Australian police arrested four men in dawn raids on Wednesday in connection with the alleged kidnap and assault of former test cricketer Stuart MacGill, media reported.
"Our belief is that the motive was purely financial. He was seen as someone that they could get money from, although no money was paid prior to him being released," Detective Acting Superintendent Anthony Holton told reporters in Sydney.
The man did not sustain any serious injuries but due to the traumatic experience he filed a police complaint six days after the attack, Holton said.
Andrew Symonds dies aged 46
The police alleged that the victim knew one of his captors.
Four men - aged 27, 29, 42 and 46 - were charged and refused bail to appear in court on Wednesday.
MacGill played 44 tests for Australia between 1998 and 2008 and probably would have earned many more caps had his career not coincided with that of fellow spin-bowler Shane Warne.
The fun side of the Australia winning machine
Root steps down as England captain