The ARL Commission has announced a profit of almost $50 million as NRL boss Dave Smith declared that rugby league had never been in better shape.

Amid record TV ratings for 2014 and talk of a $2 billion dollar deal when the next broadcast rights are nutted out, Smith painted a rosy picture of rugby league’s future at the annual general meeting on Friday.

With the pre-season dominated by the arrest of South Sydney players John Sutton and Luke Burgess and the cocaine drama on the Gold Coast, Smith was at pains to point out the growth the game was enjoying.

“In two years we have built a combined operating surplus of close to $100m that will be reinvested back into the game,” Smith said after announcing a an operating surplus of $49.9 million for its 2014 financial year.

“We’re proud that this surplus has been achieved while the NRL has continued to increased financial support for all aspects of the game,” Mr Smith said.

“We have also put aside $50m into a long term Sustainability Fund that will ensure the game’s underlying position is secured,” Mr Smith said.

“We have increased distributions to the clubs, the state leagues and into the development of the game to more than $200 million.

However only two clubs, believed to be Brisbane and South Sydney, made a profit last year.

Although Souths remain in debt.

The NRL has been forced to step in to prop up Newcastle, Gold Coast and St George Illawarra.

The planning of new stadia in Sydney is atop the NRL’s hit list in terms of helping the game grow further, Smith said.

“Our focus is our clubs and securing their sustainability; investment into rectangular stadia which will drive a better fan experience; staying committed to enhancing our brand; building value into our future rights; and a dedicated focus on key strategic priorities in football such as pathways and competition structures from the grassroots up to the elite level,” he said.