The head body said the package meant women had the opportunity to pursue a fully professional career at both international and domestic levels, while men would continue to be among the country's best paid sport stars.
CA chief James Sutherland said the five-year Memorandum of Understanding contained a number of landmark features.
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"We are pleased that the Australian Cricketers Association [players union] agrees with us that women, for the first time, should be part of the MOU, and we have proposed a financial model that has gender equity at its heart," he said. "Under the proposal, women will receive an immediate average pay increase of more than 125%."
This would see international women cricketers' pay jump from Aus$ 79,000 (US$ 60,885) to Aus$ 179,000 as of July 1 this year, with an expectation that it will rise to Aus$ 210,000 by 2021.
CA said total potential remuneration for all players, including guaranteed and performance elements, would go up from Aus$ 311 million over the course of the current MOU (2012-17) to Aus$ 419m over the next five-year period, an increase of 35%.
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Men who represent Australia at international level would see their average yearly retainer rise to Aus$ 816,000 by 2021/22.
With match fees and performance bonuses, the expected average income for these players -- including Big Bash League Twenty20 payments -- would soar 25% to Aus$ 1.45m by 2021/22, said Sutherland.
"We have placed the emphasis on increasing the guaranteed amount that the men will receive, rather than rely on any projected increase in revenue," he added. "This is a landmark agreement. We are now looking forward to sitting down with the ACA to work through the details and we are confident we will be able to announce a completed agreement before June 30.”
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