THE Melbourne Rebels are poised to stun an embattled rugby league by making an extraordinary offer of almost $1 million a season for Storm fullback Billy Slater.
The Daily Telegraph can reveal the new rugby union franchise will make a firm bid for the Melbourne superstar within the next 10 days.
The Rebels have also made a gigantic offer for Brisbane champion Israel Folau. His deal is also believed to be worth nearly $1 million a year.
Slater, among the top three players in rugby league, is under contract with Melbourne until the end of next season.
But with the Storm having to shed $700,000 worth of talent before next year, he could be the first to go in the wake of the club's salary cap breach.
"Slater is an athlete. He would be the ideal fullback in rugby," a source close to the Rebels said. "It is just a matter of how much the ARU wants to tip in."
Slater is a true star in Melbourne, immediately recognisable even to AFL-mad residents.
The fledgling Rebels would strike an unbelievable blow for their code by managing to steal one of league's superstars.
An offer for Folau has been tabled. It too is believed to be massive.
Folau left the Storm after 2008 for Brisbane, claiming to be homesick. But it appears he has now overcome his homesickness and is considering the massive offer to jump codes.
Folau could strike a lethal combination in the centres at the Rebels with former Wallaby captain Stirling Mortlock.
New Rebels chief executive Patrick Wilson was not revealing his clubs plans.
A Daily Telegraph analysis shows the market value of Melbourne's top five players exceeds all other clubs, except the Broncos.
The estimated value of Storm superstars Slater ($500,000), Greg Inglis ($500,000), Cameron Smith ($475,000), Cooper Cronk ($350,000) and Ryan Hoffman ($325,000) eats up a phenomenal $2.1 million of Melbourne's $4.1m salary cap allowed for their top 25 players.
The average wage of the Storm's remaining 20 players on their roster is only $100,000.
With so much depth on their roster it's easy to understand why the Storm are so far above the cap.
Brisbane's top five players - Darren Lockyer ($500,000), Folau ($475,000), Justin Hodges ($425,000), Sam Thaiday ($350,000) and Peter Wallace ($325,000) might equal the market value of their Storm counterparts.
However, the Broncos' top-shelf talent quickly drops off.
If fact, no team in the NRL matches the Storm for overall talent. The Storm will have to shed at least one star player - if not two - to come back under the salary cap for 2011.
One Storm source said: "The Rebels would love to strike now given our situation."