Former Black Cap Hamish Bennett is warning more international players will follow Colin de Grandhomme's example and leave for the lucrative T20 leagues.
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The veteran all-rounder announced his retirement from international cricket on Wednesday.
The news came after the 36-year-old was a surprise selection in the inaugural international player draft for the Australian Big Bash League on Monday, despite being ineligible as a player centrally contracted with NZC.
The situation led to discussions between NZC and de Grandhomme, with the national body confirming alongside the retirement announcement they had agreed to release him from his contract.
It also came just three weeks after Black Caps fast bowler Trent Boult was also granted a release from his central contract by NZC.
"It's a massive threat to New Zealand (Cricket) unfortunately. I think a lot of New Zealand cricketers will have put their names in the hat for the Big Bash auction but just wouldn't want their name to go public," Bennett said.
Hamish Bennett in action for the Black Caps against India. Photo: Photosport
"I mean if you apply for another job you don't tell your employer that you are applying for another job. You only tell them when you have got the job so I think a lot of people would have put their name in the hat hoping that if they got picked up in the Big Bash League and things went well they would get an IPL contract."
Bennett believes more players will follow de Grandhomme's lead, particularly fringe international players.
New Zealand Cricket however is playing down concerns about a mass exodus of Black Caps from their national contracts.
"I don't think there will be a mass exodus," NZC's high performance manager Bryan Stronach said.
"We're pretty confident in our environment and how we're pretty adaptive in how we work with those players.
"A lot of the time they do get to go and do things like the IPL and other leagues and still play for their country but we do understand it's different for different individuals."
De Grandhomme said a range of factors played a part in his decision, including his struggles with injury and increasing competition for places in all three formats.
"I accept that I am not getting any younger and that the training is getting harder, particularly with the injuries," the Zimbabwean-born Kiwi said.
"I also have a growing family and am trying to understand what my future looks like post-cricket. All of this has been on my mind over the past few weeks.
"I've been fortunate enough to have had the opportunity to play for the Black Caps since debuting in 2012 and I'm proud of my international career - but I feel this is the right time to finish."
Stronach was also confident they weren't about to be faced with big issues trying to keep top players on or sign them to central contracts.
He said while the T20 leagues had the upper hand when it came to money, the environment within the Black Caps was also attractive to players.
"The success the Black Caps have on the international stage can help ... but we're never going to compete money wise, that's not our advantage.
"That's where we're thinking outside the square. We are letting guys go to the IPL and other leagues and most of the time we can figure this out."
De Grandhomme, who was picked in the Big Bash draft by the Adelaide Strikers, last played for the Black Caps in their first test defeat to England at Lord's in June.
He suffered a heel injury in the match and was then ruled out for the remainder of the series.
The powerful middle-order batter and medium-pace swing bowler finished his international career having played 29 tests, 45 ODIs and 41 T20s.
De Grandhomme hit two test centuries, making 1432 runs at an average of 38.70, while he bagged 49 test wickets at 32.95.
In ODIs, he scored 742 runs at a strike-rate of 106.15 and took 30 wickets, while in T20Is he had 505 runs at a strike-rate of 138.35 and claimed 12 wickets.
De Grandhomme said he still retained a desire to play domestic cricket in New Zealand when available, and would be discussing that matter with Northern Districts cricket.
Black Caps coach Gary Stead said it was sad news, but he understood de Grandhomme's reasons.
"Colin's been a hugely influential part of the Black Caps and contributed to some of the team's greatest achievements.
"His immense power with the bat and skills with the ball made him a real match winner and an asset to any side.
"Colin's a great team man and we will certainly miss his character around the dressing room.
"While it's sad to see him go - we appreciate he's at a stage in his career where he's looking to head in a different direction and we respect that."
-RNZ
