NRL Rd 3 - Broncos v Cowboys
BRISBANE, AUSTRALIA - MARCH 27: Jeremiah Nanai of the Cowboys (L) is tackled by Herbie Farnworth of the Broncos during the round three NRL match between the Brisbane Broncos and the North Queensland Cowboys at Suncorp Stadium, on March 27, 2022, in Brisbane, Australia. (Photo by Dan Peled/Getty Images)

The North Queensland Cowboys are set to have a major fight on their hands to retain young second rower Jeremiah Nanai.

While Todd Payten expressed that he was "cautiously optimistic" following the Queensland derby on the weekend, in which Nanai scored a hat-trick as he inspired the Cowboys to a 36 points to 12 victory, his value has risen yet again.

Nanai, who is just seven games into his career, has started the 2022 season with major improvements on the end of last season.

Playing alongside another youngster Tom Gilbert on the edge, the duo have knocked Heilum Luki out of the starting side, and Ben Condon out of the team altogether.

North Queensland's start to the season - seeing them win two of their first three after a dour opening-round loss to the Canterbury Bulldogs - has been well above expectation, and plenty of credit has gone the way of the 19-year-old second rower, who is also in an eligibility fight between Queensland and New Zealand when it comes to representative football.

According to News Corp up to six clubs have expressed interest in Nanai. The Wests Tigers have been noted as interested for some weeks, however, it's now being reported that both the Dolphins and Newcastle Knights have expressed interest in the star, among other clubs.

His manager Sam Ayoub told the publication that "a number of clubs" have made contact, while also confirming earlier reports that Nanai has been waiting to negotiate on a new deal.

“It was a brilliant performance from Jeremiah and there’s no shortage of interest in him,” Ayoub said.

“I don’t want to speculate on figures but certainly his value has increased since the start of the season and a number of clubs have been in touch making it clear they would like to talk to Jeremiah.

“The Cowboys tabled an offer last year to extend Jeremiah but at that stage I didn’t want him to worry about contracts - the focus was purely on football.

“I indicated to the Cowboys that we wanted to wait until around rounds four to six to begin talks and now that the Broncos derby is out of the way, we will progress things in the coming weeks.”

It's understood he could command a price tag of around $600,000 per year over three years on his next deal, and it's not clear if the Cowboys will be able to match that given the enormous expenditure they already have on the books.

Jason Taumalolo is on around $1 million per season on a long term deal, Chad Townsend was signed on big money, Valentine Holmes is on considerable coin and Luciano Leilua will arrive at the club next year on a similarly big deal.

Add that to the fact they need to find money for an upgrade to Tom Gilbert at the end of this season, and Hamiso Tabuai-Fidow at the end of next season, and there is a considerable headache for Todd Payten and his recruitment staff.

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The Cowboys will likely be aided by the dropping of Jordan McLean's contract, although it's unclear if the club will sign him or not at the end of this season.

Regardless of that, Payten said on Sunday evening following the win over the Broncos that he was confident the club would retain Nanai.

“We have had conversations with his management and his management have asked us to hold off until Round 6 and we are just fulfilling their wishes,” Payten told reporters.

“I’m cautiously optimistic about us keeping him.

“I know that this is the right club for him."