It’s not a new rule which pertains specifically to the Chiefs, remember all the back and forth about Lomax’s deal when he was trying to change clubs, he couldn’t take less money to move. Or when one of the Saifitis, I forget which, offered to take a cut on his salary - it’s not allowed. The rules are very very tight to prevent cap shenanigans.
In terms of those competing offers, players can accept a smaller deal (to be clear: not *a lot smaller*) on a new contract to stay at their existing club, but my understanding was that, for example, Dylan Brown’s Parra contract was going to hit $1.1 million starting this season I think, so we actually *had to* offer that much at least for the NRL to sign off on him joining us.
And yeah the cap auditor estimates player value and won’t sign off on contracts not commensurate with that, generally. Once guys hit a certain age their market value is considered to have dropped and they’ll let the club lop a fair bit off his deal. But one interesting wrinkle of this is just being around longer and more well known means a player is more valuable, automatically. The cap auditor is not approving, for example, a $600K salary for Joey Manu. He was regarded as the best centre in the game, he’s a golden boot winner, etc.
To give an example relevant to us, let’s say Jacob Saifiti does us a favour to give back to the club he loves & accepts a little haircut to keep the team together. Great! But if we send a contract for $450K to NRL HQ, I think it’s as good as certain that they wouldn’t sign off on it unless he’d literally just come off multiple full season long injuries. A haircut looks more like maybe $650K.