The player contracts that the Board of Control for Cricket in India (BCCI) has been working on for so long now might finally get implemented.

One of the clauses, that cut 50 per cent of the players' match fees if they lost to a weaker side, ha been removed, and they will now get bonuses for victory, but no pay cuts for defeat.

Ratnakar Shetty, the joint secretary of the BCCI, told that the contracts have already been sent to the senior players who were leading the negotiations Sachin Tendulkar, Saurav Ganguly, Rahul Dravid and Anil Kumble.

"The players' lawyer will evaluate the clauses and get back to the board soon," Shetty said. "We are on target for implementing the contracts before the team leaves for Australia."

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The BCCI is waiting for the players' response to the contracts, and if no further objections are raised, they will be implemented immediately. The selectors, the coach and an official nominated by the BCCI will select 20 players who will get central contracts.

Those players will be placed in three grades: A, B and C. Grade A players will get an annual retainer of 60 lakh rupees (approximately 132,500 dollars), Grade B players will get 30 lakh rupees (66,250 dollars) and Grade C players will receive 15 lakh rupees (33,125 dollars).

Match fees will be paid in addition to these graded contracts, ensuring that most contracted players will make more money under the new system than they do presently.

Players who do not have central contracts but are picked to play for India, thus, will get paid pretty much as they do now.