A new NRL team is expected to be revealed this week.

The Redcliffe Dolphins will reportedly be announced as the NRL’s 17th team soon.

According to a News Corp report, the Dolphins are the preferred option, beating out the Firehawks and Jets to win the expansion race and will enter the competition in 2023.

It comes after the NRL’s Expansion Assessment Committee met last week to analyze all three bids.

Departing South Sydney Rabbitohs coach Wayne Bennett is the man tipped to lead the club in 2023.

The Dolphins will be the NRL’s first expansion team since 2007 when the Gold Coast Titans joined the competition.

Fox Sports reports the organization boasts $70 million worth of assets and has $20 million in cash reserves, putting it in the position to be one of the richest clubs in the NRL.

[Source:Fox Sports]