The Penrith Panthers incredible run of preliminary finals and success has continued in 2026, but they aren't quite the dynasty they once were.
After a slow start and recovery in 2025, Penrith looked to be the best team for much of 2026, before falling to a stunning preliminary final loss at the hands of the Newcastle Knights.
Of course, the big what if will be around Nathan Cleary - what happens if he didn't get injured?
But ultimately, Penrith weren't good enough on that Sunday afternoon at Homebush and fell a game short of the grand final for the second year in a row, although they have now played in seven straight grand final qualifiers, being successful in the first five.
The men from the foot of the mountains have maybe the biggest danger rating on the run to November 1, with a host of key players still off-contract at the end of 2027, and able to negotiate elsewhere from November 1.
Here is the state of play for Ivan Cleary and his recruitment staff ahead of November 1, with added significance given Cleary is about to enter his final season as head coach.
Current 2028 squad
Paul Alamoti, Zakauri Clarke, Jack Cogger, Jaxen Edgar, Dylan Edwards, Luke Garner, Thomas Jenkins, Mitch Kenny, Casey McLean, Billy Phillips, Lindsay Smith, Izack Tago
Off-contract at the end of 2027
Nathan Cleary, Sione Fonua, Moses Leota, Liam Martin, Isaiah Papali'i, Luron Patea, Billy Scott, Blaize Talagi, Isaah Yeo
Current 2028 best 19
1. Dylan Edwards
2. Paul Alamoti
3. Casey McLean
4. Izack Tago
5. Thomas Jenkins
6. No player signed
7. Jack Cogger
8. Lindsay Smith
9. Mitch Kenny
10. No player signed
11. Luke Garner
12. Zakauri Clarke
13. Billy Phillips
Interchange
14. Jaxen Edgar
15. No player signed
16. No player signed
17. No player signed
18. No player signed
19. No player signed
The Panthers recruitment strategy will ultimately be shaped by what they are able to retain.
It's not a mystery that the salary cap is extremely tight, although that is only because they are currently trying to retain Yeo, Cleary, and Martin among others.
They have had some recent wins in the contract space, led by Casey McLean, but with a small squad for 2028 as it stands, the Panthers have a mountain of work to do which will define the way the club travels over the coming years.
Even if all the re-signings come off, it's clear they need more in the middle third after being beaten there at times this year, as well as having the unreplaced departures of Liam Henry and Scott Sorensen to deal with at the end of 2027.
Beyond that, a five-eighth is also likely on the radar given the looming departure of Blaize Talagi, who has already been linked to the Parramatta Eels.
Option 3: Jack Howarth (Melbourne Storm)
The Panthers may be on the lookout for a centre as 2028 approaches, with Izack Tago seemingly out of favour at the foot of the mountians.
He is contracted there, but has been linked with a departure more than once in recent months.
While Tago could also transition to the second-row, it's clear the Panthers will be on the lookout for a player like Howarth.
Enormous upside, enormous potential, and versatility given he can also play in the second-row if need be.
