20 Jun 2011

Cricketers accept less pay a reality of the times

11:58 am on 20 June 2011

New Zealand Cricket says players getting paid less is just a reality of the times.

Professional cricketers have part of their salaries deferred until 2015 because of a 'risk and reward' deal struck in August last year with the New Zealand Cricket Players' Association.

The deal allowed cricketers to get more money if revenue was better than expected, but they have to absorb financial shortfalls also.

New Zealand Cricket chief executive Justin Vaughan says shortfalls are forecast in part due to the exchange rate.

"We earn about two-thirds of our income in US dollars and with the currency appreciation our forecasts are not going to be able to hit our projected targets.

"So the professional game has to suck it up and the players understand that - that's just the deal we signed into."

Mr Vaughan says it has come as no surprise to the players that they will be paid less as a result.