The two parties had been due to reappear in the NSW Supreme Court today but, after considerable negotiations, joint venture club the Northern Eagles' licence will now revert to Manly, as had been stipulated.
While the terms of the deal will remain confidential, it is believed that Norths agreed upon condition that the licence will revert to them if Manly doesn’t meet its financial commitments in running the Eagles.
"All parties have agreed to the terms of the settlement but those terms won't be revealed," Manly CEO Ian Thomson said.
"In terms of the financial aspects of [the agreement], I don't really feel that's appropriate given that both parties agreed that we wouldn't talk about that part of the issue.
"What I can say is all parties agreed that the last thing the game needed was more legal battles, and for that reason everyone got their heads around trying to work to resolve the issues - happily for everyone that was done."
Manly are now in negotiations to play some of their 2002 home games at NorthPower Stadium in Gosford, where Norths have administration rights, while the other games will be held at Brookvale Oval.
