Mr Jones and board officials will meet to continue discussions for the parties to mutually part ways.

It's a massive step forward after more than a month of court-room battles and behind-the-scenes power plays that have distracted from the Brumbies' on-field performance.

Mr Jones met with Brumbies chairman Robert Kennedy last week but rejected an initial payout offer, believed to be well below a figure that would entice Mr Jones to leave his post.

News of Mr Jones accepting the offer of mediation came as he missed a deadline to file a statement of claim in the ACT Supreme Court on Thursday.

Mr Jones used whistleblower laws to temporarily prevent the Brumbies from standing him down on March 21, at least until his case could be heard in full by the court.

Mr Jones alleged he disclosed sensitive information about irregularities of the sale of Griffith and believed the board was being pressured into sacking him.

Justice Richard Refshauge ruled in Jones' favour as the Brumbies board failed in its bid to have the injunction dissolved, adding in his judgement the public interest disclosures were a "dominant factor" in the board's decision to stand down Mr Jones.

But Mr Jones was late to file his formal complaint against the Brumbies board, the University of Canberra, its vice-chancellor Stephen Parker, David Lamont, the University of Canberra Union and Joe Roff.

To start the proper proceedings, Jones was ordered that he must file his statement of claim, the legal document setting out his allegations, by last week.

He missed that deadline, drawing a rebuke from the court, and Jones was ordered to file the claim by Thursday at 4.15pm. That deadline was missed.

​It remains unclear whether the Brumbies board and Mr Jones will reach an agreement even with an independent mediator brought in to help negotiations.

It is believed Mr Jones is owed bonuses as part of his performance agreement while the board would need to fork out a significant amount to reach an amicable agreement.

The Brumbies lost more than $1.6 million last year despite the club's on-field performance, and another hit of what could be up to $1 million would be a major blow.​

The Brumbies' financial state is part of the reason Mr Jones and the board are at an impasse following a KPMG report into transactions at the club between 2009 and 2013 relating to the sale of the club's Griffith headquarters and subsequent move to the University of Canberra.

The $11.375 million sale was supposed to put the Brumbies on a solid financial footing, and  allow the creation of a trust fund for Canberra's local rugby clubs.

But the proceeds of the sale have almost dwindled after $5 million was spent moving to the university and financial deficits in recent years.