The Brisbane Broncos could be set to cull $5 million worth of names off their roster in the next 12 months, with Cameron Smith's name being mentioned as a potential option to fill some of the void.

The Broncos sit 15th in the league as they prepare to face Canberra this weekend, with a majority of their highest earners underperforming in 2020 so far.

According to News Corp, up to 14 contracted players could be involved in a club wide purge across the next two seasons, with Tevita Pangai Jr headlining a list of names that are facing an impending release from Red Hill.

With key names in David Fifita and Jack Bird on the way out and Darius Boyd set for retirement, the Broncos will have plenty of wiggle-room to splurge for their 2021 roster.

Among a host of names currently performing under their payload includes Anthony Milford, drawing in $1 million-per-season, while captain Alex Glenn and Brodie Croft could also be shown the exit.

Andrew McCullough could join them in leaving the club if he is to return to Brisbane from Newcastle.

Broncos chairman Karl Morris revealed a major shake-up is on its way to Red Hill.

“We have some room in the salary cap,” Morris said.

“We can make some decisions moving forward.

“We will look at our roster absolutely, there is some real opportunity to fill some of the gaps that we think need filling in that roster.”

Former captain Justin Hodges believes the obvious void in leadership is a major problem for the Broncos, with Cameron Smith's a potential suitor for their woes.

“They need leadership – that’s the biggest thing we’re lacking at the moment,” he said.

“We’ve got young guys in there as captains (Pat Carrigan), which is fine, but you need strong leaders and voices. In times like this you need a voice to pull them in line.

“Everyone has been talking about Smithy and he is a good player to have, even for one year, to help the younger players understand where they’re at in the game. We miss that leadership and strong voice in the group.

“There’s a lot of talented players there but I’d be starting with bringing some people in with good leadership qualities who have had success. The players can feed off that.”

Coach Anthony Seibold has had to move around plenty of magnets in 2020, with Hodges believing a consistent and quality spine may just turn things around.

“If you look around the league you need a good forward pack and spine,” he said.

“The top teams are all strong in those areas. They’ve got good spines to create opportunities for the other players around them.

“We have a good young forward pack, even though they’re (Fifita and Pangai) starting to leave.

“You need a couple of good senior players in the spine and work your way out from that. The forward pack needs to be strong and mobile.

“We have got some fantastic players out wide like Kotoni Staggs, Xavier Coates and Herbie Farnworth.

“I’d be starting with the spine and looking at what forwards we’ve got as well.”