Latrell Mitchell has said he would have regretted signing with the Wests Tigers after he knocked back a $1milllion offer to sign for the South Sydney Rabbitohs.

South Sydney ended months of speculation and announced the capture of Latrell Mitchell from bitter rivals the Sydney Roosters on Monday.

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The NSW Origin and Kangaroos centre put pen to paper on a one-year deal, with a second year option in the Bunnies’ favour.

Round 19

Mitchell is likely to play fullback for the Bunnies, following interest from the North Queensland Cowboys, the Gold Coast Titans and the Wests Tigers.

Mitchell was offered a $1 million deal by the Tigers and turned down the offer of that cash in each year of a four-year contract.

He then signed for South Sydney for almost half that money, explaining as he was unveiled why he snubbed Michael Maguire’s proposal.

“I just wanted to hold off and explore everything before I came to a decision,” Mitchell said.

Latrell Mitchell of the Roosters makes a break against the Tigers Source: AAP

“I knew if I would’ve jumped straight into that Tigers deal I probably would’ve regretted it.

“And I understand where the money was at, but it's’s not all about the money everyone made it out to be.

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“There’s goals in my life that I want to set that money brings, but then again you’ve got to set that up.

“For the next 12 months im here I just want to keep striving for that and play some good footy.

Latrell Mitchell signs with the Rabbitohs, flanked by his agent Matt Rose (back left). Source: FOX SPORTS

Mitchell said the Rabbitohs’ respect of his family was a key factor in his decision.

“The family side of it, from Cody [Walker] and Jimmy [Roberts] and the way they treat their families was the biggest thing I looked at,” Mitchell added.

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“It’s the longest holiday I’ve had.

“I didn’t want to rush anything, I didn’t want to rush a decision I’d regret.

“But I’d say this is the best decision I’ve made in my career by far. I’ve seen the success he’s [Wayne Bennett] had in his career, and I wanted to see where he could take my footy – as a coach.”