The Newcastle Knights have become the first NRL team to rule out a move for Melbourne Storm playmaker Jonah Pezet, whose long-term future remains in doubt following Jahrome Hughes' official re-signing.

Touted as the future successor of Cameron Munster and Jahrome Hughes in the Storm's halves, Pezet is contracted at the Storm until the end of 2029 but is now a free agent due to a clause in his deal.

Due to Hughes extending his stay in Melbourne, Pezet, who is rated as one of the best young halves in the game of rugby league, is now able to test the open market, allowing him to talk with rival teams over a possible move.

A former junior State of Origin representative, he won't find a shortage of suitors, but one team has decided not to make a play for the talented playmaker.

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According to The Newcastle Herald's Barry Toohey, the Knights won't be one of the clubs that will chase the services of the Melbourne Storm playmaker if he decides to shop himself around to rival teams once again.

Previously pursuing Pezet, the Knights were once seen as the favourites to land the youngster's signature. Instead, they have signed Dylan Brown and Matthew Hunter over the past few months from the Parramatta Eels.

“My understanding with Jonah Pezet is he loves Melbourne and doesn't want to leave Melbourne,” The Daily Telegraph's Brent Read told Triple M Breakfast.

“But obviously with Jahrome signing a long-term deal there, he's got that option to leave.

“I wouldn't be surprised if Jonah goes on loan next year to a club just for 12 months, just to wait to see what happens with Cameron Munster.

“Because there's obviously those whispers about Cam Munster and Perth. If Cam Munster leaves, Jonah and Jahrome Hughes would be their long-term halves.

“I think there's some clubs, potentially, who could do with Jonah Pezet for at least 12 months next year.

“That's what I see happening with Jonah. I reckon Braith will have those talks with the Storm in the next week or so, and they'll come to some form of agreement where maybe Jonah's allowed to go on loan next year for 12 months."