Paul Gallen and Sonny Bill Williams are poised to finally face off in the boxing ring next year.

As was initially reported by The Daily Telegraph, the fight is on track to take place next October after a clause in Williams' $10 million contract with Toronto Wolfpack permitted him to fight.

Wiliams and Gallen will reportedly receive $2 million each for the bout.

Williams agreed to fight the Sharks captain two years ago, and the wait could finally be over, providing Gallen can topple former AFL star Barry Hall this Friday.

"I've got to deal with Barry Hall first and get him out of the way... we'll worry about Sonny later," Gallen said.

The former Sharks player is adamant a $2 million 50/50 split is justified.

"It will be a 50/50 split or it won't be happening. Everything was lopsided his way last time. Not anymore. I bring as much to the fight as he does," Gallen said.

"He'll make his couple of million so there will be no excuses for him to back away again."

However, Williams' agent Khoder Nasser has other thoughts.

"If Gal honestly thinks he's entitled to a 50/50 cut the poor bugger has had too many head knocks," Nasser said.

The big payday would add to Williams' lucrative contracts, after his record-breaking deal with Toronto was announced earlier this week.

The deal will see Williams earn around four times the wages paid to NRL superstar Daly Cherry-Evans ($10 million over eight seasons) and AFL superstar Lance Franklin ($10 million over nine seasons).

Williams won the Rugby World Cup with New Zealand in 2011 and 2015 and last played professional rugby league with the Roosters in 2014.

Other rugby league and union teams were rumoured to be in the hunt for Williams' signature after his contract with New Zealand Rugby ended following the All Blacks' bronze medal win over Wales.

Toronto had a competitive advantage over interested rivals of being able to sign Williams as a Super League marquee player where just $300,000 of his salary will be included in the team's salary cap.

McDermott said recently his team wanted to bring in a David Beckham-type player to do for the Wolfpack what the former Manchester United favourite did for LA Galaxy — and that Williams fits the bill.

The Wolfpack, a Canadian franchise, is funded by Australian mining billionaire David Argyle and will make its debut in the Super League next year after winning promotion by beating Featherstone Rovers.

Williams is expected to join the Wolfpack around Christmas for their preseason campaign.