BRISBANE, AUSTRALIA - AUGUST 23: Coach Anthony Seibold of the Broncos speaks at a press conference after the round 23 NRL match between the Brisbane Broncos and the South Sydney Rabbitohs at Suncorp Stadium on August 23, 2019 in Brisbane, Australia. (Photo by Bradley Kanaris/Getty Images)

The Brisbane Broncos and Anthony Seibold are set to part ways after what has been a nightmare season for both parties, per The Courier Mail.

Seibold is likely to cut ties with the club in a payout deal within the next 24 hours, with the coach's five-year deal being cut short.

The awaiting decision comes as Seibold was set to return to his side's bubble in the coming days after staying in Sydney for a family matter.

However, it is now being speculated that a deal could be made with Seibold receiving a $1 million payout as Kevin Walters fronts as Seibold's replacement.

Phil Rothfield of The Daily Telegraph said that the decision could be final in the coming hours.

“He was made an offer on Friday when he spoke to (club chairman) Karl Morris, an offer to step away with a financial settlement,” he said on Big Sports Breakfast.

“I think his manager Isaac Moses will run it past lawyers today.

“I think by the end of play this afternoon the Broncos will officially have cut ties with Anthony.”

Walters is set to be offered the job he missed out on two seasons ago, with the Queensland Maroons position soon to be left vacant.

While his name has been heavily linked, Walters denied any speculation surrounding the matter.

“I guess until we actually hear from the coach himself it’s all really speculation,” he told Big Sports Breakfast.

“There’s been a lot of stuff flying until we hear from Anthony and the Broncos it’s pointless commenting on it.

“I haven’t had any contact from the Broncos. I’ve tried to stay in my lane and be respectful.”

Seibold's departure would mean a heavy financial gain for the Broncos coach.

“This is the biggest story in the game at the moment,” James Hooper told Big League Wrap.

“By rights Anthony Seibold... is entitled to $3.2 million. This is a smart play and the right play from the Broncos.

“Try to draw a line under it, move on and they can begin to repair the damage.

“It clearly didn’t work, the Anthony Seibold experiment.”

The Broncos have won just two matches in 15 games in 2020 and face a massive overhaul in the coming months.