The PNG Chiefs plan to make a proposal of up to $1.5 million annually to secure star halfback Nathan Cleary's services.
Cleary's contract expires at the end of 2027, and his name has been prominently featured in media this year as the Panthers strive to keep him before he enters the open market.
Since the beginning of this year, Cleary has hinted at the possibility of free agency for the first time in his career, though he might not necessarily want to leave the Panthers.
With his father Ivan set to step down at the end of 2027, there are uncertainties about whether Cleary would explore playing in a different system, making 2028 a potentially opportune time for a change.
The Panthers are encountering a significant salary cap issue, especially after confirming that winger Brian To'o will join the PNG Chiefs after 2027.
This departure does create some financial room, but several players, including re-signed Thomas Jenkins, Casey McLean, and Paul Alamoti, are in line for salary increases.
Liam Martin is reportedly seeking a deal worth seven figures, Isaiah Papal'i is nearing re-signing, and there are claims that Isaah Yeo has also reached an agreement regarding his future.
Consequently, any savings from To'o's exit are quickly getting absorbed, making it significantly more challenging for Penrith to keep Cleary, with News Corp announcing that a $1.5 million annual offer is being formulated.
This proposed deal, which would not be subject to tax, essentially positions the Chiefs and potentially other NRL teams in a financially advantageous stance to secure Cleary's commitment.