Dolphins forward Ray Stone is set to join the Penrith Panthers for 2027 on a one-year deal.

There is no secret the Dolphins salary cap is stretched to breaking point, with the club still having a host of players they need to do deals with either for 2026 or 2027.

Stone is among the players off-contract at the end of this year, but hardly the highest priority, with the club in negotiations with rising star Brian Pouniu and Kodi Nikorima who Kristian Woolf has confirmed he wants to retain, while Brad Schneider is also off-contract.

It's the end of next year where the Dolphins have bigger problems though, with the list including Jack Bostock, Selwyn Cobbo, Herbie Farnworth, Kulikeu Finefeuiaki, Tom Flegler, Connelly Lemuelu and Hamiso Tabuai-Fidow among others.

BRISBANE, AUSTRALIA - JULY 17: Hamiso Tabuai-Fidow of the Dolphins breaks away from the defence during the round 20 NRL match between Dolphins and North Queensland Cowboys at Suncorp Stadium, on July 17, 2025, in Brisbane, Australia. (Photo by Bradley Kanaris/Getty Images)
BRISBANE, AUSTRALIA - JULY 17: Hamiso Tabuai-Fidow of the Dolphins breaks away from the defence during the round 20 NRL match between Dolphins and North Queensland Cowboys at Suncorp Stadium, on July 17, 2025, in Brisbane, Australia. (Photo by Bradley Kanaris/Getty Images)

Stone was seemingly unlikely to be retained, despite playing in 14 games - all off the interchange bench - so far this year.

His minutes were on the wane, although have picked up again during the Origin period, with his reputation as a hard-nosed middle forward who provides plenty of impact and consistency now catching the attention of the Panthers, who are currently flying at the top of the table.

Wide World of Sports are reporting Stone's move to the Panthers will only be for a year, although at 29 years of age, the forward who can also play at hooker is unlikely to be finished there as an NRL player.

It's widely understood that like the Dolphins, the Panthers are struggling on the salary cap front, particularly for 2028, but also as they look to fill the final spots in their squad for 2027.

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The Panthers will lose Liam Henry out of their engine room at the end of this year, while Scott Sorensen who can play on the edge or in the middle has also confirmed his departure, with both players heading to the Perth Bears.

That leaves the Panthers, who are yet to sign anyone to their squad for next year, needing new options, but not ones who will break the bank.

As it stands, the men from the foot of the mountains are yet to make calls on Tom Ale, Jack Cole, Kalani Going or Freddy Lussick for next year, but it's at the end of 2027 where things will stretch, with Paul Alamoti, Nathan Cleary, Mitch Kenny, Moses Leota, Liam Martin, Isaiah Papali'i, Blaize Talagi, Brian To'o and Isaah Yeo the currently off-contract players who feature regularly as part of their successful first-grade side.

New South Wales Blues Training Session
KINGSCLIFF, AUSTRALIA - JULY 06: Nathan Cleary and Brian To'o compete for the ball during a New South Wales Blues State of Origin training session at Les Burger Fields on July 06, 2022 in Kingscliff, Australia. (Photo by Bradley Kanaris/Getty Images)

Penrith's middle for next year will likely be Leota, Smith and Yeo, with Luron Patea and Billy Phillips the options contracted for the bench, meaning Stone would likely go straight into contention for a spot should he make the move south, particularly with Leota potentially set to leave the outfit.

Leota was given permission recently to negotiate his future away from the Panthers, although it's unclear whether he will actually do so, and if so, whether he will at the end of 2026 or 2027.

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