Players contracted with Cricket Australia are set to face pay cuts after the board has reportedly incurred a 50 percent loss due to the non-commencement of matches after the novel coronavirus pandemic outbreak.
The cricket board has paid its players just over a quarter of the revenues as per their revenue-sharing agreement in their collecting bargaining agreement.
Newspapers in Australia have reported that the board has originally forecast a revenue at around A$400 million ($276 million) in the 2020/21 season but it has been expected to fall short by a minimum of A$80 million.
According to reports, “The Players Union, the Australian Cricketers’ Association, confirmed that they had received revised revenue projections from CA and would hold a board meeting to discuss them later on Thursday”.
In the crisis-hit situation, several state associations in the nation have made a pay-cut to suffice to the losses.
Meanwhile, the board has projected revenue of A$300 million from the four-Test series against India in December.