St George Illawarra is reportedly poised for a massive financial boost with the Red V set to sign an agreement with one of Australia's richest people, Andrew 'Twiggy' Forrest, as their major club sponsor.
Media reports suggest that the billionaire is on the brink of revealing an annual $1.2 million deal for his energy company Squadron Energy to become the Dragons' back of jersey-sponsor for 2024, before upgrading to be front-of-shirt sponsor from 2025.
Forrest was valued at $33.29 billion on the Financial Review 2023 Rich List, making him second only to Gina Rinehart as Australia's most wealthy individual. The 62-year-old has invested in Australian rugby union, including backing Super Rugby franchise Western Force, but the Dragons contract would be his first move into rugby league.
St George Illawarra did not comment when approached by the Mercury on Monday, however, it's understood that there are ongoing discussions between the two parties.
The Squadron Energy reports come six months after current major sponsor St George Bank revealed that they intended to end their 40-year association with the Dragons.
St George Bank cited issues with management and poor off-field player behaviour which has culminated in sub-standard on-field performances, with the side finishing 2023 in 16th position. The Red V's agreement with St George Bank ends at the end of the 2024 season.