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The nib Newcastle Knights are set to benefit from a binding agreement signed by the ARL Commission and NRL clubs on Tuesday.

ARL Chairman John Grant and Club Chairs representative Bart Campbell said the agreement was a breakthrough for the future of the game.

They said both parties had changed their original proposals and worked collaboratively to reach the agreement.

“Under this agreement, the clubs will have the long term financial security they have been seeking,” Mr Grant said.

Mr Grant said the package included:

. A significant increase in club payments in the next five year cycle

. A special fund set up to assist financially distressed Clubs

. A 65 per cent increase in funding for grassroots Rugby League

Mr Campbell said the agreement would ensure that the game was strong at every level – from grassroots through to the elite.

“The clubs and Commission have a common goal – to make Rugby League as strong as possible into the future,” he said.

“This agreement delivers the funds needed to achieve that target.”