As the rebuilding of the Newcastle Knights continues to take shape, two more veterans could reportedly depart the club before their contracts expire.

Reaching the finals last season due to an impressive winning streak heading into September, the Knights are set to miss out on playing finals football this year. They need to win their final two matches and have other fixtures go their way.

Matters are set to get worse in 2025 as they are set to have little room in their salary cap and need to offload players to stay under the threshold.

Parachuted into the Head of Recruitment role, Peter O'Sullivan has already made mass changes to the roster.

Leaders Daniel Saifiti and Jayden Brailey were given permission to leave the club - the latter is set to sign with the Dolphins - as well as Jack Hetherington and international prop Leo Thompson have also been linked with an exit.

As the rebuilding process continues to take shape, two more veterans could soon find themselves looking for a new home despite playing State of Origin over the past couple of years.

Veteran duo Dane Gagai and Tyson Frizell may be the next to leave and could depart the club by the end of next season, perย News Corp.

NRL Rd 12 - Sharks v Knights
COFFS HARBOUR, AUSTRALIA - MAY 20: Tyson Frizell of the Knights looks dejected after defeat during the round 12 NRL match between Cronulla Sharks and Newcastle Knights at Coffs Harbour International Stadium on May 20, 2023 in Coffs Harbour, Australia. (Photo by Mark Kolbe/Getty Images)

Extending his contract with the club in the middle of this year after links to the Sydney Roosters, Gagai is contracted until the end of the 2026 season with a mutual option for the following season.

A NSW Blues representative, Frizell, also has a mutual option in his contract. The second-rower has a player option in his contract for next season and a mutual option for the 2026 NRL season.

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However, due to the club's lingering salary cap problems, the duo could depart as soon as the end of next season.

Together, Frizell and Gagai have amassed 542 first-grade games, 39 State of Origin matches and 21 Tests for the Australian Kangaroos.

As it stands, David Armstrong (Leigh Leopards) and Myles Martin (Canberra Raiders) are the only confirmed departures for next season.

Although they are yet to confirm any arrivals, Parramatta Eels hooker Matt Arthur is all but certain to join the club in 2025 on a three-year contract.