‘Operation Keep Clearys’: Panthers start talks to tie down captain and coach
By Christian Nicolussi - Sydney Morning Herald.
February 3, 2026 — 3.40pm
Penrith are plotting “Operation Keep Clearys” in the hope they can re-sign the game’s premier halfback and coach before they are free to negotiate with NRL rivals at the end of the season.
Nathan and Ivan Cleary are off contract at the end of 2027, and will become the hottest commodities in rugby league if they hit the open market come November 1.
The Panthers are keen to ensure speculation about the Clearys’ next move does not become a distraction this season. The father and son are four-time premiership winners, and will attract huge interest if they are genuinely open to moving.
It has already been reported the Clearys are in the sights of the game’s 19th franchise, the PNG Chiefs, who will have the advantage of tabling tax concessions in contract negotiations.
The Panthers have said previously they want Nathan to become a Panther for life, and are prepared to offer him a deal that reflects his value to the club and community.
The NRL have commenced preliminary discussions about the next TV broadcast deal. Should it eclipse the $1.7 billion, five-year arrangement that runs until the end of 2027, Cleary stands to become rugby league’s first $2 million-a-season player.
A new deal with the Panthers would be likely to include ratchet clauses increasing the value of the contract in line with the salary cap.
Panthers rugby league chief Matt Cameron confirmed internal discussions with the Clearys had been held.
“What Ivan and Nathan do next is going to become a hot topic of discussion as we move through the 2026 season,” Cameron said.
“The pair are both contracted until the end of 2027. There is a rhythm that exists once the season starts, and when we feel the time is right our chairman, Peter Graham, will engage with Ivan and Nathan to get the conversation started.
“With Nathan, the way sports science is these days and the way he prepares, he could play on another 10 years – who knows, he could set all sorts of new records for most games played and points scored.
“We’d love Ivan and Nathan to stay. They have already played a huge role in our success and we want that to continue.”
The Panthers announced
contract extensions for the Clearys in April 2022, more than 18 months before Ivan was off contract and two-and-a-half years before Nathan’s deal expired.
Complicating matters for the Panthers is that they have a host of other stars off contract at the end of 2027, including co-captain Isaah Yeo, Liam Martin, Brian To’o, Moses Leota, Mitch Kenny and young playmaker Blaize Talagi.
The Panthers have been forced to farewell many players from their premiership run since 2021, having been unable to match the bigger paydays on offer elsewhere. On average, they have lost about $1m a year in talent.
There has been speculation Cleary might finish his career in the Super League to be closer to his partner, Matildas and Manchester City striker Mary Fowler, in England.
The more immediate threat to the Panthers would be the PNG Chiefs, due to enter the competition in 2028, largely because of the mooted tax benefits. A bumper contract at the league newcomers would effectively be worth double what they could make elsewhere.
“We’d love Nathan to stay, we want Ivan to stay, and those other players you’ve just mentioned who are off contract at the end of 2027, your ‘Isaahs’, your ‘Liams’, your ‘Bizzas’ [To’o] and ‘Leotas’, your ‘Mitch Kennys’, all I can say is we’ll be doing everything we can to keep them,” Cameron said.
The Clearys won four straight premierships and arguably should have had a fifth last year, only to lose the preliminary final against the Broncos after leading 14-0 at half-time.
Christian Nicolussi covers rugby league for The Sydney Morning Herald.Connect via
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