India, April 16 -- The Mumbai Cricket Association (MCA) on Thursday officially rolled out a player contract system, aimed at providing financial stability to its players, a structured environment and retaining rising talent in Mumbai cricket.

HT had earlier reported about the MCA's plan to introduce a graded contract system, along the lines of the central contracts of the national board. The decision was announced during its previous Apex Council meeting held in January.

With the structural modalities finalised, the MCA became the first association to implement a contract system for its players. The contract structure is split into three categories; Grade A set to receive between Rs.12 lakh to Rs.20 lakh per annum. Those in Grade B will...