The previous Veterans’ List allowance has been replaced with clubs now granted a salary cap allowance for players with 10 completed years or more with the club.
There is no longer an age requirement of 30 years.
The amount of the allowance has been calculated as a fixed percentage of Total Player Payments (TPP) per player based on the average amount of football payments excluded from the TPP for players on the Veterans’ List for seasons 2007-09, divided by the average number of players with 10 or more years’ service at one club during that period.
The fixed percentage has been set at 1.229 per cent and the allowance per player in 2013 is $112,320.
The new Veterans’ Rule started on November 1, 2012.
For TPP purposes, a club can continue operating under the old Veterans’ Rule if the club has a player who qualifies as a veteran during the term of his current contract and whose current contract exists before November 1, 2011.
When a club no longer has a relevant veteran player on its list, or if a club decides by notifying the AFL, the club will change to the new Veterans’ Rule.
A club cannot operate under both rules at once and when a club has changed to the new Veterans’ Rule, they will move permanently to that rule.