The average wage for a top NRL player will rise to nearly £200,000 a year as part of a new pay deal worth £566million that will have huge ramifications for Super League.
The National Rugby League finally reached agreement with the players union, bringing to an end more than 16 months of negotiations, which will see the salary cap increased to £5.4m next year and to more than £5.8m in 2022.
That compares to a salary cap in the Super League of £1.9m in 2018 and effectively rules out any more major recruits from the NRL.
The five-year collective bargaining agreement was unveiled at a press conference at Moore Park, next to the Sydney Football Stadium where England had just completed their captain's run ahead of Saturday's World Cup match against Lebanon.
NRL chief executive Todd Greenberg called it "an historic day" while Rugby League Players Association chief executive Ian Prendergast said: "This is a huge win for not only players but the game."
Greenberg said the £566m deal will deliver extra funding for the players' retirement fund, for players forced into early retirement due to injury and a world class well-being and education programme.
"For the first time, our players will receive a 29.5% share of forecast game revenue, as well as a share of any out-performance revenue," Greenberg said.
"In other words, the better the game performs, the more the players will receive."
Prendergast hailed the contribution of former Hull KR forward Clint Newton, described as "the heart and soul of the association", for what he said is a new era for the game in which the players will have an active role.
Highlights of the agreement include:
The new deal was endorsed by Australia captain Cameron Smith in his role as RLPA general president.
"This deal will assist in the continual growth of the sport because for the first time ever, we will be genuinely recognised as partners in the game," Smith said.