Knights football director Peter Parr is confident Newcastle remain an attractive club despite star winger Dominic Young electing to join the Roosters next season.
Young and his management told the Knights and other clubs chasing his signature that they were out of the running late Monday.
The 21-year-old has committed to the Roosters for 2024 and looks set to sign at least a four-year deal with the glamour Sydney club.
The Newcastle Herald understands the Knights offered in the vicinity of $2 million over four seasons but were still short of what Young had on the table from elsewhere.
Sources from Young's camp suggested the Knights were the lowest of the final offers considered.
Newcastle believed they were a chance to retain Young with a competitive offer but they were not willing to break the bank for a winger. However, Young has spoken of his desire to be a centre.
"We thought it was a really good offer, and it was what we could afford," Parr said.
"We did everything possible that we could do to keep him, but at the end of the day it's a decision for Dom to make and you have to respect that."
Young's departure is disappointing for the Knights given they spent two years developing him into an established NRL player, and a bitter blow for supporters after he became one of the club's most popular players and a genuine rising star.
The English international had attracted interest from up to nine NRL clubs over summer following a standout 2022 campaign but was recently won over by a meet and greet with Roosters coach Trent Robinson.
"I think the club's still an attractive place to be," Parr said. "But for us, we need to be sure we convince others of that. We think we're heading in the right direction."
Young's decision to leave Newcastle has sparked debate about whether the club should persist with him in first grade or even release him early, potentially as part of a player-swap.
But Parr shot down the possibility of him being exiled to NSW Cup and said the club had no interest in an early release.
"Not at this point in time," he said.
"He's contracted to us and we've done all our planning around having him in the team. We're not going to pull our plans apart just because the Roosters might want him."
News of Young's decision came ahead of Newcastle's season launch on Tuesday night and little more than a week before the club's first game.
Newcastle is going through a re-calibration of how their salary cap is spent having recently signed a new halfback in Jackson Hastings, new fullback in Lachlan Miller and extended Kalyn Ponga last year on a revised mega-deal. The latter is also now playing in the halves.
But the Knights may live to regret not pushing to re-sign Young early last season when he was clearly emerging as an attacking weapon.
However, Parr only arrived at the club in August and had plenty on his plate to deal with in the opening few months of his tenure.
And once Young looked a chance to be picked for England, his management were always going to hold off for November 1, the date from which he could talk to other clubs, to test the market.
Young's performances at the World Cup, in which he scored nine tries in five games, also likely significantly increased interest from other clubs and his value.
The towering winger, among the quickest players in the NRL, has scored 18 tries in 26 games.
He appeared unfazed by his much-publicised recent contract talks in Newcastle's 36-14 trial loss to Parramatta on Friday, his first game of the year, scoring a try and narrowly missing a second.
Newcastle begin their 2023 season against the Warriors in Wellington, New Zealand, on Friday week.
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