Parramatta is the first club ever busted for brown-paper-bag cash payments, but the rorting information in the public domain is only the 'the tip of the iceberg' as far as the NRL is concerned as it now turns it attention onto the role of dodgy player agents.

The Eels have promised players illegal payments of about $3 million since 2013 via third-party arrangements, inflated and fictitious invoices and in cash under the table. There has been scuttlebutt about clubs paying players in bank notes ever since the NSWRL introduced the salary cap in 1990, but this investigation marks the first time the governing body has caught one of its clubs in the practice.

Throughout the NRL's probe, the current Parramatta regime have pointed the finger at the previous administration, claiming they have diligently been fixing the problems they inherited.

Indeed, when chairman Steve Sharp's regime came into power in 2013, it was bombarded by disgruntled player agents claiming they were left out of pocket from the previous administration. But instead of referring the matter to head office, it's alleged the some current powerbrokers undertook a program - which kicked off in earnest from January 2014 - to rort the system and conceal their tracks.

The NRL had been probing the club for an extended period but their investigations escalated during the past four weeks. It was during this period, when, League Central began examining more than 700,000 documents as part of a forensic audit, that some of the more sensational allegations came to light.

However, the NRL is adamant the information currently in the public domain is just the start, with integrity unit boss Nick Weeks and chief investigator Joe Collins now scrutinising the role of the six-and-a-half-percenters in the matter. Should heads roll, It won't be the first time player agents have been implicated in salary cap rorts, with four influential managers also taken to task for their role in the cap scandal at the Melbourne Storm.

Given cash has changed hands, the development also raises the prospect that the role of players in the latest drama could be scrutinised.

Fairfax Media has revealed an email from former Eels CFO Ed Farish to key officials urged them to report a series of dodgy deals to head office. Their failure to do so - despite the fact they could have used a moratorium to come clean without fear of sanction - ultimately led to their downfall.

As late as Monday night, when he addressed a Parramatta Leagues Club annual general meeting, Sharp claimed the club was under the cap for 2016.

"No discussion at this time can be undertaken around the current NRL investigation until actual clarification around what the issues are is delivered by the NRL," he told a packed auditorium.

"I can advise you, however, that I have been assured by management that our team is 100 per cent compliant for the 2016 season."

The NRL took a different view when announcing its preliminary sanctions on Tuesday, estimating the team is currently $570,000 over the limit. They will not be allowed to play for points until it is on an even keel with its 15 rivals.

Sharp said he was prepared to stand down if it meant the Eels wouldn't lose competition points, telling the meeting: "If they gave me an ultimatum [of] 'if you go, you won't lose any points', I would go … If there have been things that have been done wrong, we will have to accept that, that it has happened on our watch."

But given he charged into the courts on Tuesday to fight the ban, Sharp has no intention of going quietly.