The Newcastle Knights could be in danger of losing Jermaine McEwen as they attempt to balance their salary cap and roster for the years to come.

The boom youngster has been excellent for the Knights since bursting onto the scene last year.

Playing 17 games during his rookie season, McEwen has once again secured a spot in the Knights' second-row with more clarity this year following the loss of Englishman Kai Pearce-Paul, who is turning out for the Wests Tigers.

The rising star is off-contract at the end of 2027, and while he can't negotiate with rivals until November 1, it's unclear at this stage whether an offer from the Knights before then would entice him to stay.

The Sydney Morning Herald have reported multiple rival clubs around the competition are keeping tabs on the situation, with McEwen likely to receive a substantial upgrade on his deal next time he does negotiate it.

As it stands, the Knights have outlayed plenty of money for a number of top end players. Big deals for Dylan Brown and Kalyn Ponga have put a fork in their negotiating abilities, although Ponga is also off-contract at the end of 2027 with a chance he will leave for rugby union.

McEwen, who is starting ahead of the likes of Thomas Cant and Brodie Jones under the coaching of Justin Holbrook, has been in tremendous form to start the year and his market value is rising with each performance.

The Knights will likely attempt to reorganise things to get a deal in front of McEwen, with real fears him hitting November 1 without a deal will see him leave as the PNG Chiefs prepare to enter the competition.