Bailey Simonsson's immediate departure to the Eels on a three-year deal has opened up salary cap space to accommodate Canberra junior Cotric, who still has two seasons remaining on his rich Bulldogs contract.

Salary cap officials at the NRL are expected to approve the deal on Monday or Tuesday, meaning Cotric could rejoin his old teammates by next weekend.

The Wests Tigers remain keen to lure Cotric to Concord as they desperately look to strengthen their playing stocks, but the one-time NSW Blues winger is keen to return home to be closer with his family in the capital.

As a minimum he would sign a two-year deal to rejoin the Raiders, with the Bulldogs set to foot some of his salary in 2022 and 2023.

But the Raiders are already thinking beyond the next two seasons when it comes to the 23-year-old, who never quite settled at the Bulldogs after shoulder and toe injuries reduced him to just 14 matches in 2021.

His three-try return was well below the strike rate he forged over four seasons in the capital, where he crossed 46 times in 93 games.

Cotric has the potential to be a genuine backline leader for the next decade at the Raiders as a highly-respected clubman and fan favourite.

In effectively switching out Simonsson for Cotric, the Raiders also immediately strengthen out wide with the latter a better finisher who also regularly breaks tackles when carting the ball out of his own end.

The Valley Dragons junior should also bring much-needed starch to a backline that struggled to defend for long periods in 2021.

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As the Simonsson deal was being done on Thursday, the Raiders learned of the news Josh Hodgson had found another club for 2023.

The veteran Englishman will link up with Simonsson at the Eels after seeing out the last year of his lucrative Raiders contract in 2022 - his eighth season in the capital since moving over from England.

Hodgson will help cover the loss of hooker Reed Mahoney, who will leave Parramatta at the end of next season to join the Bulldogs.

Cotric's departure from Belmore will help the Bulldogs alleviate some of the salary cap pressure they've accrued in recent years, meaning they can fit in Mahoney and highly-rated Penrith back rower Viliame Kikau from 2023 and beyond.

The Hodgson deal wasn't directly linked to Simonsson or Cotric, but was nevertheless linked given the three clubs involved.

Once Cotric walks back through the door at Raiders headquarters in Braddon, chief executive Don Furner and his recruiting staff should pop a bottle of champagne and celebrate a superb piece of business.

After a year beset by poor performances and off-field flare-ups, it will ensure the Green Machine finishes 2021 in a position to make a serious charge at next year's top eight.

Jamal Fogarty has joined from the Gold Coast to fill the breach at halfback left by English international George Williams.

Talented back-rower Adam Elliott has been given a one-year NRL lifeline and is desperate to repay coach Ricky Stuart by playing his best football.

Young prop Peter Hola bolsters the forward pack, and Cotric's return would really ice the cake.

Swapping out Simonsson for Cotric still leaves Stuart with one more spot to fill in his 30-man NRL roster, and the club is happy to be patient before filling that hole.

And let's not forget the internal excitement coursing through the club, with the development of Harley Smith-Shields, Matt Timoko, Semi Valemei and speedster Xavier Savage who are all showing promise as backline stars of the future.

Bring on 2022.

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