In the top grade section, skipper Kohli has been placed with Rohit Sharma, Shikhar Dhawan, Bhuvneshwar Kumar and Jasprit Bumrah.
"The Committee of Administrators (CoA) was of the view that the performance and position of Indian cricket needs to be recognised with the fee structure comparable to the best in the world", the BCCI said in a statement. The good news is that the CoA have introduced a new category - Grade A+ alongside Grades A, B and C for senior India men.
Virat Kohli, Rohit Sharma, Dhawan, Bhuvaneshwar, and Bumrah were included in the Grade A+ contract.
Delhi left-handed opening batsman Dhawan has seen a meteoric rise as he was in the C category past year.
Under the new compensation system, players in Category A+ will earn Rs 7 crore per year.
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The central contracts mark a departure from a year ago when Test specialists were mainly kept in the top category.
Only five players have been named in this particular top most category. The CoA had made a decision to finalise the contracts after the BCCI finance committee did not pay any heed to call for a meeting and finalise the proposal which was prepared after discussions with head coach Ravi Shastri, skipper Virat Kohli and MS Dhoni. Earlier, there was no Grade A+ in the list while Grade A players used to get Rs 2 Cr and Grade B and C cricketers received Rs 1 Cr and Rs 50 Lakh respectively.
Grade B players, including fast bowler Ishant Sharma and all-rounder Hardik Pandya, will earn 30 million Indian rupees each while Grade C players will receive 10 million Indian rupees each. The official said it is the general body's prerogative to decide on creating the Players Revenue /Compensation Equalisation Fund (PR/CEF) which was initiated by the CoA as stated in the press release.