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August 30, 2010
The creation of a participation window for New Zealand cricketers in the IPL and the establishment of a players' retirement fund are among the salient features of an eight-year agreement between the national board, the players association and the six major domestic associations.
Justin Vaughan, the NZC chief, hailed the "ground-breaking" eight-year term of the deal that he said would provide stability to the country's cricketing structure. "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 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," Vaughan said.
Heath Mills, executive manager of the New Zealand Cricket Players Association welcomed the partnership and said the new arrangement would help retain players for national duty. "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.
The agreement is arranged around a new financial model, with professional cricket assuming the risk to guarantee the funding to grassroots cricket and support functions, but also being incentivised to grow NZC's financial return.
Key features of the new agreement:
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