After unsuccessfully attempting to exercise a one-year extension clause in Fogarty's contract, Canberra Raiders reportedly offered the 31-year-old a fresh two-year deal in an attempt to stave off rival bids during the free agency period.
That hard work appears to have been unsuccessful, with Code Sports reporting on Tuesday morning that Fogarty had made up his mind on the next chapter of his career.
Fogarty will be a direct replacement for outgoing 36-year-old Daly Cherry-Evans, who earlier this year told the Manly Sea Eagles and the NRL community of his departure from Brookvale Oval at the end of this year.
Code Sports also reported that Stuart plans to continue using Fogarty as the Raiders' starting halfback for the remainder of the season as they pursue their first Premiership glory since the 1994 NSWRL season.
Stuart told SEN Radio on Tuesday afternoon that he'll be exploring the market for a long-term replacement for Fogarty rather than promoting 21-year-old Ethan Sanders into the position.
"I will go in for another experienced half because it's such a big position," Stuart said.
"I will be looking for another player that has the ability to play a couple of positions or play halfback that can help those boys (Sanders, Ethan Strange and Adam Cook) transition and develop in their early parts of their career playing NRL.”