Report: Panthers begin process to secure five-eighth’s signature…

Jarome Luai will be forced to take less than his market value if he wants to stay at the Panthers, it has been revealed.

With Luai set to become a free agent at the end of the season, the Panthers have begun the process to secure the five-eighth’s signature.

But with a host of players already on lucrative deals, the club has informed Luai that they do not have the salary cap capacity to offer him more than $800,000 a season.

Speaking on Nine’s 100% Footy, Sydney Morning Herald journalist Michael Chammas reported that Penrith has staged “informal talks” with the two-time premiership player.

“The reason they have had those talks is because there has been a management split,” he said.

“(As a condition of NRL playing contracts) he can’t negotiate with another manager until mid-October but has been permitted to negotiate directly with the club.

“So, the club has sat down with him and explained the salary cap situation and they’ve indicated to him what they are roughly going to be able to spend.”

With the club not in the financial situation to enter into a bidding war for the Blues rep, Chammas revealed that the figure to keep Luai at the Panthers “starts with a seven”.

“He won’t get more than $800,000 at the Panthers and they have told him that, as it stands right now, things could change and players could move on, but right now, the offer is going to be in the $700,000s,” he said.

However, a formal offer is yet to be presented to Luai.

Last week, fullback Dylan Edwards signed a four-year extension with the club worth $3.4 million.

This added to the Panthers’ already strained salary cap after lucrative deals for Nathan Cleary (estimated at $1.3 million per year), James Fisher-Harris ($950,000), Liam Martin ($750,000) and Isaah Yeo ($850,000).

With little room to negotiate, Chammas said he “wouldn’t be surprised” if Luai explored his options when the NRL’s trade window opens on November 1

“I imagine, there would be more than $700,000s [out there],” he said.

“This is probably going to send the market into a bit of a frenzy.”

When quizzed about the contract situation on Wide World of Sports’ Immortal Behaviour last week, NRL legend Andrew Johns Johns called on Luai to consider Bulldogs recruit Reed Mahoney’s circumstances.

“Maybe go and ask Reed Mahoney … it’s going to be a big one for Jarome,” he saidImmortal Behaviour.

Johns added that the 26-year-old could attract offers north of $1 million-a-season if he decided to explore the open market.

“Jarome’s got a young family so you can totally understand it but if Jarome goes on the open market he’s getting a million dollars,” Johns said.

“Over five years you’re talking nearly two million dollars (more than the Panthers deal). You can’t stay for that.”

Despite being the NRL’s most dominant team in recent years, Penrith has developed a trend of losing two big-name players each year due to salary cap pressures.

After the 2021 grand final, they lost Matt Burton and Kurt Capewell. Api Koroisau and Villiame Kikau then followed after the 2022 premiership and off the back of their minor premiership success this season, Spencer Leniu and Stephen Crichton will depart for rival clubs.