Per News Corp, the Broncos are currently hashing out the final details of Walters' extension including his salary and performance bonuses in the event Brisbane makes the finals, top four or even breaks their 17-year premiership drought.
The extension will come as a massive relief for Walters following the club's dismal end to the 2022 season, dropping from the top four to outside the eight on the back of losing five from their last six games.
The official announcement is expected before Brisbane's Round 1 encounter with the reigning premiers, the Penrith Panthers at BlueBet Stadium.
One of the reasons Walters was brought on to coach the club he helped lead to six premierships back in his playing days was to re-instil the culture that had seeped out of Brisbane in recent years and bring some of the Broncos' old boys back on side.
One such old boy was Broncos' premiership-winning centre and club icon Steve Renouf who threw support behind Walters, telling The Daily Telegraph, “I really believe we have a team to make the top four.”
“They were in line to do it last year so there's no reason we can't do it this year.
“The one thing Kevvie does know is rugby league and even though we were an attacking team in our day, we prided ourselves on defence and Kevvie will bring that to this team.”
While Kevvie maintains the support of the Broncos' legacy players he has had a harder time recently keeping his current stable in check.
The saga involving Selwyn Cobbo's podcast comments back in November and former utility Tyson Gamble earlier that same year may indicate that not all current players believe Walters is the coach to bring Brisbane its seventh premiership.