Penrith Panthers, New South Wales Blues and Australian Kangaroos superstar Nathan Cleary is set to test the open market for the first time in his career.

While he hasn't said it's a guarantee, he has certainly hinted it's going to happen.

The Penrith Panthers have a stretched salary cap, and just maybe, the star halfback is getting itchy feet around what his legacy will be if he never tries to play outside of the Penrith system.

There are plenty of fresh challenges around the competition for him to have a crack at while he is still in the prime of his career.

From heading to an under fire club, to an expansion one, to linking up with another premiership contender, all options are on the table for a player who will fetch well and truly over a million per season once he starts to test his true worth from November 1.

Penrith are still a great chance of capturing Cleary's signature, but if he does leave the foot of the mountains, where does he wind up?

We have analysed and ranked every club's chance of landing the Penrith star.

5. South Sydney Rabbitohs

The Rabbitohs are at an intriguing crossroads when it comes to halves, and they would need to shuffle a lot of money around to make a move for Nathan Cleary happen, but there is no reason it definitively won't.

The now seemingly likely departure of Jamie Humphreys at the end of 2026 leaves the halfback spot wide open long-term, while big-money deals for Jai Arrow, David Fifita, Campbell Graham, Latrell Mitchell, Brandon Smith and Jack Wighton wrap up at the end of 2027.

Of those, Arrow and Wighton, as well as potentially Smith, are likely to leave, but without success between now and then, there is also a world where Souths elect to not offer Mitchell a new deal.

If that happens, and they are in need of a new halfback, then they would have plenty of resources to pour the way of Cleary, who could well want to stay in Sydney with his next deal.

One to watch, we reckon.

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