Latrell Mitchell remains without a contract beyond 2027, and the South Sydney Rabbitohs will now have to compete for the signature of their 29-year-old star.
It was reported earlier this week that the Rabbitohs will wait until November 1 to start any conversations regarding an extension with Mitchell.
The Rabbitohs are confident they can agree on a deal to keep him at the club.
There is one NRL club willing to pay a significantly large deal to lure Mitchell from Sydney.
According to The Courier Mail, Mal Meninga and the Perth Bears will make a multimillion-dollar move if he does not sign an extension before November 1.
South Sydney will not rush negotiations with Mitchell as rivals, and the Bears prepare to compete for his signature.
It is understood that he could earn up to $1.7 million per season in Western Australia if he joined the Western Australian-based side in 2028 and in seasons beyond.
The Bears view Mitchell as a $1 million-a-season player and could leverage Western Australia's corporate sector to help source a significant third-party agreement of up to six figures.
Perth are willing to at least match Mitchell's $1.1 million salary that he currently earns at the Rabbitohs.
With an increase in the NRL's salary cap in 2028, although no official number has been announced yet, as well as ratchet clauses and third-party agreements, Mitchell's salary could rise.
There is an established relationship between Meninga and Mitchell, who coached the star in Australian teams, including his 2018 Test debut.
Fan and media discourse has been negative about the Bears' inability to recruit a marquee player, especially after the PNG Chiefs have recruited several star players to their side when they join the competition in 2028.
The Courier Mail also reported that the Bears have spent their money wisely, as the club has flexibility to offer the $1.7 million deal.
In three seasons, he has played just 34 games due to multiple injuries and suggestions have been made that his true value is $800,000 compared to his $1.1 million salary.
Mitchell's marketability and heading to Western Australia could create a surge in fan and corporate interest in the club, as well as a 'beacon of hope' for future Indigenous stars.
The current Rabbitohs star would bring premiership-winning, as well as Test and Origin experience.
Perth Bears have signed 27 players for the 2027 season, with three more spots in their top 30 remaining.
On Tuesday, the club also confirmed they signed their first Western Australian-native teenager, Zane Murray.
The Perth Bears NRL squad will begin their preseason training in November as they prepare for their inaugural season.
