Australian cricket has finally reached a pay deal with the players

Photo: Marco Longari/ AFP/Getty Images

The long-running pay dispute between Cricket Australian and the players association is over.

CEO James Sutherland said the two sides reached an in-principle agreement on “core issues”.

The revenue-sharing model Cricket Australia wanted to end remains in place and will now flow to female cricketers as well as the men, which players association boss Alistair Nicholson hailed as “the biggest pay rise in the history of women’s sport in Australia”.

The new deal gives players up to 30% of agreed revenue, including a 2.5% performance pool.

As part of the peace plan, players will be consulted more on scheduling and receive back pay when they sign the deal.

The player retirement fund will be bolstered and community cricket also scores an additional $25 million.

The deal comes just before Australia’s tour of Bangladesh, which only a few days ago Australian captain Steve Smith was in doubt if the dispute was not resolved. Players have effectively been unemployed since the old agreement expired on June 30.

Last week Sutherland said that a “peace plan” had been put forward to the Australian Cricketers’ Association so matches to go ahead on short term contracts, and it looked like the two sides would end up in arbitration before the lucrative Ashes test series got underway in Australia this summer.

Today he said both sides regretted the “difficult and even acrimonious” negotiations and acknowledged it had “been a bit of a turnoff for some fans”.

The five-year deal is estimated to be worth around $500 million.