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The Board of New Zealand Cricket has ratified a new eight-year agreement with the New Zealand Cricket Players Association.
The new agreement is now with the Boards of the six Major Associations – the other parties to the agreement - for their ratification.
The NZCPA will complete a full ratification process with all players when domestic teams assemble in October.
“New Zealand Cricket is delighted to have worked so closely with the NZCPA and the Major Associations to create a sustainable agreement which provides long-term stability for cricket and our players,” said Justin Vaughan, NZC CEO.
“An eight-year term is groundbreaking, and signals the long-term nature of our partnership with the NZCPA. Through the eight years $65 million is guaranteed to fund grassroots cricket and a further $25 million is ring-fenced for NZC reserves. These elements underwrite the future of cricket in this country.”
The new agreement is arranged around a different financial model, with professional cricket assuming risk to guarantee the funding to grassroots cricket and support functions, but also being incentivised to grow NZC’s financial return.
“The long-term approach has allowed all parties to plan with certainty for the future and ensure that investment levels can be maintained into grassroots cricket. This is particularly important considering the significant changes we have seen to the shape of cricket in recent times,” he said.
Vaughan said the agreement will also provide an aspirational environment for players at both international and domestic level which would encourage them to continue playing in New Zealand.
Heath Mills, Executive Manager NZCPA welcomed the new partnership agreement.
“We are delighted with the agreement. The negotiating parties have worked hard to create an outcome which is good for cricket, good for players and secures the future of the game - and we believe we have achieved that,” he said.
“We shall have an environment which will develop quality cricketers and, more importantly, it should enhance our ability to retain them playing full time in New Zealand which is critical for the ongoing growth of the sport.
“The establishment of the Professional Cricket Advisory Group is a significant plank of the new agreement and will see players having a formal input into decision making processes that impact on them around the professional game.
“The financial model in the new agreement will also ensure players are well rewarded, especially in the event that NZC exceeds its forecasts. We believe this is a fair model in professional sport,” he said
Key features of the new agreement include:
$65 million of guaranteed funding to grassroots cricket
During the eight years 2002- 2010 approximately $40-45 million was invested in grassroots cricket in New Zealand
The ring-fencing of $25 million to NZC reserves from the 2015 hosting of the ICC Cricket World Cup