The 1997–98 season was Ulster Rugby's third season under professionalism, during which they competed in the Heineken Cup and the IRFU Interprovincial Championship. The IRFU offered new contracts for provincial players for this season. Full-time players would receive a retainer of £25,000, plus a win bonus of £500 for Heineken Cup matches. Part-time players would be paid a retainer of £7,500, plus a match fee of £400 for Interprovincial matches and £800 for the Heineken Cup, and a win bonus of £450 for both competitions. Each province could have a maximum of 30 contracted players.