The 25-year-old Tasmanian-born speedster extended his Hurricanes contract by three years before the start of the embargo period, with the side confirming the news on Wednesday.

"I'm really excited to be on for another three years," he said.

"Obviously we've got a really, really good squad going forward and a really good squad already locked in."

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Despite their being no coach confirmed for the Hurricanes next season, the team has secured its nucleus for BBL12 with Meredith, Nathan Ellis, Ben McDermott, Joel Paris, D'Arcy Short and Matthew Wade all confirmed.

As well as signing on for the Hurricanes, Meredith had his Indian Premier League future secured earlier this month, bought by the Mumbai Indians alongside David for $186,000.

"It's a bit of a weird one going in, obviously you don't really know what's going to happen and then it happens and it's over in about 30 seconds," he said.

"I'm really excited to be going to Mumbai, obviously it's nice to have a few familiar faces there with Timmy David and Tymal [Mills], who played with the 'Canes a few years ago."

David was the talk of the competition after his million-dollar payday, with Meredith in a similar position last season when he was bought by the Punjab Kings.

"It was sensational to watch, I've been messaging him a fair bit in the last few weeks and he's over the moon with it," Meredith said.

"I was probably in a pretty similar position last year and it probably hasn't sunk in yet for him but it's really exciting for him and I hope he does really well."

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Meredith has been out of action since the Hurricanes' Eliminator loss due to a rib injury, with Tasmanian Tigers interim coach Ali De Winter expecting his return soon.

"[Recovery] is going pretty good, just a bit slower than I would have liked." Meredith said.

"It's just a bit of rib issue, it's a bit of a weird one but should be fine going forward."