The discarded Bulldogs forward, who was let go by the Belmore-based club just after the end of the season following an off-field incident which saw him stood down for the final two games of the season, has been heavily linked with both the Wests Tigers and Raiders.
While it's understood Elliott may have snubbed the Tigers' offer, the Raiders were thought to be in a spot where the salary cap simply wouldn't allow them to make a play for Elliott.
However, a cut-priced deal is seemingly in the offering, and with two spots left on their roster, The Canberra Times are reporting one of them could be used on the 27-year-old.
Club chief executive Don Furner said there was interest in Elliott, and that the club were organising a meeting with the middle forward who can also line up on the edge.
"We're just exploring opportunities there," Furner told the publication.
"We'd want to meet him first, we'd have to do all that first, but there is some interest there, yes."
The Raiders are looking for an experienced forward to replace the departing Dunamis Lui, Ryan James, Siliva Havili and retiring Iosia Soliola, and Elliott would bring just that, having spent years at Canterbury.
While Furner said a meeting still needs to be done, The Daily Telegraph's David Riccio told SEN Radio that it could be done in the next few days.
“I think that’ll happen and eventuate in the next 48-72 hours,” Riccio replied.
“I think Adam has certainly indicated, there’s an awareness with Adam that he knows it’s his last chance.
“You only get so many chances in the game, I get it, they weren’t the crimes of the century when he was at the Bulldogs.
“But, the Bulldogs were on a different path as far as trying to create a new culture for that club, I agreed with him severing ties and he and the club coming to a mutual termination there.
“Some players just don’t work at particular clubs and some do.
“All indications are that the Raiders are willing to pick up Adam at a value price.”