The St George Illawarra Dragons have reportedly put a formal offer on the table in front of Penrith Panthers' young gun Sunia Turuva.

The joint-venture's interest in the Penrith star, who won the Dally M rookie of the year award last season, was first reported some weeks ago.

It was understood at that time the Dragons were looking at Turuva as the potential replacement for Zac Lomax on the wing - who has since been released at the end of 2024 - with the ability to also challenge Tyrell Sloan for the fullback jersey.

That is still believed to be the case, with Turuva likely to be in the mix for the number one jumper if he was to join the Dragons, according to a report in The Sydney Morning Herald.

It's understood the Fijian representative wants to play at the back if he leaves the foot of the mountains, although remaining part of Ivan Cleary's side is still his preference.

Despite that, Turuva has desire to be able to financially provide for his parents, and Penrith are understood to have capped their offer to the youngster at around $350,000 per year.

It's understood the Dragons have offered Turuva a three-year contract however, with the report suggesting that the Panthers will have no ability to match the offer from the Red V.

The Newcastle Knights are also said to be interested, however won't be able to play Turuva at fullback given Kalyn Ponga's status at the club, or likely match the financial power of the Dragons who have plenty of cash to play with as Shane Flanagan looks to rebuild the squad who have played finals just twice since Wayne Bennett left at the end of 2011.

Penrith's ability to increase any offer for Turuva has been hamstrung by the fact they recently re-signed Izack Tago and Taylan May, both on upgraded deals.

Penrith have confirmed they still want to retain Turuva, and are planning to meet with his management this week according to the report.

Turuva has been able to negotiate with rival clubs since November 1, but it's understood he only went to the market in the last month.