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Well there was. There was a top 25 and then you could use 5(?) second tier contracts. So 30 (I think) in total. And just like the current system you had to apply to the NRL if you wanted to use anyone extra - for the exact reason of not allowing rich clubs to stockpile talent.
Don’t think you had to apply as there was a second tier cap. When you used that cap then you had to apply.
Also the top 25 was only the highest 25 paid players.