The Sydney Roosters will sign off on Michael Jennings' release in the next 48 hours, freeing up the NSW centre to join Parramatta on a four-year deal later this week.

Fairfax Media understands the Roosters and Eels have agreed to terms over Jennings' transfer and are waiting on the NRL to rubber-stamp the deal.

The Roosters, who have landed Broncos centre Dale Copley as Jennings' replacement, are yet to sign off on the 27-year-old's release as the Eels finalise the remaining details of his contract.But it is understood the NRL is satisfied with the terms of his deal at Parramatta, which will allow Jennings to put pen to paper potentially as early as Monday.

Given Jennings still has a year to run on his deal with the tri-colours, the Roosters will fork out some of Jennings' contract in 2016, allowing the Eels to fit him in the salary cap for this season.However with his contract to increase in the final three years, the Eels may need to offload some players at the end of this season to ensure they don't breach the salary cap.