Penrith Panthers coach Matthew Elliot has this morning been told he will not coach the club beyond the 2011 season.

The Penrith club issued a statement at 10.14am today to announce Elliot, who was off contract at the end of the season, has been informed by chairman Don Feltis and chief executive Michael Leary the club will not offer him a new deal.

The club is now on the hunt for a new coach despite Elliot leading the club to finish second in the minor premiership race in 2010. The club has not announced if they already have a coach in mind.

There have been rumours that Ricky Stuart is a target for the Penrith club. Other coaches without contracts in 2012 are former Parramatta Eels coach Daniel Anderson and current Newcastle Knights coach Rick Stone. It’s also been rumoured that Nathan Brown is looking to make a return to the NRL.