June 2006 until 31 May 2010, will see 25% of NZC’s forecast revenue allocated to the Player Payment Pool. This is an increase from 22.9% in the previous contract.
The agreement has seen increases in player retainers and the number of players contracted by Major Associations increase from 11 to 12.
NZC Chief Executive Martin Snedden said he was pleased with the MOU which will be good for the development of professional cricket in New Zealand.
“The negotiations were positive and constructive. We have formed a solid partnership with the NZCPA in the past four years and I expect that relationship will become even stronger during the term of the new contract,” he said.
New Zealand Cricket Players Association Executive Officer Heath Mills said the new contract will be a positive move forward for the NZCPA.
“A new initiative covered in the MOU is a professional development programme for NZC and Major Association contracted players,” he said.
“We will work with NZC and the Major Associations to design and implement the programme which will have real benefits to players both during and after their careers.”