The Penrith Panthers have secured the services of elite father and son duo Ivan and Nathan Cleary on five-year contracts worth an estimated $10 million.
Premiership winning coach Ivan has signed a five-year contract extension, reportedly worth $1 million a year, whereas in-demand halfback Nathan is set to earn $1.1 million until 2027.
SEN’s Michelle Bishop has said that the Panthers have made the correct decision and are now able to build a dynasty around the $10m family.
“They’ve become Panthers for life,” Bishop said on 1170 SEN Breakfast.
“Fancy building your side over the next five years plus around a 24-year-old who still has his best years ahead of him.
“He just continues to get better and better.
“Penrith’s future is now set for quite some time.
“It’s exciting times at the foot of the mountains, that’s for sure.”
The timing of this decision from Penrith is perfect with the NRL considering changes to the salary cap which would will see clubs rewarded for debuting rookie players who were developed by that particular club.
Clubs like Penrith and the Sydney Roosters would gain salary-cap relief under the proposed changes as they would be considered development clubs.
“They’ve taken everything into consideration if the salary cap goes up,” Bishop added.
“If the salary cap goes up, Nathan’s deal goes up as well.
“They’ve just about covered everything.”
Attention now turns to long-time Penrith assistant coach Cameron Ciraldo who has drawn significant interest from rival clubs.
Ivan Cleary’s latest extension is further evidence that Ciraldo will finally take up a head coaching role at another club come season’s end, according to Bishop.
She added: “How much longer will he play bridesmaids?
“He’s the master of their defence (and) surely he’s sticking his nose out there and seeing what’s available and what’s coming up.
“He’s itching to be a first grade coach.”
Penrith will look to remain unbeaten when they play the Brisbane Broncos on Good Friday.