Well for one, he is tied up for an extra year. Doesnt come off contract unit the end of 2019. IMO, that is a perfect situation for both parties, provided both are willing to act when the time in necessary, which is looking like the back end of this year. There's actually no need to panic.
I havent put forward a dollar amount because I dont know what the going rate is for a fullback, considering the number of quality fullbacks running around these days. If we were to extend this year then I would say a 3-4 year deal averaging around the $500-550k mark would lock him in without a second thought. Keeping in mind that Ponga is on $600k (thereabouts) for the next 3 years too.
What I dont want is to end up with another Mitch Rein, where we've got a lemon locked into a big dollar long term contract because he failed to develop past his first breakout year.
Storm are not short a fullback, they have Hughes and Papenhuyzen looking at taking over from Slater, the former has been groomed for a few years (tore us a new asshole a few weeks ago, if you recall). And no, Newcastle gain little to nothing shifting their star fullback to 5/8 in order to spend huge dollars on another young fullback. If we are going down that path then any number of teams 'could' be interested, but in reality not many will because its about balance. As I said, the only ones I can see are Sharks OR Cowboys (depending on what happens with Holmes) and Titans. And Bulldogs. The rest would be fairly comfortable with their fullback options and wouldnt go re-arranging their long term choices to fit in a kid after 1 breakout season.