Mitchell Pearce has been fined $125,000, with $50,000 of it suspended for two years, and banned for eight weeks over the Australia Day video controversy that landed the Sydney Roosters halfback in strife during the pre-season.
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It is the heaviest fine imposed on a player in Australian rugby league history.
The Roosters and the NRL had been at odds over the severity of Pearce's penalty in the days after his return from a month spent at a rehabilitation clinic in northern Thailand.
The club had been angling for a ban of between three to four weeks with a fine of $200,000 while the governing body wanted him sidelined for 10-12 weeks.
They have ended up landing in the middle, with Pearce effectively fined $75,000 and suspended until round nine.
In a statement released on on Thursday, Pearce said : "Firstly, for any hurt or damage I've caused anyone, especially my family, the club and the NRL, I again apologise.
"Now that this has been decided, I can get on with my rehab, bunker down with training and work each day on making the right choices in what I do."
Roosters chief executive John Lee said Pearce's return in round nine against Newcastle was contingent on his ongoing rehabilitation and good conduct.
"This was a complex and unprecedented matter that required careful consideration. It was paramount we delivered the appropriate level of discipline, but neither could we ignore the player welfare component," Lee said.
"It was pleasing to see that Mitchell contacted our chairman Nick Politis and suggested that the lengthy stint on the sideline was what he deserved.
Roosters players were told about the penalty soon after it became public on Thursday afternoon.
"I guess it's a fair whack," Roosters prop Sam Moa said. "And I guess that's why they took their time coming to that verdict. As Mitchell has stated before he's going to cop it on the chin."
"It's a bit unfair but whatever happens he's going to cop it on the chin and moving forward we are just going to have to deal with it."
The length of the suspension means Pearce will be available for NSW State of Origin duty, although he will have limited time to impress coach Laurie Daley beforehand.
In the meantime, the Roosters will to rely on the emerging Jayden Nikorima, their off-season recruit from Brisbane, to fill the void in the halves with Jackson Hastings.
The Roosters begin their season against South Sydney at Allianz Stadium on Sunday.
"He was very apologetic and we accepted that," utility Mitch Aubusson said. "And now we move on to the footy on Sunday."
The NSW Origin representative was reprimanded for his Australia Day antics where he was filmed after a drunken Sydney Harbour cruise simulating a sex act with a dog.
There were calls for Pearce to receive a lengthier ban of a year or perhaps even a life ban but Roosters coach Trent Robinson had said on Wednesday that he thought those claims were over the top.
"Being thrown out of the game for an incident like that is over the top, it would be unprecedented in our game," Robinson said. "He hasn't been sacked by a club before and I think the people who have made those comments have tempered their views."
Pearce returns to Roosters training on Monday.
Earlier this week, Pearce said he was ashamed for the damage his actions had done to his family's reputation, particularly his mother Terri and famous father Wayne.
"It is horrible for dad, he has always supported me and it is hard for him. I am putting him under pressure a lot," Pearce said. "That is something I have come back a lot clearer about. There has never been any intentional disrespect, but I didn't think about that. I was just totally selfish. I need to take responsibility, which is something I have always shied away from."