The duo had been out with a number of teammates on Sunday evening following a fan day put on by the club. It occurred on the same weekend as Brisbane's first trial against the Wynnum Manly Seagulls where most of the likely best 17 didn't play, and just weeks before the side are due to fly out for Las Vegas.
It has been since reported that Reynolds was attempting to get Carrigan to head home from the venue in a taxi before the pair became embroiled in the brawl, which quickly went viral on social media.
The Broncos confirmed they were aware of the incident on Monday afternoon in a statement, and said the NRL Integrity Unit were also investigating the issue.
News Corp has since reported the duo are unlikely to be suspended from any matches, and instead will only be fined for their actions.
“We won't be suspending them. The NRL integrity unit is now looking at all the vision and they'll be doing some interviews so it is sort of out of our hands now and into theirs,” Walters said.
Carrigan, speaking to the media on Tuesday, said Reynolds only had his best interests at heart.
“I won't get into the ins and outs of it but Adam had my best interests at heart and it was clearly time for me to go home,” Carrigan said.
Reynolds meanwhile said it was 'embarrassing.'
“We're embarrassed,” Reynolds added.
“We fully take ownership for what happened. We're a really tight group. We understand it's not a good look but we were there as mates.
“It started out as a playful fight and a little bit of wrestle that got a little bit heated but there was no one injured. We understand it's not a good look in the public eye and we take ownership.”
The duo are both part of the leadership team at Brisbane, with Reynolds the club captain, and Carrigan likely viewed as the man who will take over the role from Reynolds when the halfback retires.
Reynolds confirmed whatever punishment is handed down for the duo will not be contested.