KEY POINTS:
Carl Hayman will not be the only player whose massive contract will come under scrutiny as UK tax officials want to reduce the size of offshore image rights payments.
The former All Black tighthead prop is hoping for an early release from his 330,000 ($900,000) a year deal with Newcastle.
Non-payment of part of his salary is believed responsible for some of his dissatisfaction. It is understood that when Hayman signed in April last year, the club's main sponsor, Northern Rock, agreed to pay a one-off bonus on joining followed by smaller, annual payments.
These payments are believed to have been determined as image rights. Image rights are vaguely defined, allowing non-UK residents to negotiate to their advantage. They can apportion a percentage of their salary as image rights - effectively suggesting this is money earned on the back of their celebrity through media appearances, photographs, posters and merchandise.
This money can be paid directly into offshore holding companies where it is not taxed.
While apportioning payments as image rights is legal, the system is open to abuse. Some players are understood to be claiming more than half their salary as image rights so as they can avoid paying tax.
There is no government stipulation on how much of a player's salary can be deemed image rights payments, but it is believed that tax officials become suspicious when more than 40 per cent of a package is paid offshore.
Former UK Chancellor and now Prime Minister, Gordon Brown, is determined to stamp out such abuse and professional contracts are being scrutinised to ensure image right payments are legitimate.
Unfortunately for Hayman, the UK Government now owns Northern Rock having bailed out the bank in September last year.
As the Prime Minister has his hands on Northern Rock's purse strings and he's on a crusade against image rights payments, the financial future doesn't look encouraging for Hayman.
His unhappiness at Newcastle is also being driven by the club's poor form and the different lifestyle offered by the industrial north.
There has also been turbulence behind the scenes when club owner David Thompson was unsuccessful in his recent attempts to sell. Even without his Northern Rock component, Hayman is still one of the biggest earners at the club and in these troubled economic times, Newcastle might be willing to release him before his contract expires in June 2010.
The increased scrutiny into image rights payments is unlikely to affect too many existing contracts but agents say it will have an impact on those who sign for an English or Welsh club next year.
The size of potential contracts is also likely to be affected by the recession which is now starting to bite into rugby. Bristol have reported financial difficulties as have Bath who lost 350,000 this year and are predicting a similar loss in 2009.
This has prompted talk of reducing the salary cap, although it is likely that the bigger clubs will vote against that, having worked so hard to raise it to the current level of 4 million.
There is also optimism among the English clubs they are on the verge of signing an improved broadcast rights deal that should help to weather the financial storm.