Mitchell Pearce has reportedly agreed to a cut-price one-year contract extension with the Newcastle Knights.
Fox Sports reported the looming deal on Tuesday, with Pearce off-contract beyond this season. The deal will reportedly be finalised within the next 48 hours and announced before Friday's round one clash against the Bulldogs.
On a base salary of about $900,000 this year, with potential bonuses that can push him well past $1 million, Pearce is looking at a pay-cut of about $300,000 next season, according to Fox Sports.

Pearce was at the centre of a major pre-season controversy, losing the Knights captaincy after a 'sexting' incident involving a female staffer. His wedding was also cancelled amid the furore.
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