FILE PHOTO: Paris 2024 Olympics - Basketball - Women's Victory Ceremony - Bercy Arena, Paris, France - August 11, 2024. Bronze medallists of Australia pose for a selfie with their medals. REUTERS/Dylan Martinez/File Photo
(Reuters) - Australian female basketball players are set to see their minimum salary levels double over the next four years and gain base-level pay parity with men in the third year, in what the country's basketball bodies called "a historic" deal.
A new collective bargaining agreement will lift the minimum salary for players in the Women's National Basketball League from A$23,000 to A$46,952 ($30,016) by the 2028-29 season, with the league's salary cap jumping by 8% every year.
"This agreement marks a historic milestone and is the biggest single leap forward in WNBL history," Jacob Holmes, chief executive of the Australian Basketball Players Association said in a statement.
"WNBL players are now going to be invested in at a level that truly reflects their talent and dedication," he said.
The 8% salary cap will mean a maximum salary of just over A$723,000 by the 2028-29 season.
The agreement, which is aimed at retaining talent in Australia long-term, also includes full contract protection insurance payments for injured players and higher investment in players' wellbeing.
($1 = 1.5642 Australian dollars)
(Reporting by Pearl Josephine Nazare in Bengaluru; Editing by Edwina Gibbs)
