Penrith Panthers assistant coach Cameron Ciraldo is reportedly set to continue his time at the foot of the mountains by signing a 12-month extension.

Ciraldo has been the most hotly-chased coach in NRL circles as the merry-go-round has hit full speed following the departures of Trent Barrett, Michael Maguire and Nathan Brown from the Canterbury Bulldogs, Wests Tigers and New Zealand Warriors respectively.

It has been widely reported that the Bulldogs and Tigers are the two clubs most likely to land the services of Ciraldo, although the joint venture club released a statement on Saturday evening confirming Ciraldo has informed them he "isn't in a position" to take over as head coach.

It leaves the Bulldogs as the club chasing Ciraldo, with the Warriors going in a different direction, however, it's understood Ciraldo won't leave Penrith for anything other than the perfect role.

That means he may remain at Penrith for the time being, with Craig Bellamy uncertain on how long he will keep coaching for in Melbourne, and other jobs likely to be on the horizon including the Newcastle Knights, Gold Coast Titans and St George Illawarra Dragons.

According to The Daily Telegraph, Ciraldo's next year in Penrith colours could be announced as soon as next week, with the assistant coach and club CEO Brian Fletcher to meet for lunch on Thursday.