The Redcliffe Dolphins have won the bid to become the second team in Brisbane with reports the NRL will unveil them as the 17th club this week.
It follows a meeting between the NRL's Expansion Assessment Committee late last week where bids from the Dolphins, Firehawks and Jets were assessed for the final time.
According to multiple reports, it was there the committee settled on the Dolphins, who have remained the favourite to win the 17th license throughout given their financial muscle compared to the other two bids.
With around $70 million in assets and cash reserves in the vicinity of $20 million, the Dolphins will be one of the richest teams in the competition, when they enter in 2023.
Channel Nine reporter Ben Dobbin said the NRL will make an announcement in the coming days awarding the Dolphins as the new expansion team.
Breaking News - The Dolphins bid is officially the preferred candidate for the 17 th NRL franchise.They have starved off the Firehawkes and Brisbane jets bids with a official announcement in the coming days @TripleM_NRL @9NewsQueensland @RushHourBris
— Ben Dobbin (@MyMateDobbo) October 11, 2021
ARLC chairman Peter V'landys has been firm throughout expansion discussions that the new team needs to be capable of standing on their own two feet financially.
The NRL is eager to avoid similar bailouts that were handed to the Gold Coast Titans after they were introduced to the competition in 2007.
The Dolphins will effectively have 12 months to assemble a football department in time for the 2023 pre-season, which will get underway in November next year.
It's widely expected Wayne Bennett will coach the new side, having put his hand up to take on the role several times this year.
