Melbourne and North Queensland’s $1.5m salary cap loophole for Cameron Smith, Johnathan Thurston

THE Storm and Cowboys have found a legal way to exploit the salary cap by $1.5 million with a testimonial game for Cameron Smith and Johnathan Thurston.

Cameron Smith and Johnathan Thurston make their way with the Captains of the sixteen teams to the NRL Season Launch for 2017 in Martin Place, Sydney. Picture. Phil Hillyard

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MELBOURNE Storm and the North Queensland Cowboys have found a legal way to exploit next year’s salary cap by a combined $1.5 million in staging a testimonial game for Maroons legends Cameron Smith and Johnathan Thurston.

In a dangerous precedent, the NRL will allow the two clubs to play a trial match at Suncorp Stadium in Brisbane in February with all gate takings, sponsorship, merchandise and potential TV rights being shared by the two superstars.

They could become the code’s first $2 million stars by collecting up to $750,000 each — which is exempt from the salary cap — on top of their $1.3 million playing contracts.

The match could net Smith and Thurston up to $750,000 each.

The timing is interesting in that Smith, as president of the RLPA, is entangled in bitter negotiations with NRL powerbrokers over the collective bargaining agreement.

Melbourne Storm chief executive Dave Donaghy declined to comment when contacted by The Daily Telegraph on Thursday.

His club could the benefit again next year by putting on a similar ‘charity’ game for Billy Slater.

Under the ‘testimonial’ arrangement, the Storm could hypothetically pay the champion fullback less than his market value but offer him up to $750,000 from a one-off game.

The code’s rules allow for testimonial matches but they are rarely approved by the NRL.

Cameron Smith and Johnathan Thurston are set to cash in on their NRL stardom.

Given the status of these two players the NRL felt it was appropriate.

Both clubs and the players’ managers have worked on the loophole for a number of months.

NRL CEO Todd Greenberg said Smith and Thurston deserved the chance to play in a testimonial match.

“We do not approve these matches lightly but there is no doubt these are two of the best players to play the game,” he said.

“Not only have they reached the highest level in representing their State and country but they have done it in style.

Should the NRL allow a testimonial match?

“They are both a credit to the game and fans deserve the chance to pay respect to them.”

It also opens the door for rival clubs to escape salary cap pressure by offering other long-time champions like Paul Gallen at the Cronulla Sharks a money-making swan song.

It is interesting in that Smith has been one of the most vocal critics of the NRL in the recent pay dispute.

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He has even threatened to boycott the Dally M Awards by recently saying: “If it’s the right thing to do for our playing group I’m willing to sacrifice that night.”

‘Off the record’ conversations with club chief executives indicate there will be a backlash.

Especially at clubs like the Canterbury Bulldogs who are desperately trying to move players on but unaware that players like their skipper James Graham could also have been offered a testimonial.