SYDNEY, AUSTRALIA - AUGUST 23: NRL CEO Todd Greenberg speaks to the media during a NRL Media opportunity in recognition of the NRL becoming the first national sporting organisation to reach 'Elevate' status, at Rugby League Central on August 23, 2018 in Sydney, Australia. (Photo by Matt King/Getty Images)

There you have it folks – we have an agreement.

The Rugby League Player’s Association and NRL have reached a new pay deal that will see see players sacrifice five months of wages.

Roosters skipper Boyd Cordner told Fox League Live that players would receive two months worth of pay before foregoing five months worth if the season doesn’t resume.

League chief Todd Greenberg confirmed the agreement on 2GB’s Wide World of Sports radio.

“The players are just finishing now, we’re confident over the next hour we will be able to put out a formal announcement and say we’ve reached an agreement with the players,” Greenberg said.

“Within fourteen days we’ve been able to reset the entire cost base of the game, a task that would ordinarily take months, sometimes years in professional sports.

“I’m very proud of the way the game has worked together during this extraordinary time.

“They’re significant cuts, they’re not easy discussions to have, there’s been a total of just under $25 million that will go to the players, which includes some money that will come from their injury hardship fund.”

The NRL released a statement at 7pm on Thursday night with further details.

“Following a meeting between NRL Chief Executive Todd Greenberg and RLPA CEO Clint Newton, the NRL and the RLPA have today agreed that a total of $24.6 million will be distributed to players.

“The deal will see players earn two months wages and payments. Due to the suspension of the 2020 season, players will surrender five out of 12 months’ salary if the competition is unable to resume.”

The NRL has also offered the Wellbeing and Education program to every club to ensure players are receiving the necessary support.