By SEN
Ivan Cleary has confirmed he will step down as Panthers coach at the end of the 2027 season.
Cleary will remain in the role for the remainder of the 2026 season and 2027 before he will step away from the role.
Panthers' assistant Peter Wallace will succeed Cleary as head coach in 2028, agreeing to a three-year deal.
Cleary has been offered an advisory role by the Panthers following his departure.
The four-time premiership winning coach confirmed he has no interest in coaching another club, but would consider representative positions if offered.
"I'm here to announce I'll be stepping down from NRL coaching at the end of 2027," Cleary said.
"It's a decision I haven't taken lately but I've thought about for quite a long time.
"I feel like it's definitely the right thing for me, my family and the club.
"I feel really strongly this is the right time for me to step aside.
"What am I going to do? I've been a player and coach for 35 years... I'm definitely looking to branch out and use my skills and knowledge in other areas."
"It's time."
The Penrith Panthers have created a media frenzy by calling an urgent midweek press conference 24 hours out from the start of Magic Round amid speculation over the future of head coach Ivan Cleary.
While most assume it is a straight forward contract extension, Danny Weidler told SEN he is of the belief that Cleary will be announcing his resignation though the timeline remains unclear.
Speaking to SEN's Adam Peacock, Weidler said: "It is my information that Ivan Cleary will be announcing he will not be continuing as Penrith coach.
"I don’t know if that’s not seeing out his current contract to 2027 or finishing this year. But it is my information that Ivan has decided that time is up for him either in the near future or down the track.
"I think there will be an announcement about that today. Everyone is assuming it’s a re-signing for him. The CEO and Chairman will be there, if you're just re-signing him you don’t need the chair and CEO there do you?
"I started making phone calls and got one lead after another and I'm confident enough to go that there will be a change in coach at Penrith. This has not been confirmed by anyone so there could be egg on my face in an hour’s time.
"But the information I am getting I'm confident enough to say there is significant change coming at Penrith.
"Huge for them, the four-time premier and five Grand Finals in a row coach is deciding to go in a different direction. Massive news and it will have a flow on effect to the entire game."
The Panthers do not play until their Sunday afternoon clash against the Dragons, and the club has touted today's media call as a "major announcement".
Asked about what this could mean for Nathan Cleary's future with the club amid speculation rife, Weidler added: “The one that’s more juicy and exciting for everybody is Nathan.
“The best player in the game. Ivan never wanted to coach against him and Nathan has an obvious love for Penrith.
“Nathan doesn’t have the family tie for the club anymore and he’s a free agent, if he wants to be, on November 1.
“I would be shocked if Nathan were to play anywhere else.”
Speaking with Andrew Voss, the Daily Telegraph's David Riccio said it could only be one thing; Cleary has made a call on his future but was less emphatic than Weidler.
"No doubt this is highly significant," Riccio said. "This is a major announcement. It includes Panthers Chairman and CEO as well as Cleary.
"It's different on a Wednesday afternoon and it can only be one thing - his future at the club.
"He is contracted through until the end of 2027 so it's an extension or a plan going forward.
"Ivan has been staunch in not wanting to coach against the Panthers in his NRL future. So is he leaving to another club? I would find that highly unlikely.
"Ultimately Ivan, if he is to move on from coaching, he has discussed a football director role in which he would oversee the pathways and recruitment."
We will bring you the latest news live from 2pm AEST.
Crafted by Project Diamond