Brisbane Broncos (ASX:BBL) said the Australian Rugby League Commission (ARLC) secured a funding agreement with the Australian Government for a 10-year Pacific Rugby League Partnership, according to a Monday filing with the Australian bourse.
The partnership will fund the introduction of a Papua New Guinea-based National Rugby League team in the expanded Telstra Premiership Competition, with the ARLC also confirming AU$4 million payment to the 17 existing NRL clubs, the filing said.
The payment will be made in five installments, starting with an initial AU$1.75 million payment in April and recurring annually thereafter, per the filing.
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