The Canberra Raiders are set to turn their attention to Penrith Panthers off-contract star Liam Martin as the transfer market heats up.

The Raiders wanted to retain their current star and State of Origin player Hudson Young, but ultimately were forced to withdraw their offer after he and his management held out until November 1.

The Raiders, in a statement released on Monday, confirmed they withdrew the offer to allow the club to plan for the future, while Young, who has been heavily linked to the Chiefs, is now almost certain to play elsewhere in 2028.

“After discussions with members of the board and senior management, the Canberra Raiders have withdrawn their latest contract offer to Hudson Young,” the statement said.

“Hudson has been and remains an extremely valuable member of the club since making his NRL debut in 2019, and has played more than 150 games for the Raiders.

“The club's offer to Hudson and his management was intended to keep him at the Raiders for the rest of his career, as an integral part of the club and a potential future leader.

“The offer that was made was the largest in club history. As a club, we believe we have done all we can to keep Hudson in Canberra.

“However, negotiations have been ongoing since June, and the club needed an answer before the end of October so they could plan for the future.

“Hudson remains contracted to the Raiders for the 2027 season, and we look forward to seeing him return for pre-season training.”

Young, while favoured to head to the Chiefs, is yet to tour facilities in Port Moresby.

He could miss out there given the club is only willing to pay about $900,000 for him - well below the NRL's market value.

Other clubs in Australia will understandably be interested in Young now he is off the table at the Raiders, and a bidding war could break out for his services.

Intriguingly, the market for second-rowers is skyrocketing, with Jacob Preston and Samuela Fainu both re-signing on heavily upgraded deals with their current clubs and Martin himself chasing seven figures.

Outside of Young, Martin is the best off-contract player left on the table in the second-row though, so it's no surprise to see Canberra turn their attention to the foot of the mountains.

The Raiders could also look at spreading the money elsewhere given Noah Martin's form and the emergence of Joe Roddy, but Ricky Stuart wants experience across his forward pack.

He loses plenty of it at the end of 2027 with the departures of Morgan Smithies, Josh Papalii and Corey Horsburgh, while Joseph Tapine is also approaching the end of his career.

The Raiders can officially start talking to Martin from November 1.