Parramatta have formally withdrawn their appeal against sanctions imposed by the NRL for salary-cap breaches.
The appeal was lodged by the Eels' previous board shortly before their resignation.
The withdrawal follows a review of the NRL's decision by the club's newly appointed interim board, including legal advice from independent lawyers appointed to consider the merits of challenging the sanctions.
Eels chairman Max Donnelly said on Thursday that after reviewing the independent legal advice, it was clear the appeal was only focused on mitigating certain aspects of the punishments.
"Based on my review, I believe the appeal had no chance of success and should be withdrawn."
Donnelly also announced that, following discussions between the new board and the NRL, $250,000 of the $1 million fine would be suspended for two years pending governance reforms at the club.
