Nathan Cleary is reportedly set to receive a record-breaking $6 million offer from the PNG Chiefs.
The Panthers star, 28, is off contract at the end of the 2027 season and is expected to receive a host of offers from various NRL clubs if he does not re-sign with Penrith before November 1.
The Warriors and Bears have both been linked with a move for the Blues star — who proved crucial to New South Wales’ triumph in this year’s State of Origin.
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But it is the Chiefs who are understood to be in pole position to land the halfback.
According to Code Sports, they are preparing to table a $1.5m per season, four-year deal for Cleary in what would be the biggest deal in NRL history.
The offer would make Cleary the highest-paid player in the league, and leave rival clubs in a desperate situation to try and match the financial package.
Cleary is on $1.3m with the Panthers — 10.8 per cent of the club’s salary cap.
If the cap is increased to $15m, Penrith would likely be able to match the record offer, but would not be able to make his earnings tax-free as would be the case at the Chiefs.
The report claims $675,000 of his $1.5m would be taxed if he remained at the Panthers — where he won four consecutive premierships between 2020 and 2024.
It would mean a Chiefs contract would see him pocket roughly $2.7m more, along with lucrative third-party deals that could see him earn an extra $4m.
The Chiefs have already made a number of statement signings ahead of their debut season in the NRL in 2028.
Their squad so far consists of Alex Johnston, Joey Manu, Zac Lomax, Brian To’o, Jarome Luai, Matty Lees, and Connor Watson.
When asked about his future last month, Cleary said: “I still don’t know. I’m still in the process of thinking it over. I’m not sure yet.”
He went on to add: “I want to put a bit more thought into it. The last few weeks there has been a bit of a comedown from Origin, and I’ve been trying to get back into routine with the boys and get back into consistent training.
“That sort of (contract) stuff will work itself out in the background.”
Originally published as Shock Nathan Cleary offer set to make NRL history in major blow to Panthers