Penrith Panthers star fullback Dylan Edwards has reportedly been offered an enormous extension by the club that could tie him down until the end of 2027.

Edwards is off-contract at the end of 2024 and would be able to negotiate with rival clubs from November 1 if he wished to leave the foot of the mountains.

That said, Edwards is a local junior and has made no secret of his desire to extend his time in a squad that has won back-to-back premierships.

A key cog in Ivan Cleary's system for the Panthers, Edwards is well and truly in the State of Origin conversation for next season, with James Tedesco's representative career seemingly coming to its conclusion. That comes after Edwards was part of the reserves list for Mal Meninga's Australian side at last year's Rugby League World Cup.

While the Panthers are believed to have salary cap limitations with big money already invested into a number of players including Nathan Cleary and Isaah Yeo who have both extended on long-term deals in the last 12 months, The Sydney Morning Herald has reported that Edwards has been offered about $850,000 per season on a three-year extension.

It would see him stay at Penrith until at least the end of 2027.

$850,000 per season could even be viewed as well under market value for Edwards, who has quickly become one of the game's most important custodians.

Regularly clearing 200 running metres, he slots into the Penrith attack with ease and organises the defence from the back with the experience of a player well beyond his actual career.

The two-time premiership winner is joined off-contract at the end of next season by Jarome Luai, who could test his value on the market come November 1, with negotiations between the five-eighth and the club believed to not yet be underway.

The Panthers, in addition to signing Cleary and Yeo, have also added Liam Martin, Scott Sorensen, Brian To'o and Moses Leota's contract, so it's unclear where their salary cap would sit for Luai.

The club has Jack Cogger, however, and a host of young halves, so it's not out of the question that Luai could be among the departures at the end of 2024.

Smart management from the Panthers has seen the club refuse to overpay for players, with a number of stars exiting and youngsters out of the game's best junior academy taking their place in recent years. It has already been confirmed that Stephen Crichton will leave for the Canterbury Bulldogs at the end of this season, while Spencer Leniu is also set to join the Sydney Roosters in a move that, as yet, hasn't been confirmed.