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Ryan Papenhuyzen can understand any hesitation from Melbourne over a new NRL deal, but he has made clear he does not plan on leaving the club for Sydney.

Ryan Papenhuyzen fully understands if there is any hesitation from Melbourne on a new contract, but insists his priority is to remain at the Storm.

Papenhuyzen will become a free agent in November unless a contract is finalised earlier, with the superstar Melbourne fullback off contract at the end of next year.

The 26-year-old's management met with Storm officials on Thursday, and there is a desire from both ends to get a deal done.

But Papenhuyzen is the first to admit he could understand if the Storm were in no rush to re-sign him.

The 2020 Clive Churchill Medallist knows the club have Su'a Faalogo waiting in the wings, and the potential young gun could look elsewhere if he re-signs.

Papenhuyzen has also admitted he is still not back to his best after two years of serious injuries, and concedes he had been guilty of trying too hard to make an impact this season.

"It's a business. If I was the head of a business then I'd want the same," Papenhuyzen said.

"I've done a lot of work on my mental and technical side of the game and now it's about physically getting those reps in.

"I think I'll be a better player for it, but at the same time I can see why they're waiting."

Papenhuyzen admitted he had at times began to doubt whether an extension would come from the Storm, with this the first time his future is up in the air.

"You want the club to offer something, but the longer it goes you're like 'shit, do they want me? They have signed Su'a'," Papenhuyzen said.

"But the conversation I have had with the owners, they all want me to be at the club."

If a deal is not done before November, it's expected Papenhuyzen will become one of the most in-demand players in the NRL.

Parramatta seem like an obvious candidate with Clint Gutherson open to a move to centre when former Storm assistant coach Jason Ryles takes over at the Eels.

Papenhuyzen also has other links to the club.

He grew up in Parramatta and has family in Sydney, where his sister recently had a child.

But the fullback suggested it was unlikely any of that would lure him out of the Storm.

"I love Rylesy and I think he'll do great things with Parramatta, but there are things beyond that," Papenhuyzen said.

"I've worked really hard to put myself in this position. I've worked with (Cameron) Munster, (Jahrome) Hughes and Harry (Grant).

"I don't want to let that work go to waste. I feel like we're building something special and I hope the club sees that."

"It's only an hour flight away (to Sydney) ... I know footy is only a short period of my life and I want to win premierships. That's always been the goal.

"I feel like we're building something well here. If the club wants me then I'll be here.

"As long as you're happy in one place and happy with the guys that you're working with, why would you (leave)?"