Peter V’landys claims incoming broadcast deal, salary cap spike will see the NRL’s first $2 million man
As the NRL’s new broadcast deal inches closer, Chief Executive Peter V’landys says the league is in a better place than ever before, with the upcoming CBA set to redefine player paychecks.
NRL stars such as Reece Walsh and Nathan Cleary are set to receive millions in bonuses as the ARL Commission celebrates an $800 million goldmine - the greatest revenue in the code’s history.
ARLC boss Peter V’landys has delivered a stunning appraisal on the state of the code as the NRL prepares to kick-off the 2026 season in Las Vegas.
The ARLC powerbroker revealed the NRL will post another record surplus - and the big winners will be the code’s 510 full-time players.
V’landys says the code’s first $2 million player is now a genuine possibility, with NRL stars to cash-in on rugby league’s boom, and the fifth consecutive profit since the Covid crisis almost bankrupted the sport.
The ARLC boss also blasted suggestions Rugby Australia is an increasing threat to the NRL, quipping: “I look forward to Wayne Bennett playing for the Wallabies at the World Cup ... and Elvis Presley passing the ball to him.
V’landys will formally deliver the NRL’s 2025 financial-year results at a meeting with clubs on Monday week.
The 17 chief executives will discover rugby league is basking in a fiscal golden age that will see clubs and players rewarded like never before in the NRL’s march to becoming a $1 billion sport during its next TV rights deal.
“We are in the best financial position we have ever been,” V’landys said.
“We will surpass $1 billion in the next few years.
“In 2019, we had $555 million in revenue.
“Because we are making all these profits, the clubs and players will be getting a lot more money.”
IN THE MONEY
The NRL’s outstanding 2025 season not only smashed TV audience benchmarks, it has delivered head-spinning financial results for the ARL Commission.
V’landys confirmed the NRL is poised to celebrate record revenue, surplus and a net-asset base at an upcoming meeting with the clubs.
Code Sports understands the NRL’s surplus will rise from $62.3 million last year to around $65m this year.
Revenue will increase from $744m to north of $800m, up from preliminary forecasts in October of around $770m.
In another financial coup, the NRL’s net assets have boomed to more than $390m, up from $322.3m, with V’landys outlining the ARLC’s plan to beef-up their property portfolio.
“We have recorded another record profit. This is the fifth year in a row we have recorded a surplus, which is a brilliant result for the game,” he said.
“It’s a record profit, but more importantly ... in 2019, players were getting $318 million (in payments), currently they are getting $560 million.
“The increase in distributions and revenue is remarkable.
“The grand final last year between the Broncos and Melbourne was the most watched TV program in Australia (4.48 million viewers).
“When you have a great product with a big audience, that grows your commercial revenues.”
NRL’S FIRST $2M MAN
NRL players have hit the jackpot.
Under the Collective Bargaining Agreement, the NRL agreed to give players 41.5 per cent of “above-forecast” revenue once the NRL established a $300m revenue-generating asset base.
NRL stars are poised to receive the bonus in 2027, the final year of the code’s current CBA.
It means the likes of Broncos superstar Walsh, Penrith champion Cleary, Queensland captain Cameron Munster and Souths ace Latrell Mitchell will share in the rivers of gold, which will flow down to young guns such as Isaiya Katoa, Lachlan Galvin and Ethan Strange.
Cleary is currently the NRL’s richest player on $1.3 million, but the code’s record revenues, in tandem with salary-cap increases from 2028, means rugby league’s first $2m man is real.
Once the revenue-share is finalised, the dividend to players will be worth several millions.
For example, if the NRL is $50 million “above-forecast”, $20.7m will be diverted to the players - an average bonus payment of around $40,000 per man.
V’landys confirmed the financial sweetener for the code’s greatest showmen.
“The players and the clubs will do well because we have over-performed,” the ARLC chair said.
“That means they get an extra payment at the end of the five years as part of our CBA agreement.
“The clubs and players were great partners because they wanted us to get to $300 million in property assets (before they profited from a revenue share).
“The players will get the money.
“In the next broadcast cycle, the salary cap will go up. That’s a matter that has to be negotiated in the next CBA, but there is a possibility we could see a $2 million player.”
BROADCAST BONANZA
V’landys revealed the code’s next TV rights deal - due to begin from 2028 - will be finalised before this year’s grand final.
Streaming giants Netflix and DAZN, the latter of which completed a $3.4 billion buyout of Foxtel last April, have been touted as keen bidders, alongside current free-to-air rights holders Channel 9.
Media industry experts believe the NRL could fetch between $3 billion to $5 billion for a five-year term.
Negotiations are accelerating, with V’landys giving the strongest indication yet the code’s next broadcast deal is imminent.
“It will be done in the next six months, yes,” he said.
“It will be finished.
“We have given ourselves a time frame and we will meet that deadline.
“It’s a huge opportunity for us and yes, absolutely it will be done this year.
“We have started talks, we have spoken to a number of parties, we’re out of the blocks.
“There is great interest in our sport, naturally because we had the highest TV rating audience last year. We have four of the top five most-watched programs.
“So why wouldn’t anyone want us?”
While V’landys is confident the deal will silence critics who have accused the NRL of underselling their current TV rights contract, he is mindful not to rip-off rugby league fans.
“It will be a record deal, absolutely,” he said.
“But we have to look at ways to make sure the fans don’t suffer. Naturally, whatever the broadcasters pay, they try to recoup, so we have to make sure the fans aren’t affected.
“All options are on the table and we have made that clear.
“We will do what’s best for rugby league, but we also have to make sure that we look after our game and the last thing we want to do is make it too expensive for the fans.
“At the end of it, whatever rights fees you get, the consumer pays for it, so you have to be careful you don’t alienate your fans by doing a record deal.
“In the back of our heads, yes, we have to maximise the amount of money we get, but at the same time we have to put protections in place so our fans aren’t paying too much.”
RUGBY THREAT
Rugby Australia has landed some blows on the NRL.
They poached Joseph-Aukuso Suaalii last year. Roosters back-rower Angus Crichton will return to rugby next year, as will teammate Mark Nawaqanitawase as the duo chase Wallabies jumpers at the 2027 World Cup.
Broncos fullback Walsh dropped a bombshell last week when he said rugby was a longer-term option, while Cleary, a free agent in November, has been repeatedly linked with Rugby Australia.
But V’landys said the NRL’s record finances will only make it harder for rugby union to poach rugby league’s elite.
“It’s become a joke really,” he said.
“Why would Reece Walsh and Nathan Cleary go to rugby?
“The next headline I’m going to see is that Wayne Bennett is coming out of retirement to play on the wing for the Wallabies at the World Cup.
“This is after signing Elvis Presley to play in the centres.
“Honestly, now there’s talk about Reece Walsh going to rugby. He has a five-year contract with the Broncos.
“They are repeatedly trying to use our game to get publicity because their game at the moment unfortunately is not entertaining.
“We have 60 minutes of ball in play. They have 30. We have twice as much action.
“If I was rugby union, just focus on yourselves and make your game more interesting.
“I look forward to Elvis throwing cut out passes for Wayne Bennett.”
ANZAC ORIGIN
This masthead revealed last week that the New Zealand government had inked a $5 million deal for a historic State of Origin game on Kiwi soil in 2027.
V’landys confirmed the first overseas Origin game in 40 years, since Queensland and NSW played in Los Angeles in 1987, is on the agenda.
“One of the big growth areas for us has been New Zealand and we are going to maintain that momentum,” he said.
“Taking State of Origin there will maintain that momentum.
“You have to have ambition and the Warriors have been unbelievable for us in New Zealand.
“The Wahs brand has gone global. They have done a fantastic job, they have really captured the hearts and minds of New Zealanders.
“Cameron George (Warriors CEO) has done a brilliant job, he is an outstanding operator.
“Taking an Origin game over there is the next step ... it will be massive for the game.”
EXPANSION SHOCK
A second New Zealand team was seen as a fait accompli in the NRL’s march towards a 20-team competition by the 2032 Brisbane Olympics.
But there is no guarantee expansion is headed to Christchurch.
V’landys believes Queensland can sustain a fifth NRL team following the outstanding success of the Broncos’ River City rivals the Dolphins, who enter their fourth season in 2026.
Brisbane’s western corridor, stretching out to Ipswich and Toowoomba, is crying out for an NRL team and V’landys says the ARLC hasn’t closed the door on Queensland.
“A second New Zealand team is a genuine option, but so is Queensland,” he said.
“We haven’t made up our mind.
“We have left ourselves open on a timeline.
“We have to get the Perth Bears and PNG Chiefs going first, making sure they are successful and once we have them bedded down, we will look at the next stage.
“It’s no secret we want 20 teams and that initiative came from Nick Politis (Roosters chairman).
“A few years ago he got up at an NRL general meeting and said, ‘If this sport is to be successful, we need 20 teams’, and he is 100 per cent correct.
“Who can argue with a man who has made billions?
“I think Queensland can accommodate another team, absolutely, I don’t see why not. Queensland is a rugby league state.
“‘FLA’ (AFL) can try all it can ... but Queensland will always be home to rugby league.”
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