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A big-money move to lure Latrell Mitchell to Wests Tigers has been welcomed by Corey Thompson but he's not giving up his No.1 jersey without a fight.

Wests Tigers fullback Corey Thompson says he's up for the fight to retain his No.1 jersey if the Tigers' bid to lure Latrell Mitchell to Concord is successful.

The Tigers are reportedly preparing a $3 million, three-year deal to land Mitchell after the Sydney Roosters rescinded an $800,000 contract offer to the superstar centre.

Mitchell is apparently keen on switching to fullback if he joins the Tigers.

Thompson said the club would welcome Mitchell with "open arms" but he won't be giving up his fullback position without a fight.

"If Latrell put his mind to it he could kill it at any position but I played there last year and I'm looking forward to playing there again next year," the 29-year-old told AAP.

"I'm always ready for a good fight for a position.

"When Latrell comes he'll be a great weapon for us."

The Tigers' big-money bid for Mitchell comes following Ryan Matterson's controversial transfer from the Tigers to Parramatta.

Just a year into a $1 million three-year deal with the Tigers, Matterson's move to the Eels as well as Mitchell's falling out with the Roosters has sparked a debate about the value of NRL players' contracts.

NRL chief executive Todd Greenberg said the league was in negotiations with the Rugby League Players Association over the issue.

"We've been very forthright to the players association and the players themselves about changing some of the player contracting model," Greenberg said.

"That's been rejected by the players association.

"We're in discussions with them again about how we bring some of those changes to the fore in 2020. It's an open discussion, we've got some strong views on improving the system to change some of these things."