Phil Gould's exit from Penrith is expected to be finalised early next week with the NRL club promising to pay tribute to the man who helped lift the club off the canvas.
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Despite having three-and-a-half years left on his deal, Gould's position of general manager of football has been made redundant and the club's board on Wednesday agreed to negotiate the terms of his settlement.
Panthers Group CEO Brian Fletcher said he would meet with Gould's management early next week, where his financial payout and end date would be decided.
Fletcher said the club would look to commemorate Gould for his profound influence on the organisation.
He said he didn't know what form that would take, but said he deserved to be remembered for single-handedly saving the Panthers League Club, overhauling their junior pathways and building their $22 million academy.
"I came onto the board (of the Panthers Leagues Club) 11 years ago and we owed $112 million and the bank was going to close the 11 clubs down," Fletcher said.
"Through Gus' friendship with James Packer we were able to borrow $10 million overnight. If we didn't get that, we wouldn't be standing here today. And all those other clubs would have been closed."
If it weren't for Gould's intervention, it's likely the football club would today be on its knees.
Last year, the Panthers Leagues Club propped up the football club with a $5.9 million grant.
While Gould often divides opinions, he has left an indelible mark on the Panthers.
After coming into the competition in 1967, for much of their early years they were the competition's easybeats.
Gould coached them to their first grand final in his first year in charge in 1990 before winning their maiden title in 1991.
Before he joined their backroom staff eight years ago, they were a basketcase and made the finals just once from 2005 to 2013.
They are now a consistent top eight team.
Fletcher said the club's junior pathways were a "mess" before Gould intervened, and they are now credited with having one of the best systems in the league.
As for Gould's future, Fletcher revealed that five sides had expressed their interest in him in recent times, but doubted he would return to clubland in a permanent role.
"I don't know that Gus will go into clubland again," Fletcher said.
"I don't think he'd go into it under the same terms that he came here, trying to build up a club. It was too hard a work. Gus is 60 years old. How long can you keep doing that for?"
Australian Associated Press
