The Penrith Panthers are set to pull off a second major retention coup, with Nathan Cleary to agree to a new deal.

Despite fears Cleary would be poached by the tax free dollars on offer at the PNG Chiefs, it's been reported in recent times that Cleary's preference is to remain at the foot of the mountains.

It was understood before his injury suffered in Penrith's preliminary final loss that there was a chance the deal could have been done before November 1, and while that has now been delayed to the point other teams can make offers, News Corp are reporting that he will re-sign with the club on another long-term deal which, by the end, will be worth $1.7 million per season, pending the salary cap rises as expected.

Cleary will be the second major retention for the Panthers, with Isaah Yeo reportedly agreeing to terms with the club last month as well, although that deal is yet to be officially announced.

The third piece of the main puzzle for the Panthers is Liam Martin, but with the revelation Penrith will offer Moses Leota a new deal within the next week, it seems more and more likely he will depart the club.

Martin is off-contract at the end of 2027, and admitted this week from Kangaroos camp ahead of their Rugby League World Cup semi-final against Samoa that he is interested in the move, having grown up in Temora.

The fact Penrith have agreed to terms with Yeo, are set to have Cleary sign a bumper deal, and offer Leota a new contract indicates there is no chance Martin remains in place under their stretched salary cap.

Leota receiving a new offer has been confirmed by his manager Gavin Orr.

“The Panthers have said to us they will make him an offer this week,” Orr told the publication.

“His preference is to stay at Penrith, but we're looking at other clubs, too.

“We have been going through this process since June and this is the first time we can properly explore the market."

Isaiah Papali'i is the other key name off-contract alongside a host of fringe players including Luron Patea, who its said is more likely to leave than stay at Penrith, while the club are also set to let Blaize Talagi leave, potentially before the start of 2027.