Wellington July 26 (IANS) New Zealand Cricket (NZC) on Thursday announced a new deal with the players association that will see the cricketers receive 26.5 percent a hike of approximately 16 percent of the revenue generated in the next four years starting August 1.
According to the new master agreement New Zealand s players are set to share $4.45 million (NZD 65.3m) over the four-year term from August 2018 - July 2022.
The new agreement also includes a slight change to the contracting process with NZC s annual central contracts being reduced by one (from 21 to 20) and the number of annual domestic contracts for each major association increasing by one (from 15 to 16) a statement from NZC said.
Commenting on the new agreement negotiations NZC chief executive David White said: "I just want to congratulate everyone involved on the constructive manner in which the entire process was conducted."
"It was evident throughout that all parties shared a common interest in striking an agreement that was fair progressive and good for the overall game in New Zealand " he added.
The new agreement also included a forecast investment of $1.94m (NZD 2.85m) into the cricketers retirement fund over the four-year term.
Next in line are the contracts of the women cricketers which expire on July 31 next year. The NZC is mulling at running both the men and women s deals concurrently.

--IANS tri/bg