Parramatta legend Nathan Hindmarsh believes the NRL shouldn't break open the war chest to bring Jarryd Hayne back to rugby league given it was his decision to leave in the first place.

Hayne's former teammate insists the NRL shouldn't spend money outside of club salary caps to lure the 28-year-old back to the sport after his stint with the Fijian rugby sevens team at the Rio Olympics in August.

ARLC chairman John Grant indicated Hayne would fit the prototype of an athlete to use the discretionary fund on, however Hindmarsh believes it's money best spent elsewhere.

"I don't know about that fund, I'm not too sure about it," Hindmarsh said.

"If someone has decided to chase another code, and then they want to come back, surely they come back on a level playing term. I know I'm contradicting myself saying we need to get him back, but I would prefer they used the fund on something else. I would rather see it used on something else than on blokes - I'm not going to say turned their backs on the game, but have chosen to leave the game for whatever reason. I find it hard to spend overs on those players to bring them back to the game that they left. That's me."

While Hindmarsh was critical of the NRL's war chest, he expressed his desire for Hayne to return to the 13-man game after the Olympics, even if it wasn't in Parramatta colours.

"It would be nice, whether it's in the blue and gold or any other colour, as long as it's back in the game," Hindmarsh said. "The amount of kids that will be watching him and the media it will generate with him back in the game, if we can get him back to where he was before he left, it would be outstanding for the game. I would prefer it if he did come back for the blue and gold, but I would just like to see him in the game. He's a talent and has plenty of years left in him."

Hindmarsh, who played alongside Hayne through his first nine seasons at the Eels until Hayne left for for the San Francisco 49ers in 2014, warned Eels fans not to get too excited about the mercurial talent returning. "Haynsey never made mention too much of returning to the NRL, so I don't think there's any reason to get too excited just yet," he said. "But I think we're a little step closer to getting him back now that the NFL dream's finished. And obviously rugby union's a lot closer to getting back to rugby league.

"We'll never say never, but we'll just have to wait and see. It'd be nice to see him back in the blue and gold, but whether or not that happens, we'll have to wait and see. If he ends up playing rugby league, that's a bonus for the game."

South Sydney skipper Greg Inglis was one of many in league on Monday who would welcome the 28-year-old Hayne back with open arms.

"There is no doubt he is a great talent, our game is about showcasing great talent, so in the future I would like to see him back in the NRL," Inglis said.

By the numbers: Jarryd Hayne's brilliant career. Photo: Getty Images

Hayne's manager Wayne Beavis indicated a return to the NRL was a possibility. It is likely bidding war will now begin involving NRL clubs and possibly rugby union sides in Australia and Europe.

"We haven't had a chance to talk about plan B but I'm sure there will be no lack of opportunities for him should he come back to Australia and want to play rugby league again or rugby union," Beavis told Triple M.

Hayne said in February, Parramatta would be the only club he would join if he was to make a return to the NRL, however that hasn't dampened speculation linking him to Sydney Roosters. The Roosters lost a number of key players ahead of this season and are said to be $600,000 under the salary cap for 2016. That is money that could be used as a sign-on fee for a player such as Hayne. However Roosters boss John Lee wouldn't buy into any hype surrounding Hayne.

"The Roosters will not comment on media speculation," Lee said.

with AAP