Three months ago, Brian Waldron, now at the centre of the Melbourne Storm salary-cap fiasco, was flying high.

The colourful chief executive had been so successful in helping the Storm deliver two NRL premierships and retain - amid a few raised eyebrows - some of the best players in the land that he was poached on a lucrative deal by the fledgling Super 15 rugby franchise, Melbourne Rebels.

"I leave the Storm in tremendous shape and we've achieved some amazing things here in my time," Waldron said in a statement on January 11.

Three months on and how things have changed after one dramatic afternoon.

Waldron now not only faces a very early termination to his Rebels contract but perhaps a criminal conviction. That scenario is a real possibility after the Storm, under his stewardship, was found to have systematically rorted the salary cap by $1.7 million over a five-year period.

It should be made clear that others at the Storm - perhaps even board members - also knew what was going on, so Waldron wasn't alone. But as CEO, he ultimately is responsible.

Rebels chairman, prominent media buyer Harold Mitchell, was unavailable for immediate comment on Thursday night. But the thoughts of shattered and angry NRL chief executive David Gallop and News Ltd chairman John Hartigan - News, after all, bankrolls the Storm - were clear. They want blood.

While the NRL world shook, Waldron's precarious position didn't go unnoticed in the AFL, with former colleagues at St Kilda and Richmond watching intently the afternoon's developments.

Waldron allegedly had left one of those clubs under a cloud which, for legal reasons, cannot be detailed by backpagelead.com.au.

He had been football manager at Richmond in the 1990s, joined the media for a couple of years where, to all intents and purposes, he was a polished performer, before joining the Saints.

Waldron was chief executive at the Saints between 2002-04 but, for a variety of reasons, lost the support of president Rod Butterss and coach Grant Thomas. There was one issue they clashed over repeatedly and when Waldron refused to follow a particular path as dictated by the board he was cut loose.

Thomas, away on business in Wellington, and Butterss refused to comment when contacted by backpagelead.com.au on Thursday night.

"I am more than happy to answer that question but in fairness to Brian, I need to speak to him first," Butterss said.

A high-ranking official from a rival club told backpagelead.com.au Waldron deserved praise him for the way he handled rape allegations against Saints Leigh Montagna and Stephen Milne in 2004, but, according to club insiders, there was little support for the man universally known as "Wally".

One well-placed source, with an intricate knowledge of the club's workings, said he always felt "Waldron had always been looking out for No.1".

"The Saints were kicking on at the time. They had just gotten Nick Riewoldt and other draft picks and Wally rode the wave," the source said.

"He felt had been responsible for success, others clearly didn't think so."

For journalists chasing a quote, Waldron had always been good value. He was generally friendly, up for a chat and even returned phone calls - not always the case amid the cut and thrust of the professional sports world.

But this time, perhaps unsurprisingly given the scale of what had transpired during the afternoon, Waldron was in no mood to return his calls.