Jarryd Hayne could compete at the Olympics and return for the rugby league finals series this season with the NRL to consider registering his contract if it was deemed "in the best interest" of the sport.
The future of Hayne remains up in the air after the 28-year-old's stunning decision to quit the NFL in the hope of representing Fiji at the Rio Olympics in August, but the rules don't prohibit him from returning to the NRL in time for the finals series.
If Hayne doesn't make the final Fiji squad of 12 after the June training camp, the NRL is likely to register his contract before the June 30 deadline, however even if he earns a spot on the plane to Brazil, it doesn't rule him out of an NRL return this season.
If a team with salary cap space like the Sydney Roosters or Gold Coast Titans signed the code-hopping superstar before June 30 and agreed to allow him to play in Rio, he would then be able to feature in time for the finals, if the team qualified.
The NRL, who under the leadership of Todd Greenberg won't open a discretionary fund to lure Hayne back to the game, would need to sign off on such an agreement and be convinced that a contract is in the best interest of the game. While there is no doubt the NRL sees Hayne's return as being in the best interests of the game, there is a concern that allowing the former Parramatta fullback to sign a contract and go off to Rio would set a dangerous precedent.
There has been a push from several players in recent years to try their hand at other sports, but the NRL has been wary approving such exemptions at the risk of losing players to other sports like rugby union in Japan.
Fairfax Media understands salary cap auditor Jamie L'Oste Brown would be reluctant to approve Hayne's contract for this season if he was to play in Rio, but it remains a possibility.
If it was to occur, Hayne's contract wouldn't be registered until the end of June, which means he will need to be paid for the four months leading into the cut-off of the rugby league financial year on November 1.
It is estimated Hayne is worth at least $1 million a season in the NRL, and any contract lodged by a club before June 30 would need to be around one third of his value, setting his minimum price for this season around $300,000.
By the numbers: Jarryd Hayne's brilliant career. Photo: Getty Images
On Tuesday morning, World Rugby confirmed the former Eels superstar will not be barred from Rio contention by drug testing rules.
In a statement, the sport's governing body said its rules do not require a player to be included in a testing pool for a defined period of time before being selected for international competition for the first time.
"Hayne would be eligible for the London round of the HSBC World Rugby Sevens Series subject to all other regulatory and registration matters being met," the statement said.
"He would also be immediately included in World Rugby's pre-Rio 2016 risk-based testing program."
The news of Hayne's departure from the 49ers was sent out by the club's media team at 3.01am Sydney time, which included a statement as to why he was leaving.
"I am retiring from the NFL because the Fiji Rugby Sevens team reached out to me about the opportunity to join the team for the upcoming Olympics, and I simply could not pass that chance up," Hayne said.
"The Olympics has been something I have admired since I was a little boy, and it is an opportunity I feel very similar to me joining the NFL. The 49ers organisation (sic) has been incredibly supportive throughout my journey and I cannot thank them and the support staff enough."
Fiji sevens coach Ben Ryan admitted he had made no guarantees to Hayne about a spot on the Olympic team and would have to earn his position, which could be as early as this weekend's tournament in London.
"I have no promises he is going to make the 12, but we will see how he goes," Ryan said.
"He will then come into Fijian camp for the Olympic period. It is a huge challenge for Jarryd but if he gets into the squad it is only going to be on form, because he is a blinding rugby player. If he doesn't make it, is just shows how good this Fijian sevens side is."
