Pat Cummins is set to become one of the highest-paid cricketers in the world.
After reportedly receiving a massive contract extension offer from Cricket Australia
worth nearly 12 million Australian dollars (around Rs 66 crore) over three years.
According to a report by The Age, the proposed deal would keep the Australia captain contracted until 2029 and raise his annual earnings to almost 4 million Australian dollars (around Rs 22 crore), as Cricket Australia attempts to match the growing financial pull of franchise leagues and the Indian Premier League.
The new contract is expected to boost Cummins’ yearly salary by nearly 1 million Australian dollars ahead of a packed international calendar that could see Australia play 21 Tests within a 12-month period.
Cummins, who currently captains Sunrisers Hyderabad in the IPL, was retained by the franchise for Rs 18 crore before the ongoing season.
The report added that fellow Australian stars Travis Head, Marnus Labuschagne and Cameron Green are also likely to receive upgraded contracts.
Under Cricket Australia’s current pay structure, the average men’s retainer exceeds 1 million Australian dollars annually before match fees and bonuses. Cummins’ proposed agreement is also expected to include a larger guaranteed component regardless of the amount of cricket he plays.
By the end of the deal in 2029, Cummins will be 36 years old.
Cricket Australia’s head of cricket, James Allsopp, admitted the board was under increasing pressure from franchise cricket to retain its biggest stars.
“It is a really tricky balancing act. One thing we do know is that the market pressure is coming at the players who drive the most commercial value,” Allsopp said.
“Your multi-format players like Pat, Josh [Hazlewood] and Trav, there’s a lot of demand for those players. So ensuring they remain committed to Australian cricket is a really big priority.”
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