It's hard to pinpoint a team who have underperformed against their expectations more than the North Queensland Cowboys in recent seasons.
They have had trips to the finals under Todd Payten, but this is a squad who should regularly be pushing for premierships.
In truth, they haven't been close for some time.
That's not to say wholesale changes are needed, but it's clear coach Payten is under plenty of pressure to turn things around if he wants to escape long-term with his job.
2027 is shaping up as the year they could potentially look to remodel a lot of what they are doing in Townsville as well.
As it stands, it's a very limited squad on contract heading into the year, and while it's headlined by some big-money deals, there is plenty of wiggle room if the Cowboys want to say goodbye to a number of players on their books currently and move in a new direction.
Current North Queensland Cowboys 2027 squad
Reuben Cotter, Tom Dearden, Robert Derby, Scott Drinkwater, Coen Hess, Zac Laybutt, Heilum Luki, Reed Mahoney, Jeremiah Nanai, Jason Taumalolo, Viliami Vailea
Off-contract at the end of 2026
John Bateman, Braidon Burns, Tom Chester, Jake Clifford, Zac Herdegen, Mason Kira, Kaiden Lahrs, Karl Lawton, Sam McIntyre, Thomas Mikaele (club option), Griffin Neame, Kai O'Donnell, Jaxson Paulo, Jaxon Purdue, Murray Taulagi
Current best 17 for 2027
1. Scott Drinkwater
2. Robert Derby
3. Zac Laybutt
4. No player signed.
5. Viliami Vailea
6. No player signed.
7. Tom Dearden
8. Reuben Cotter
9. Reed Mahoney
10. Coen Hess
11. Jeremiah Nanai
12. Heilum Luki
13. Jason Taumalolo
Interchange
14. No player signed.
15. No player signed.
16. No player signed.
17. No player signed.
As it stands, the Cowboys have just 11 players signed heading into 2027.
Of those, it could be reasonably anticipated that Jason Taumalolo will hang up the boots at the end of the 2027 campaign.
Coen Hess may not be all that far behind him, although some will be surprised to learn he is only 29 at the time of writing, such has been the nature of his career.
The Cowboys do have a strong nucleus. The recent signing of Reed Mahoney from the Canterbury Bulldogs means they have replaced Reece Robson as he heads off to the Roosters, while Tom Dearden, Scott Drinkwater and Reuben Cotter are all already locked in for 2027.
But there are big question marks around the Cowboys.
They need more depth in the forwards, will be hoping Heilum Luki can finally string a full season together, and could need to sign a five-eighth unless they lock up Jake Clifford - even then, it's question of whether they want to. Clifford was in and out of the side throughout 2025.
Centre and wing also have question marks, so this is essentially an open slate for the Cowboys, with only a handful of players - likely led by Jaxon Purdue and Queensland State of Origin winger Murray Taulagi - desperately needing to be re-signed given their obvious talent and potential.
Option 1: Keaon Koloamatangi (South Sydney Rabbitohs)
What you're going to see on this list for the Cowboys are stars.
They will be able to fill the back-end of their squad with their own local talent, but with so many spots up for grabs, they have a real chance to reshape their salary cap and bring in some big names to complement the big-money deals they already have in place for Drinkwater, Cotter, Taumalolo and Dearden.
It may seem strange to say there is wiggle room with four already in place, but none of them are on big seven figure sums as you see elsewhere in the competition, so it's a safe bet to assume there is some room to move in Townsville.
What they need more than anything is a game-breaking forward. They used to have that in Taumalolo, but he is certainly slowing down as he approaches the back-end of his career.
Reuben Cotter is one of the best options in the competition, but he is known for his work rate, not his ability to change the game in a matter of minutes.
That has become the domain of Koloamatangi in recent times. His move into the middle at the Rabbitohs was one which originally raised eyebrows, but has since become one of the best the competition has seen.
His form during the second half of 2025 was just about the only reason South Sydney avoided the bottom of the table, and he should have plenty of clubs knocking from November 1 - the Cowboys almost certainly have to be one.
