Marcus Stoinis has received a hefty fine for directing a homophobic slur towards Kane Richardson during a Big Bash League fixture.
The Melbourne Stars all-rounder accepted his mistake and confessed to using abusive words against his counterpart.
Stoinis was thus found guilty of breaching Cricket Australia's code of conduct and was penalised AUD 7,500, which is equal to USD 5,200.
"I got caught in the moment and took it too far," Stoinis said of the unfortunate incident that took place in the Stars' clash against cross-town rivals Melbourne Renegades.
"I realised immediately I was in the wrong and I apologise to Kane and to the umpires.
"I did the wrong thing and accept responsibility for my actions. The standards are there for a reason and I accept the penalty."
Sean Carroll, Cricket Australia's head of integrity and security, referred to the matter as a "personal abuse of a player" and explained the stance taken by the board was in accordance with the grotesque action.
"The behaviour in this matter falls short of the standards we expect and we have acted accordingly," he said.
"There is no place for it in the game," added Carroll.
Stoinis' sanction comes six weeks following James Pattinson's one-match suspension for a similar crime involving a homophobic slur.
Pattinson copped this punishment before the first Test against Pakistan as it was his third code of conduct breach in 18 months.