Reece Walsh's $5m contract extension set to force star teammate out of Brisbane Broncos

The Broncos appear increasingly likely to lose one of Selwyn Cobbo or Kotoni Staggs, with Reece Walsh agreeing to a bumper new $5 million deal that will cause the NRL club some salary cap headaches. Walsh has reportedly agreed to remain in Brisbane on a four-year contract extension worth $5 million.

Although nothing is official just yet, the Broncos have moved to lock him down before he becomes a free agent for 2026 on November 1. Initial reports from earlier this year stated that Walsh was looking at a new deal worth $6 million.

But despite the fact he's seemingly agreed to take $1 million less, Walsh's new contract will still have unwanted consequences for some of his teammates. Ezra Mam, Payne Haas and Patrick Carrigan have all been re-signed on big-money deals in recent times, and with Walsh set to take another $5 million, there's very little left for others.

Cobbo and Staggs are both free to negotiate with rival clubs come November 1, and the Broncos appear destined to have to part ways with one - if not both. Leading reporter Brent Read stated on NRL 360 on Monday night: "You look at the two centres they have - Kotoni Staggs and Selwyn Cobbo - both are guys who are free agents on November 1. They (Broncos) probably won’t be able to keep both of those guys I imagine. They probably have to make a decision, unless they want to take significant haircuts.”

Phil Rothfield added: “The Broncos’ problem is Mam got a massive upgrade last year around $800k, Payne Haas got a big one, so did Patrick Carrigan. So they’re chewing up a lot of their cap on four great players.”

Reece Walsh's $5m contract to spark salary cap squeeze

There's no suggestion the Broncos have erred in giving Walsh $1.25 million per season as he's a generational talent who will put bums on seats for the next decade. He's not even the highest-paid fullback in the NRL, with Kalyn Ponga on $1.4m at the Newcastle Knights. But as we've seen at the Knights, paying one player so much money means it's hard to add high-quality players to a roster, and can be disastrous if the superstar on massive money gets injured.

Coach Kevin Walters has already admitted Cobbo and Staggs would need to take pay-cuts if they want to remain loyal to the Broncos. But with the side finishing 12th in 2024 in a massive fall from grace, there's every chance they'll look elsewhere in order to be paid what they're worth.

Speaking last October, Broncos legend Wendell Sailor predicted this exact situation. He said on Triple M radio: "I like Ezra but look, that's big dollars. I was just talking a couple of months ago about paying Reece Walsh a million dollars. So if you're paying him a million dollars, you're paying Payne Haas a million dollars... you're top heavy, something's gotta go."

Broncos won't be able to snare Sam Walker at halfback

The situation also means the Broncos can't afford to bring Sam Walker back to replace veteran halfback Adam Reynolds, as Darren Lockyer highlighted earlier this month. Walker is from Queensland and would be the ideal target at No.7 for the Broncos, but they won't be able to afford him.

“They’ve got a young kid in their system named Cody Black that they’ve put a lot of time into and he’s been earmarked to be their long-term No. 7. I don’t think they’re willing to give up on him,” Read said. “And Sam’s asking price, I mean you’re talking well over $1 million. I don’t think they can afford to fit him in.”

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Lockyer revealed earlier this month: "The salary cap probably restricts you from bringing someone like that to the club at the moment, because he's demanding big money. He's already got a decent offer on the table from the Roosters, even though it's well below what he's asking. The Broncos at the moment would not be in the market, could not afford that type of player."