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Roosters recruit Joseph Suaalii.

Joseph Suaalii is officially a Rooster, confirming his shift across Anzac Parade on a two-year deal that adds yet another chapter in the century-old rivalry between the foundation clubs.

One of the most protracted teen contract negotiations came to a close on Tuesday when South Sydney released Suaalii via a one-sentence statement.

He is set to join the Bondi club's pre-season training shortly after the Tricolours paid a transfer fee – believed to be worth around $50,000 – to the Rabbitohs.

The Roosters have already begun making enquiries with the NRL around potentially playing him before his 18th birthday next August.

"Joseph is a highly-talented young player, and we’re thrilled to have secured his services," Roosters recruitment manager Daniel Anderson said.

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"This is a terrific opportunity for Joseph to continue his development alongside the established players we have at the club like James Tedesco, Daniel Tupou and Joseph Manu, and we’re looking forward to watching his progress over the next few years."

The 17-year-old has been the most hyped schoolboy footballer of his generation, with South Sydney and Australian Rugby waging a big-money battle for his services for much of 2020.

His exit from Redfern was acknowledged abruptly by the club, issuing a 29-word statement on Tuesday.

"The South Sydney Rabbitohs have released Joseph Suaalii from the remaining year of his playing contract following the payment of a non-disclosed transfer fee by another NRL club," it read.

The teen fullback had been lined up as a long-term No.1 for the Rabbitohs, but will now be groomed for a similar role at Bondi as Tedesco's eventual successor.

A first grade debut in 2021 has been touted given Suaalii's undeniable talent should the ARL Commission grant an exemption for him to play before turning 18.

The Roosters submission for special dispensation would require several components proving Suaalii is physically and mentally ready to make the jump to NRL, as well as outlining welfare and study support among other things.

However, the Roosters current top-flight wing pairing of Brett Morris and Daniel Tupou points to a mid-season crack when State of Origin takes several stars out of Trent Robinson's lineup.