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CA, players reach peace on reset finances

By AAP Newswire

Cricket Australia and its players have brokered peace, with last month's financial revenue forecast reset and postponed until a clearer picture is available.

Locked in a dispute since last month, when CA predicted a near 50 per cent drop in revenue for the 2020-21 financial year - a projection the governing body removed on Saturday.

Following the developments, the Australian Cricketers' Association withdrew its notice of dispute relating to the Australian Cricket Revenue (ACR) forecast.

CA will retain the right to provide a new projection later in the financial year, given they were working off several models when the initial forecasting was done.

The move is seen as a win and common-sense approach from both sides of the fence, given the picture for the summer ahead still remains so unclear.

It also signals the first real progression between the two parties in months, and comes just weeks after Nick Hockley replaced Kevin Roberts as interim chief executive.

Previously locked into providing the forecasting by the end of April in the MOU before a month-long extension was granted, officials will now be able to have a better idea of how the summer will progress.

Officials are still hopeful of uncapped crowds for both the international summer - including four Tests against India - and the Big Bash League.

However the recent spike in Victoria has shown how unpredictable the coronavirus is and what affect it could have on the summer.

The Twenty20 World Cup - scheduled for Australia in October and November - is also still to be cancelled, in what is expected to be a $20 million blow to the organisation.

"Calculating revenue projections 12 months ahead during a once-in-a-century pandemic has not been without its challenges," CA said in a statement.

"But we believe we have arrived at a position that provides all parties with greater certainty about how to navigate the next year.

"The ACR will be reassessed in due course, providing time to better assess the financial impact of the pandemic and calculate a clear projection for the year ahead.

"Today's agreement is a significant step forward in cricket's response to the challenges presented by the COVID-19 pandemic.

"(It) should provide our stakeholders with renewed clarity and confidence about the summer ahead."

The ACR projections do not immediately impact player pay, but rather the adjustment ledger at the end of the MOU.

Changes in the forecasting of the ACR happen on an annual basis, however naturally none have been as significant as during the coronavirus.

"This 'reset' is both welcome and sensible," ACA Chief Executive Alistair Nicholson said.