SYDNEY, AUSTRALIA - MAY 31: Wayne Bennett head coach of the Rabbitohs looks on prior to the round 12 NRL match between the Parramatta Eels and the South Sydney Rabbitohs at Bankwest Stadium on May 31, 2019 in Sydney, Australia. (Photo by Jason McCawley/Getty Images)

The NRL's newest franchise are set to confirm Wayne Bennett as their first coach by the end of the week.

It's long been rumoured that whichever of the three bids were selected by the NRL would be coached by Bennett, with the Dolphins being formally announced as the competition's 17th club this morning.

Bennett has history as the first coach of a club, having done it with the Brisbane Broncos when they first gained admission into the NRL.

The coach has been active in the NRL for decades, and is the most successful coach in the competition's history. The 71-year-old, being a Queenslander, could also be the ideal candidate to lead the NRL's 17th franchise as it gets accustomed to the competition.

Already linked with plenty of big name stars coming off-contract at the end of 2022 including the likes of Cameron Munster, Kalyn Ponga and Clinton Gutherson, Bennett coaching will only add to the pulling power of the Dolphins.

GOSFORD, AUSTRALIA - AUGUST 11: Cameron Munster of the Melbourne Storm in action during the round 21 NRL match between the South Sydney Rabbitohs and the Melbourne Storm at Central Coast Stadium on August 11, 2019 in Gosford, Australia. (Photo by Ashley Feder/Getty Images)

According to The Sydney Morning Herald, Bennett's deal with the Dolphins will commence from November 1, and that the club would lock him in for two years, with an option for a third.

It's understood he has hired Sam Ayoub to make the deal with the new club.

The Dolphins will be based out of Redcliffe, however, won't have Redcliffe in their name, with the club currently running simply under The Dolphins, with a public vote flagged to pick the club's full name before they are asked to play their first game.