Major questions still hang over the future of the men's and women's sevens programs and the solvency of RA,with no broadcast deal in place yet for 2021.
But finalising the deal will allow RA to apply to World Rugby for access to its $160 million relief fund,potentially drawing on $16m in cash advances and low-interest loans in as little as a week's time.
The final pay deal proposal,a summary of which was obtained by theHerald,outlined how big a role the JobKeeper scheme,worth $3250 per month to eligible workers,would play.
With a 60 per cent cut all but agreed on a total wages bill of about $15m over the six-month period,JobKeeper will cover almost 57 per cent of the outstanding $6m,leaving RA and the Super Rugby teams to cover just $2.6m,representing a saving of 83 per cent.
The scheme will cover the entire post-cut salaries of eligible athletes on $95,000 or less per year,with Rugby Australia or a player's Super Rugby club to pay the full 40 per cent of anyone not eligible for the scheme.
For players on annual salaries higher than $95,000,RA or the relevant club will make up the gap between the Job Keeper payment and the total 40 per cent figure.
For example,a player on $200,000 per year would go down to $80,000,with JobKeeper covering $39,000 and the Waratahs $41,000. Over the six-month period,that would see the Waratahs pay out $3416 per month.