Sailor began his career playing rugby league for the Brisbane Broncos before switching codes in 2001.
"I've been friends with Nathan Brown and Mark Gasnier for a long time and they've given me great support over a difficult period," Sailor told Sydney's Daily Telegraph.
"Brownie has been a loyal supporter and has offered me a great chance to finish my career on the right note.
"He obviously thinks I've got something to offer, maybe in the back-row or off the bench."
He continued: "I'm not doing this to earn big money. It's more about the opportunity.
"The club feels I can help some of their younger players, on and off the field, from the lessons I've learned.
"That's what I'm really looking forward to, plus the challenge of trying to win a premiership.
"It's a huge challenge and hopefully I can finalise a deal with the club by the weekend or early next week."
The news has not gone down well with all of St George's fans, with some predicting that up-and-coming players will be cut from the roster to pay Sailor's wages.
But the 32-year-old is adamant the club must nurture the talents of its youngsters ahead of lining his own pockets.
"I can't expect to have the bargaining power that I once had," Sailor added.
"They've got a lot of really good young players they've got to look after before me."