Last month in Belfast, both men were found not guilty of rape and were acquitted of all charges against them.
According to
, a financial settlement was reached with Jackson and Olding by IRFU officials and the players will be financially compensated before potentially resuming their rugby careers outside of Ireland; both players have been linked with moves abroad since their contracts were revoked on Saturday.
The report says that "the IRFU's decision to revoke the players' contracts and pay off most of the remainder of their contracts is seen as a 'corporate clean up' exercise to restore the sport's reputation".
It is believed that during the internal investigation into the men's behaviour, Jackson and Olding were told a "disciplinary process" would begin and that "it was made clear that in the end, they would most likely have their contracts terminated".
https://twitter.com/cormacbourke/status/985279771805470720
On Saturday, an official joint statement by Ulster Rugby and the IRFU
read: "Following a review, conducted in the aftermath of recent court proceedings, the Irish Rugby Football Union and Ulster Rugby have revoked the contracts of Patrick Jackson and Stuart Olding with immediate effect.
"In arriving at this decision, the Irish Rugby Football Union and Ulster Rugby acknowledge our responsibility and commitment to the core values of the game: Respect, Inclusivity and Integrity.
"It has been agreed, as part of this commitment, to conduct an in-depth review of existing structures and educational programmes, within the game in Ireland, to ensure the importance of these core values is clearly understood, supported and practised at every level of the game."
On Friday,
over 200 people staged a protest outside the Kingpsan stadium ahead of Ulster's clash with Ospreys, Ulster's first home game since Jackson and Olding were acquitted last month.
