Penrith have confirmed the immediate release of Waqa Blake, allowing the sidelined NRL centre to take up a 4-1/2 season Parramatta deal.
The move is expected to give the Panthers salary cap space to make a play for Gold Coast Titans utility Tyrone Peachey before the June 30 deadline.
Penrith said on Wednesday that the Eels had snapped up Blake who had been contracted to the Panthers until 2023.
Blake, 24, won back-to-back premierships with the Panthers' NYC side and earned Fiji international honours during his time at Penrith.
He played 88 NRL games for the Panthers.
"Panthers was initially approached by Parramatta to express their interest in acquiring the services of Waqa Blake," Panthers CEO Brian Fletcher said in a statement.
"Ultimately it was a difficult decision to grant Waqa's release but it will assist the management of our salary cap moving forward."
Blake is sidelined with a knee injury but is expected to be available for selection in round 20.
Blake's release is set to pave the way for Peachey's return to Penrith.
Former NSW and Panthers utility Peachey is believed to be unsettled at the Gold Coast just six months into a three-year Titans deal and has been linked to Penrith since earlier this month.