It's hard to pinpoint a team who have underperformed against their expectations more than the North Queensland Cowboys in recent seasons.

They have had trips to the finals under Todd Payten, but this is a squad who should regularly be pushing for premierships.

In truth, they haven't been close for some time.

That's not to say wholesale changes are needed, but it's clear coach Payten is under plenty of pressure to turn things around if he wants to escape long-term with his job.

2027 is shaping up as the year they could potentially look to remodel a lot of what they are doing in Townsville as well.

As it stands, it's a very limited squad on contract heading into the year, and while it's headlined by some big-money deals, there is plenty of wiggle room if the Cowboys want to say goodbye to a number of players on their books currently and move in a new direction.

Current North Queensland Cowboys 2027 squad
Reuben Cotter, Tom Dearden, Robert Derby, Scott Drinkwater, Coen Hess, Zac Laybutt, Heilum Luki, Reed Mahoney, Jeremiah Nanai, Jason Taumalolo, Viliami Vailea

Off-contract at the end of 2026
John Bateman, Braidon Burns, Tom Chester, Jake Clifford, Zac Herdegen, Mason Kira, Kaiden Lahrs, Karl Lawton, Sam McIntyre, Thomas Mikaele (club option), Griffin Neame, Kai O'Donnell, Jaxson Paulo, Jaxon Purdue, Murray Taulagi

Current best 17 for 2027
1. Scott Drinkwater
2. Robert Derby
3. Zac Laybutt
4. No player signed.
5. Viliami Vailea
6. No player signed.
7. Tom Dearden
8. Reuben Cotter
9. Reed Mahoney
10. Coen Hess
11. Jeremiah Nanai
12. Heilum Luki
13. Jason Taumalolo

Interchange
14. No player signed.
15. No player signed.
16. No player signed.
17. No player signed.

NRL Rd 2 - Cowboys v Raiders

As it stands, the Cowboys have just 11 players signed heading into 2027.

Of those, it could be reasonably anticipated that Jason Taumalolo will hang up the boots at the end of the 2027 campaign.

Coen Hess may not be all that far behind him, although some will be surprised to learn he is only 29 at the time of writing, such has been the nature of his career.

The Cowboys do have a strong nucleus. The recent signing of Reed Mahoney from the Canterbury Bulldogs means they have replaced Reece Robson as he heads off to the Roosters, while Tom Dearden, Scott Drinkwater and Reuben Cotter are all already locked in for 2027.

But there are big question marks around the Cowboys.

They need more depth in the forwards, will be hoping Heilum Luki can finally string a full season together, and could need to sign a five-eighth unless they lock up Jake Clifford - even then, it's question of whether they want to. Clifford was in and out of the side throughout 2025.

Centre and wing also have question marks, so this is essentially an open slate for the Cowboys, with only a handful of players - likely led by Jaxon Purdue and Queensland State of Origin winger Murray Taulagi - desperately needing to be re-signed given their obvious talent and potential.

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Option 5: Nick Meaney (Melbourne Storm)

If the Cowboys were looking for a player who could slot into the backline wherever they have a vacancy, then Nick Meaney is the man on the market they should be throwing all their weight at.

Purdue's future, provided he is re-signed, position being up in the air means they could be looking for versatility in Townsville to suit their needs moving forward, even if they don't quite know what they are yet.

Nick Meaney has been the definition of Mr. Fix It in Melbourne.

Fullback, wing, centre, five-eighth. He has played it all, and can also add to the goal-kicking pool for the club.

Consistency has also been in Meaney's DNA - something the club have lacked - while he has learnt how to win in the successful Melbourne system.

More importantly, he wouldn't break the bank either.

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