Billy Slater fears the wheels may be falling off the Penrith juggernaut after watching the three-time reigning NRL champions lose the World Club Challenge.
The Panthers lost 16-12 to Super League winners Wigan on Sunday morning in Manchester, although some dodgy referee decisions certainly didn't help the Aussie club.
While the NRL premiers went within a whisker of winning the showpiece, Slater was surprised to see such tight a contest.
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"I'm sure the Panthers would be sitting there going, 'well we let it get that close'," Slater told Nine's The Billy Slater Podcast.
"The Panthers still played their style of football, they played that field position game and they won the majority of the field position game, but they couldn't score enough points.
"Is that a reflection of the amount of quality they've lost over the last two seasons? There's a lot of good players and lot of creativity (gone).
"It will be interesting to see if that continues into the NRL season, or Jarome Luai coming back into the fold adds another dimension and takes some responsibility off Nathan Cleary and Isaah Yeo.
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"It's interesting, because this time last year we were saying the same thing... but they still went on to win the competition."
Since winning their first of three straight premierships in 2021 the Panthers have lost star players Api Koroisau, Matt Burton, Kurt Capewell, Viliame Kikau, Stephen Crichton, and Spencer Leniu - among others.
https://omny.fm/shows/the-billy-slater-podcast/slaters-vegas-verdict-what-to-expect-from-nrls-gam/embedThe exits of Crichton and Leniu this year robs Penrith of some X-factor and power. Next year five-eighth Luai heads to the Tigers.
Slater says, eventually, the loss of star power will catch up to the Panthers.
"It's hard to begrudge anyone that moves on. Our game is designed so the salary cap comes in, the successful teams can't stay together," Slater said.
"We've seen it time and time again, and the Panthers are going through it now.
"To hold that standard and continually find that success during this three-year period is phenomenal because they've lost a couple... of good players each year."
Penrith is the only team in the NRL era to win three consecutive grand finals.
No team has won four in a row since the famous St George side that claimed 11 straight from 1956.
Slater isn't discounting the Panthers' chances this year.
"They are a champion club, I think they've earned that tag, and you would be a brave man to back against them continuing their run," he said.
"The one question mark I do have is you continue to lose quality, and eventually quality will fall out of your game.
"I don't doubt that the fabric of their game and the foundation of their game will still be there. I don't doubt the hunger will be at less of a level.
"But when you take the quality out, and all of a sudden you're not finishing like you were a year ago. There is more pressure on the Nathan Clearys and Dylan Edwards."
Penrith opens its 2024 campaign against Melbourne on Friday week.