The Parramatta Eels have reportedly given Reagan Campbell-Gillard permission to leave the club at the end of 2024.

Incoming coach Jason Ryles and the recruitment staff are in a desperate struggle to rebuild the blue and gold just 24 months after a grand final appearance.

A bloated salary cap, underperforming big names and a number of stars of tomorrow heading for the exit gates is leading to a full-scale reset job in Sydney's west.

Campbell-Gillard has been one of those big names that has been underperforming this year.

A former State of Origin player, the powerhouse prop has averaged only a tick over 120 metres per game this year - down over 20 metres per contest on his numbers last year when he averaged 148. In fact, the last time he averaged under 140 metres per game was when he last played for the Penrith Panthers.

The forward doesn't have to leave if he doesn't want to given he is contracted with the blue and gold on a $750,000 per year deal until at least the end of next year, but the club have said he is free to leave a year early according to Fox Sports.

If that does happen, then the club would free up substantial cash and be able to attack the free agency market with the few players that are left, or, more likely, promote young talent, pay forward contracts and have an enormous war chest for next season's free agency raid.

It's understood the North Queensland Cowboys have shown substantial interest in Campbell-Gillard but need Valentine Holmes to depart if they are to have the cash to make a play.

Holmes is understood to have now told the Cowboys he is more interested in remaining in Townsville than leaving after being heavily linked to the St George Illawarra Dragons.

The Dragons may turn into the most obvious home for Campbell-Gillard, with the joint venture currently in talks with Daniel Saifiti and Corey Horsburgh. Shane Flanagan is desperate for forwards and has cash to spend, but is no guarantee of locking up either player from either the Newcastle Knights or Canberra Raiders.

It's understood Parramatta will not chip in at all for Campbell-Gillard to play elsewhere on the money front, meaning another club will need to pick up the whole $750,000.

The Eels have also given Maika Sivo and Ryan Matterson permission to exit.