Former Australian cricket captain Michael Clarke and his wife Kyly have announced they will separate after seven years of marriage.

The couple issued a joint statement to The Australian on Wednesday night announcing they will split.

"After living apart for some time, we have made the difficult decision to ­separate as a couple, amicably," the statement read.

"With the greatest of respect for each other, we've come to the ­mutual conclusion that this is the best course for us to take while committed to the co-parenting of our daughter."

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It is reported the celebrity pair separated five months ago, with Clarke moving out of their home in Vaucluse before relocating to the pair's Bondi beachfront pad, worth $8 million.

He recently posted a picture of the view from his house on Instagram.

View this post on Instagram

🌍 #bondibeach #life #lovethisplace

A post shared by Michael Clarke (@michaelclarkeofficial) on

The Australian's Media Diary revealed the pair have negotiated a financial settlement without going through the courts and set in place co-­parenting arrangements.

The divorce is reportedly worth approximately $40 million.

It is understood 38-year-old Kyly Clarke will continue to occupy the Vaucluse property with their four-year-old daughter Kelsey Lee.

'WONDERFUL SUPPORT'

The Australian reports the pair are on good terms, and continue to train together at a gym in Rose Bay with no third party involved in the split.

In their joint statement, Michael and Kyly said they would be making "no further comment" about the situation.

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"We'd like to acknowledge the wonderful support we've had from family and friends, and at this time request privacy so that we can manage this next stage of our lives," it read.

The couple married in a secret ceremony at the six-star Wolgan Valley Resort in the Blue Mountains in 2012 and caught the world by surprise when they posted dramatic wedding pictures on Twitter.

The couple had previously kept their two-year relationship out of the media spotlight.

"Happiest guy in the world. Married KylyBoldy yesterday in front of our gorgeous families. Couldn't be happier!" Clarke tweeted at the time.

Kyly said: "Luckiest Woman in the world! Married MClarke23 on the 15th of May 2012. Greatest day of my life, so proud to be your Wife."

In 2015 they welcomed daughter Kelsey-Lee, and spoke to the media about a terrifying bout of asthma she suffered from in 2019.

The same year, Kyly told The Daily Mail her six-year marriage to Michael was going strong.

"We're not, never were and never will be splitting," she said, adding that the secret to their partnership was holding regular date nights.

"Have those date nights so you're always keeping everything nice and fresh," she said.

Clarke had previously been engaged to model Lara Bingle, before the two separated in 2010. Bingle has since married Avatar star Sam Worthington, and the couple have two children.

Clarke represented Australia in 115 Tests, scoring 8643 runs, including 28 centuries. He lead Australia to 5-0 Ashes whitewash in 2013/14 and a World Cup title, before retiring from international cricket in 2015.

In the years since, he has commentated on Channel 9, and was part of the ICC's official commentary team for the 2019 Cricket World Cup.

Clarke will soon join Sydney breakfast radio, joining Sky Radio's Big Sports Breakfast with Laurie Daley.

In October Kyly Clarke was announced as one of the judges of the Seven Network's renovation show House Rules.

She has a company, Lyfestyled by Kyly Clarke and is a social media influencer with 69,000 followers.

Neither Michael or Kyly addressed the split on social media, with their latest posts featuring their four-year-old daughter.

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Right beside you👸 #love #family #myangel

A post shared by Michael Clarke (@michaelclarkeofficial) on