The Bulldogs had been linked with exciting fullback Bula, who has not yet triggered contract clauses to remain at Wests Tigers so is effectively a free agent for 2027.
As recently as Sunday, Canterbury general manager of football Phil Gould raised eyebrows heaping praise on Bula in commentary for the Tigers' defeat of Newcastle.
Gould had lavished similar praise on Lachlan Galvin, also represented by manager Isaac Moses, before the Bulldogs signed Bula's former teammate in mid-2025.
But on Wednesday, the Dogs threw their support behind Tracey with a contract that ties the 29-year-old to the club until the end of the 2028 season.
Tracey had been off contract beyond 2026 but started the year in great form, making the try-saving tackle that sealed Canterbury's round-three defeat of Canberra.
Only reigning Dally M medallist James Tedesco averages more run metres per game this season than Tracey's 202.
A hardworking fullback in the Dylan Edwards mould, Tracey joined the Bulldogs in 2024 for the second season of Cameron Ciraldo's coaching tenure and played in both finals campaigns since.
He made his 100th NRL appearance last season.
"I'm very excited about extending my time at the Bulldogs," Tracey said.
"My game has really developed over the last couple of years and I credit 'Ciro' and the entire coaching staff for that.
"We're building something special here and I can't wait to continue on this journey with my teammates."
The news comes as St George Illawarra, the other rival club with whom Bula had been linked, consider making a move for North Queensland fullback Scott Drinkwater.
Drinkwater is in similarly hot form but was given permission to test the market as the Cowboys look to prioritise younger prospect Jaxon Purdue.
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