The Sonny Bill Williams saga could be over as soon as Sunday, with the Bulldogs on the verge of accepting a reported $750,000 settlement from his French rugby union club Toulon.

Bulldogs chief executive Todd Greenberg said the club was "very close" to signing off on a deal that would see the NRL club end legal action against the rugby league star, who fled Australia for France three weeks ago only one year into his four-year contract.

The Bulldogs are believed to have verbally agreed to the settlement, but Greenberg said the club was taking a cautious approach given the dramatic saga involving Williams and his manager Khoder Nasser.

"We haven't resolved it yet, we haven't signed off on it from the Bulldogs' end," Greenberg told AAP.

"We're very close and we're hoping to have it wrapped up over the weekend.

"I think it's fair enough that we're wary with the negotiations given we're dealing with both Sonny and his manager and on previous history, we've got to make sure we dot all the Is and cross all the Ts here."

Greenberg confirmed the potential settlement was "in the vicinity" of $750,000 and said the deal was likely to be done either on Sunday or Monday.

The Bulldogs had originally sought a $2 million settlement, citing the effect Williams' departure would have on recruitment, sponsorship and attendances.

But former Labor powerbroker Graham Richardson reportedly helped broker the deal between both parties on Friday night.

Williams played in a friendly match for Toulon last week but withdrew from his side's pre-season match against Toulouse on Friday morning (Sydney time) so he would not breach a NSW Supreme Court injunction banning him from playing with another club.

Both the Bulldogs and the NRL had vowed to do everything they could to stop Williams playing anywhere else, in order protect the "sanctity of a contract" in the NRL.

Greenberg admitted a settlement was not an ideal outcome but did not believe the Bulldogs were selling out.

"We didn't want Sonny Bill to leave the club in the first place but they're the cards we've been dealt with and we've got to do the best we can and get on with it," he said.

According to a Nine Network report, there are a number of clauses in the agreement, including one which forbids Williams from playing for another NRL club for what would have been the duration of his Bulldogs contract.

It was also reported that the Bulldogs have demanded the money be paid by Monday.

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