Tom Dearden’s contract with the North Queensland Cowboys includes a salary-cap clause that could elevate him to the highest-paid player in the National Rugby League (NRL) by 2028. The Queensland Origin star is currently contracted at around $1 million for the 2027 season, but a provision tied to the league’s salary cap increase could see his earnings jump significantly.

Dearden’s deal reportedly guarantees him 12 percent of the NRL’s salary cap in 2028. With the salary cap expected to rise from $12 million in 2026 to approximately $15 million by 2028, this clause would boost his annual salary to about $1.8 million. Even if the cap increases to $14 million instead, Dearden’s pay would still reach an estimated $1.68 million, making him the highest-paid player in the competition.

This potential salary surge coincides with ongoing discussions about a possible player swap involving Dearden and Sam Walker, another high-profile young halfback. While details of that negotiation remain unclear, the increase in the Cowboys’ salary cap in coming years could influence the club’s roster decisions and contract negotiations.

The NRL’s salary cap has long been a critical factor shaping club rosters and player movement. Recent forecasts suggest a steady rise in the cap, driven by growing revenues in broadcasting and sponsorship, which will likely impact player salaries across the league. Dearden’s contract structure is an example of how players and clubs are adapting to these financial shifts, incorporating performance and cap-related incentives into their agreements.

As the NRL prepares for this anticipated salary cap increase, the Cowboys will need to manage their payroll carefully to balance retaining key talent like Dearden while maintaining overall team competitiveness. The possible player movement involving Dearden and Walker could be a strategic response to these evolving financial parameters.