According to the Herald Sun, with Shane Warne, Justin Langer, Glenn McGrath and Damien Martyn retiring and with the deals of Jason Gillespie, Michael Kasprowicz and Simon Katich expiring, the panel will be left with about 2.5 million dollar to share among the new generation.
Among those to benefit most from the new contract will be World Cup bound pacer Stuart Clark and Shaun Tait, Tasmanian swing bowler Ben Hilfenhaus, West Australian opener Chris Rogers and all-rounder Andrew Symonds.
Tait, who is spearheading Australia's pace attack in the Caribbean in the absence of Brett Lee will also press to be one of Cricket Australia's top 10 highest-paid players.
Meanwhile, Aussie skipper Ricky Ponting is certain to be ranked Australia's number one player for the third successive year on a base contract of between 650,000 dollar to 700,000 dollar.
Speedstar Brett Lee is also likely to hold his number two player position despite missing the mega event.
Even big-shouldered opener Matthew Hayden's consistent form at Test and one-day level this summer could see him back in the top five players.
The newspaper also reported that the CA has announced a pay performance bonus of 300,000 dollar for each member of the World Cup bound squad if they win the mega event for the third consecutive time under the leadership of Ricky Ponting.
In addition, all the players receive a touring fee of around 100,000 dollar each and around 12,000 dollar on a weekly basis.