South Sydney Rabbitohs star fullback and five-eighth has reportedly been tabled a $2.4 million dollar offer from Rugby 360.
With more details finally being revealed about the competition in the last 48 hours, offers have started for NRL players.
It has been widely reported that Parramatta Eels and New South Wales winger Zac Lomax could have played his last game for the Parramatta Eels, while a number of other NRL players have been linked with the competition.
One of the most realistic targets may be Gray, who has burst onto the scene with the South Sydney Rabbitohs.
Caught behind Latrell Mitchell at fullback and Cody Walker at five-eighth, he could be angling to depart the Maroubra-based club either way at the end of his current deal, which expires at the end of 2026.
He has been constantly linked with R360, and now it has been reported by News Corp that a deal is on the table from the breakaway rugby union competition spanning three years.
The move could see Gray double his NRL salary, although he would have been in for a major increase in his next rugby league deal.
The entry to the competition of the Perth Bears will naturally drive salaries higher, and it would have been a fight for the Rabbitohs to retain his signature as the Bears hit the ground running with a blank cheque book.
South Sydney had been playing Gray ahead of Mitchell at fullback in the final rounds of 2025, but it’s unclear if that will continue into 2026, particularly if Gray does confirm he is leaving the foundation outfit.
The rugby union competition is set to kick-off in October next year, meaning players could see out the NRL season and their contracts if that’s the way things pan out.
South Sydney are reportedly resigned to losing the 21-year-old – either to the 15-man game or another NRL club – if the decision is purely motivated by money.