Nathan Peats' State of Origin promotion hasn't convinced his former club he is worth his asking price, with the Parramatta Eels taking their offer off the table. Fairfax Media can reveal the Eels have pulled out of the race for Peats' services after he baulked at the club's $500,000-a-season offer.

It is understood Peats is holding out for $600,000-a-season deal and both the Titans and Eels were well short of his desired figure. The Titans have recently reduced their offer to about $500,000, shaving close to $50,000 off the original offer they tabled for the NSW No.9.

The fact the Eels have pulled out of the hunt won't help his cause, with Peats losing the leverage he once had over the Titans with the potential threat of returning to Parramatta.

The Titans may be able to raise their offer if Jarryd Hayne chooses against taking up an option for next year worth $1.2 million, although it is becoming increasingly likely Hayne will remain on the Gold Coast.