Superstar playmaker Jarome Luai has reportedly been offered a two-year contract worth $1.7 million as he gets ready to become a free agent on November 1.
Per the Herald, the Penrith Panthers have tabled a two-year contract to Luai worth approximately $850,000 a season to keep him at the club until at least the end of the 2026 season.
It is understood that the reported deal is an increase of around $100,000 ($50,000 per season) after it has been previously revealed by several publications that the club is likely to offer him between $700,000-$800,000 a season - a price that sees the Samoan international earn way less than his market value.
The updated news surrounding Luai's future comes after he recently signed with Black Money Enterprises. A management agency that looks after some of the biggest stars in the competition, including South Sydney Rabbitohs star trio Latrell Mitchell, Jack Wighton and Cody Walker.
While Luai is yet to confirm if he will remain at Penrith - he has indicated his preference to stay - the three-time premiership winner is likely to be offered offers worth in excess of $1 million a season from rival clubs. However, they are unable to submit a formal offer until November 1.
The Panthers' tight salary cap position comes due to them locking up several of their stars to big-money offers, including Nathan Cleary (estimated at $1.3 million per year), Dylan Edwards ($850,000), James Fisher-Harris ($950,000), Liam Martin ($750,000) and Isaah Yeo ($850,000).
As well as re-signing 2023 Grand Finalists Moses Leota (2027), Lindsay Smith (2026), Scott Sorensen (2026) and Brian To'o (2027).
Penrith Panthers Chief Executive Matt Cameron spoke to the Herald after being contacted for comment but would not discuss any details of the negotiations between the club and Luai.
“Jarome is aware of the club's capacity moving forward,” Cameron told the Herald.
“He will obviously command interest on the open market and we have no problem with him investigating all his options if he needs to after the first of November.”