Penrith have announced the re-signing of lock Nathan Smith for another three years despite the player agreeing to join Canberra several weeks ago.

Smith agreed to a deal to return home to the Raiders on April 29 but has since had a change of heart and decided he wants to remain a Panther.

Penrith chief executive Michael Leary confirmed the club had re-signed Smith after seeking legal advice following threats of action from the Raiders.

"Nathan has been in good form for the Panthers," Leary said in a statement.

"I'm pleased we have been able to keep him."

Brought to you by AAP © 2024 AAP