Brisbane fullback Selwyn Cobbo is understood to be nearing a new $2 million extension with the Broncos, turning his back on reported interest from NRL expansion side the Dolphins.

The Redcliffe-based club have been linked as a leading suitor for Cobbo's services, with several other NRL rivals also circling the teenager, who comes off-contract at the end of next year.

Across just 16 senior appearances at Red Hill, Cobbo has shown promising glimpses for the future, recording two tries and nine tackle breaks in his latest outing in his side's win over the Rabbitohs in Round 9.

The Cherbourg product is among the Broncos' young nucleus hopeful of steering the club back into premiership contention in the coming seasons, with senior coach Kevin Walters having looked to lock down his best emerging names since returning to Brisbane.

Now, according to News Corp, the Broncos are on the verge of securing Cobbo's signature on a two-year extension - keeping the speedy back at the club until the end of the 2025 season.

The deal is set to see Cobbo earn $2 million until the end of 2025 and is likely to be confirmed by the club in the next month, taking Cobbo's name away from the open market that opens in November.

Walters will have the dilemma of finding Cobbo's most fitting position for the years to come, with the second-year Broncos having flourished in a wider role to start his career.

While a switch to fullback could be on the cards for Cobbo further down the road, his coach was more than satisfied with his current duties on the wing.

“Not at the moment,” Walters said of a switch to fullback for the 19-year-old.

“We like the combination that Kotoni and Selwyn are performing on that right edge.

“Long term Selwyn could move to fullback for us, but right now he is very comfortable on that right wing.”

Cobbo will be hoping to add to his impressive run of form next week when the Broncos welcome the rest of the competition to Suncorp Stadium for Magic Round, where Brisbane will face Manly on Friday night.