Flanagan, who has yo-yoed his way in and out of first-grade during his time at the Canterbury Bulldogs in recent seasons following stints at both the Cronulla Sharks and Sydney Roosters, was on around $600,000 during the final year of his deal at the Bulldogs.
The Sydney Morning Herald are reporting that his pay packet at the Dragons, who he joins to keep his NRL career alive in 2024 has been cut in half and then some.
It means Flanagan, has prioritised staying in the NRL over money. He will play under his father in 2024, with Shane Flanagan moving back into the head coaching game at the Dragons after spending 2023 as an assistant coach at the Manly Sea Eagles.
It was rumoured on multiple occasions last year, and as far back as 2021, that the English Super League would be the most likely new home for Kyle.
At one stage, it was suggested he would make the move at the end of the 2021 season before Canterbury director of football Phil Gould elected to watch him behind an improved forward pack.
That came to nothing though, with the club's signings struggling to make a dent over the last two campaigns. Despite that, Flanagan has been linked with an exit from the Bulldogs every since to England, and was dropped mid-way through 2023 before transforming into a bench utility and playing a handful of games at the back end of the season.
With Moses Mbye exiting the Dragons, that is the role he is expected to play for the joint-venture, although he will be likely battling youngster Connor Muhleisen for the 14 jersey - that said, the young gun hasn't been officially re-signed by the Dragons yet who are fast running out of roster spots.