Perth Bears coach Mal Meninga is preparing a multimillion-dollar bid for South Sydney centre Latrell Mitchell, according to The Courier Mail.
Mitchell, 29, remains contracted only through 2027, making him a potential target before the Bears enter the competition in 2028.
South Sydney reportedly plans to delay extension discussions until November 1, despite believing Mitchell can be retained.
The Bears could at least match his current Rabbitohs salary of $1.1 million annually.
The Western Australian club views Mitchell as a $1 million-a-season player and may use corporate support to secure a six-figure third-party agreement.
Those arrangements, ratchet clauses and an expected salary-cap rise in 2028 could lift his income to as much as $1.7 million per season.
Meninga already has a connection with Mitchell after coaching him in Australian teams, including during his 2018 Test debut.
South Sydney will therefore face competition but is not expected to rush negotiations.
The Bears have faced criticism for failing to sign a marquee player, particularly after the PNG Chiefs recruited several stars ahead of their 2028 entry.
The Courier Mail reported that prudent spending has left Perth with the flexibility to make the proposed offer.