Penrith Panthers halfback Nathan Cleary has reportedly rejected a significant offer from the new PNG Chiefs club, opting instead to extend his contract with his current team. The Chiefs presented a three-year deal valued at up to $8.4 million tax-free, which included a base salary of $2 million per season plus an additional $800,000 annually in third-party endorsements, according to News Corp.
Cleary is expected to sign a two-year extension with the Panthers, reportedly worth approximately $1.7 million per season and keeping him at the club through the end of the 2029 season. The proposed deal also includes a player option for an additional two years, which could see him remain with Penrith until 2031.
The PNG Chiefs' offer was understood to be $300,000 per season higher in playing salary than his reported Penrith earnings, before accounting for the tax-free status. When combined with potential endorsements, the Chiefs' total annual package reached $2.8 million, surpassing his reported Panthers salary by $1.1 million, excluding any separate endorsements Cleary might secure with Penrith.
According to Nine, Cleary informed the Chiefs of his decision on Wednesday evening. His current contract with Penrith extends until the end of the 2027 season, and he became eligible to negotiate with rival clubs for the 2028 season, when the PNG team is set to enter the competition, from November 1.
This contract development occurs while Cleary is recovering from a compound fracture of his left fibula and a dislocated left ankle, injuries sustained during Penrith's preliminary final loss to Newcastle. He also played through a fracture in his right foot and underwent two surgeries following the Panthers' finals exit. His management had previously confirmed that contract negotiations were paused to focus on his recovery.
Cleary has since had his casts removed and is using walking boots, with a return to play targeted for the early rounds of the 2027 season. Cleary has been a key player in Penrith's recent success, winning four consecutive premierships from 2021 to 2024 and also featuring in the 2020 Grand Final. He has been awarded the Clive Churchill Medal twice, in 2021 and 2023.