FORMER Wallabies winger Joe Roff looms as a potential replacement for Michael Jones after the polarising chief executive agreed to step down from his position on Saturday night.

Jones reached a confidential settlement with the Brumbies board to leave the job next week.

The Sunday Telegraph understands Jones will walk away with more than $500,000.

The development comes after it was revealed Jones wanted an investigation into the workplace behaviour of senior players Stephen Moore and Scott Fardy.

After the settlement was reached with Jones, the Brumbies announced there would be no investigation into the pair.

“We can confirm that the Brumbies are not conducting any investigation into the actions of either player,” a Brumbies spokesman said.

Brumbies CEO Michael Jones. Source: Getty Images

“The board and management take the issue of workplace behaviour very seriously and ensure that any complaints received are dealt with appropriately to ensure the rights of our players and staff are protected.”

Roff has previously been sounded out for the CEO role at the club he earned legendary status as a player, and it’s understood he is a popular figure who could unite a club that was rife with division under Jones’ reign.

A statement released by the Brumbies said “Jones has agreed to leave the Brumbies, after an orderly hand over early next week, on terms that are to remain confidential.

“The parties have also agreed that they will make no further comment on the issues that led to this outcome.

“Both parties believed that it was in the best interests of the Brumbies that this dispute be settled quickly and outside of the courts so that the focus can return to the players and the team and the great club of the Brumbies.”

Joe Roff is held in high regard by the Brumbies. Source: News Corp Australia

While the Brumbies are already in financial difficulty, Jones’ relationship with the board had become untenable and the public feud was destabilising the club so it was felt a settlement had to be reached.

Brumbies chairman Robert Kennedy said: “I want to reassure our business partners, stakeholders, players, staff and members that the board has full confidence in the remaining executive management team within the Brumbies and our current financial position to continue operations throughout the 2016 season.

“We are immensely proud of our rugby program at the Brumbies and once again we’ve had a positive start to the season both in terms of on-field results and crowd support.

“I would ask all Brumbies fans to rally behind the team and continue to show their support in what we hope will be another successful year.”