Here’s the deal

here's the deal

1. A phrase that precedes an explanation. A: "But why's your mom so mad at you?" B: "OK, here's the deal—she caught me sneaking out again last night." Here's the deal: the publisher moved up the deadline, so I need to see an edited manuscript as soon as possible.
2. A phrase that precedes the presentation of an idea or plan. Here's the deal: I'll distract Mom while you grab the cookies.
See also: deal
Farlex Dictionary of Idioms.

Here’s the deal

tv. This is the plan, scheme, or proposition. Okay, here’s the deal. You pass the ball to Bob, and I’ll run in the opposite direction.
See also: deal
McGraw-Hill's Dictionary of American Slang and Colloquial Expressions
See also:
  • here's the deal
  • here's to
  • here's to (someone or something)
  • here's to somebody/something!
  • go from one extreme to another
  • go from one extreme to the other
  • get in Dutch (with someone)
  • because of
  • I must say good night
  • guess what