The North Queensland Cowboys are understood to be open to letting Scott Drinkwater go at the end of the 2026 NRL season if he can complete a deal with the St George Illawarra Dragons.

The Red V are clearly in the market for a new fullback, with Clint Gutherson struggling over the opening weeks of the 2026 campaign.

Set to miss the next few weeks with injury, coach Shane Flanagan may go as far as struggling to recall Gutherson, who is a club co-captain, once he is fit, if the out-of-favour Tyrell Sloan impresses over the next couple of weeks in his place.

The bigger question, with Sloan also off-contract and unlikely to be extended next year, is where the Dragons turn for a new number one.

They had Dolphins fullback Trai Fuller as a possibility to join the club immediately, but that was shut down with the Dolphins backup wanting an extra year on his deal - something the Dragons were unwilling to offer because of what else is currently in play.

The Dragons have long been rumoured to be in talks with Jahream Bula, who has an unactivated option on his deal for next year, but it has also emerged that Scott Drinkwater is a possibility.

The Sydney Morning Herald is now reporting that the Cowboys' fullback, who is contracted through to the end of 2027, is the priority for the Dragons.

It's understood the Cowboys will not stand in his way if he wants to leave early, although will also not push for him to leave the club before the end of his current deal.

The Dragons would make a major play for Drinkwater, who is one of the best attacking threats in the competition and has been the best player for the Cowboys for several years.

They would have to move substantial money to ascertain his services, but it's understood negotiations are underway over a potential move at the end of the campaign.

It's also understood that the future of Shane Flanagan - who is walking a tightrope at the Dragons - is a sticking point.

Drinkwater is not believed to have any other clubs chasing his signature immediately, while the Dragons would only be in the mix for Bula up against other clubs, including the Tigers, who are desperate to retain a large part of the club's future.