The NRL has announced a new funding agreement which will deliver more than $100 million extra a year to the 16 clubs in the competition from 2018 until 2022.
The 10-hour meeting between the NRL clubs and the ARL Commission also resulted in an additional $100 million invested to develop the game into an elite competition.
The massive deal — considered to be the most important in the game’s history — follows the $1.8 billion broadcast rights deal secured by the ARL Commission (ARLC) last week.
“The ARLC sought to balance the need for strong and financially viable clubs with the need to invest to grow the game – and this agreement will help us achieve these goals,” ARLC chairman John Grant said.
“The new broadcast deal created a unique opportunity for the ARLC, the clubs and the states to come to an agreement that secures the game’s future – and we all agreed to take it.”
NRL.com reports that a Memorandum of Understanding between the ARLC and the clubs will be signed while the agreement is formalised.
Read more here.
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.