Siebold was yesterday linked with a move to coach Brisbane Broncos next season and now looks likely to replace Bennett before he moves south to Sydney.

A statement from the Rabbitohs today hailed Bennett as "one of the greatest coaches of all time" after coaching more 800 first grade games in the NRL and NSWRL competitions since 1987 and more than 500 victories.

Bennett has won seven premierships at two different clubs and has guided international teams to Test and World Cup success.

Bennett is the current coach of the England Rugby League team where he coaches Rabbitohs players Sam Burgess, Thomas Burgess and George Burgess.

He has also coached Australia and was an assistant coach with New Zealand, won five State of Origin series with Queensland and was the inaugural Head Coach of the NRL All Stars.

He's a four-time Coach of the Year  and has coached more games at club level than any coach in history, more seasons than anyone else and has won more Grand Finals than anyone else.

He is also the only current Head Coach of an NRL team to have won Premierships at more than one NRL Club, six with the Broncos and one with the Dragons.

South Sydney today said Siebold's reluctance to commit to the club made them look elsewhere.

"Anthony has done a great job at our club over the past two years however his hesitance to extend his contract with us, an offer which has been on the table since June, led the club to explore other options," said Rabbitohs General Manager of Football Shane Richardson.

“Wayne is one of the best, if the not the best, rugby league coaches of all time and we are excited to see what he can bring to our club.

“His football record is second-to-none and his reputation as a leader is also of the highest order.

“Here he will have the opportunity to work with some of the best senior and up-and-coming talent in the game, which from our discussions over the past few weeks I know he is excited about.

“He will also have the opportunity to work as a head coach with a strong coaching, football and administration staff around him that are all pushing in the one direction, The Rabbitoh Way.

“We’re looking forward to Wayne becoming a Rabbitoh in 12 months’ time and we wish him the best of luck with the England team in their current Test series with the Kiwis.

“Now we can look forward to Season 2019 with the aim of improving our performance on the 2018 season.”

Rabbitohs Chairman Nicholas Pappas added: “The Board of the Rabbitohs is delighted to be welcoming Wayne Bennett for the 2020 and 2021 seasons.

“We believe we have a wonderful squad of players and with the coaching experience and history of success that Wayne brings with him, we are confident that we have a team worthy of premiership success.”

Bennett said he was looking forward to joining Souths in 2020.

“I’m truly humbled by the opportunity to coach the South Sydney Rabbitohs,” Bennett said.

“Souths is one of the iconic clubs in the game. I didn’t think I would get this opportunity, but that opportunity has now come for 2020 and 2021.

“I’m really grateful for the chance to be part of the club and I’m looking forward to being part of The Rabbitoh Way.

“I’ve always respected South Sydney and its 30,000 ,embers, I’m really looking forward to being part of the Rabbitohs family, and I can assure the members that I will do my very best for the club.”