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Penrith Panthers have been put on notice that keeping Nathan Cleary beyond next season could become increasingly difficult if the superstar halfback reaches the open market.
Cleary is among several key figures whose contracts expire at the end of the 2027 campaign, with captain Isaah Yeo, Liam Martin, Moses Leota and Brian To’o also approaching the final year of their current deals. The club is now preparing for a crucial period of negotiations as it looks to preserve the core of its premiership-winning squad.
The biggest threat is expected to come from the PNG Chiefs, who are reportedly eager to reunite Cleary with former Panthers playmaker Jarome Luai. Having already secured Luai’s signature, the expansion club is believed to be willing to table an extraordinary financial package, aided by the ability to offer tax-free contracts and lucrative third-party agreements.
Speaking on NRL 360, Braith Anasta suggested Penrith cannot afford to let negotiations drag into free agency.
“Can you see Nathan going to market here? Because if he goes to market, I think it means he’ll leave.”
Anasta believes Cleary would attract offers far beyond what Penrith can comfortably match.
“He’ll get a minimum of $1.5 million a year tax free. Minimum. So my point is, if the Panthers can’t re-sign him before November 1, he’ll have all these offers who are way bigger.”
He added:
“If he gets to November 1, I reckon he’s gone. Why would you go to market if you’re not going to leave?”
Code Sports journalist Brent Read echoed that view, claiming the Chiefs would spare no expense in their pursuit.
“PNG will throw so much money at him. He’ll be on more than God.”
Despite the speculation, Penrith remain optimistic about retaining the majority of their representative stars. With the State of Origin series now complete, the club is expected to prioritise contract talks with Cleary, Yeo and Martin.
Read revealed that the Panthers are now focusing their attention on securing those cornerstone players, while fellow journalist Michael Carayannis said confidence inside the club has grown significantly in recent months.
According to Carayannis, Penrith were far less certain about keeping their stars two months ago, but the mood has shifted and there is now genuine belief that most of the club’s biggest names can be retained.
Even so, salary cap realities mean sacrifices may be unavoidable. Among the off-contract players, Brian To’o is widely viewed as the most likely departure.
Carayannis believes the representative winger faces the longest odds of remaining at Penrith beyond his current deal, with Read agreeing that To’o appears the most logical casualty should the club be forced to make difficult roster decisions.
With rival clubs preparing lucrative offers and November 1 looming as a pivotal date, the Panthers face one of the most significant retention battles of their recent dynasty, knowing that the future of Cleary and several other premiership stars could shape the club for years to come.
