Football Federation Australia and Professional Footballers Australia have detailed a landmark Collective Bargaining Agreement that closes the pay gap between Australia's national teams, the Socceroos and Matildas.
The new four-year CBA ensures the Socceroos and Matildas receive a 24 percent share of an agreed aggregate of national team generated revenues in 2019-20, rising by one percent each year.
The new agreement reflects football's determination to address issues of gender equality in all facets of the game.
- U.S. women's soccer equal pay fight: What's the latest, and what's next?
Significantly for the Matildas, a new three-tiered centralised contract system will see Australia's premier women's footballers provided with increased annual salary from around $66,000 to $100,000 -- the same amount as the top Socceroos.
The allocation of any prospective World Cup prize money to players has also been increased.
Under the new CBA, players are entitled to 40 percent prize money on qualifying for a FIFA World Cup, representing an increase from 30 percent.
That share of prize money increases to 50 percent if they progress to the knockout stage of the competition.
FFA's Parental Leave Policy will be also be reviewed and upgraded to provide an even higher level of support for Matildas during pregnancy and when returning to national team duty.
"This is a unique deal in world football and we believe sets the model for where all federations and players -- male and female -- can take the game to unlock the incredible social and commercial opportunity that, in particular, women's football presents," PFA chief executive John Didulica said.
"The deal is based on the principles of partnership, equality and investment. The players of today are investing in the future of Australian football because they believe in the game and they believe in each other."
Former Matilda and FFA head of game development, Sarah Walsh hailed the advancement as a major win for soccer in Australia, believing it could help it become the country's No. 1 sport.
"FFA, the PFA and all the players are proud to be leading the way in delivering real gender equality within the game we love," Walsh said.
"This agreement is the product of generations of Matildas and their supporters advocating for real change. This moment belongs to all of them as well."