EXCLUSIVE: Billy Slater's stinging 'mirror' claim after Broncos cop reality check from 'sleeping giants'

Billy Slater has warned the league not to underestimate the power of the Penrith Panthers as Ivan Cleary's men have gotten away with being "sleeping giants".

Two poor results in the pre-season challenge after a preliminary final exit in 2025 allowed the four-time premiership winners to fly under the radar leading into the new season.

Low expectations were blown out of the water in round one, however, with the Panthers thumping the Broncos to give the reigning premiers a harsh reality check.

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Penrith started the season as the second favourite with bookmakers to lift the premiership trophy behind the Broncos but those odds weren't necessarily reflected in the headlines, with the Roosters just one example of a team that has stolen the spotlight in the off-season after the arrival of Daly Cherry-Evans.

The Roosters flattered to deceive in their season opener against the Warriors and the Broncos are now also facing up to the reality of being the top dog every other team will go after, with Penrith dismantling them in a ruthless 26-0 rout at Suncorp Stadium.

Slater said the Broncos should be thankful that Penrith exposed their weaknesses so early in the season.

"When you play Penrith, it is like looking in the mirror," Slater said on Nine's The Billy Slater Podcast.

"They hold the mirror up to your game like no other team in the competition.

"They highlight your deficiencies, where your mentality is towards the tough parts of the game and they just hold you there.

"The Broncos had a great opportunity here to play the Panthers in round one. They didn't get it right, so it is now a great opportunity to review this game and look at those deficiencies and see where there is room to improve.

"This is a marathon, it is a long race this season. (Brisbane) have plenty of time, but they need to be honest about where they are at."

Slater recognised the lack of attention on the Panthers leading into round one compared to the Broncos, who have been in the headlines due to Payne Haas' looming exit.

Aside from the announcement that a handful of Penrith stars would be moving on from the club at the season's end, the only major concern they had was the availability of star halfback Nathan Cleary after he was hit with a suspension for a high tackle. That ban was overturned following a short visit to the NRL judiciary.

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Penrith also had no widely publicised surgeries or recovery programs within their team.

"They've been the sleeping giants throughout the pre-season, no one has been talking about the Panthers," Slater said.

"They won four straight competitions and then they had a poor start to the year (in 2025) and they didn't get to the grand final. Everyone just thought they had fallen off a cliff and that it was time for the Panthers to not have success anymore.

"Well, unfortunately all the experts are not in control of that, the only people who are in control of that are the people out in Penrith. They are just reminding everyone that 'hey, we are still here and we aren't going anywhere just yet'.

"Some of them went on international tours and stuff, but they seem relatively healthy. And this game is too hard to play when you are not fit.

"The Panthers look fit and they understand their game. They know what they are, what their DNA is, their identity ... they go out there and apply pressure like no one else."

Slater knows what it takes to win a premiership and be part of a team that dominates the competition, having played in seven grand finals while at the Melbourne Storm.

With each title win, Slater admitted his desire to win the competition rose again, just as it did for the Panthers over the past five years.

It remains to be seen how the Broncos will back up a season after breaking their premiership drought.

"I've lost premierships and I've won them, and I know that it gives you two things. It gives you confidence and also complacency. You have the opportunity to go either way," Slater pointed out.

"You also get comfort from winning a premiership as well as confidence. If you're not willing to get away from that comfort, then it can be cruel to you.

"If you're willing to get uncomfortable like you did to win that premiership and go after all those little things in your game that aren't necessarily easy, shiny or exciting then you can find yourself in a bit of a hole.

"Brisbane have got the brilliant parts of their game, they have got the shiny stuff ... but they just need to find the hard parts of the game and be hungry to go after them.

"That's what Penrith have done. Every season that Penrith have won a competition, the first couple of rounds, that's all I look for. Where are their hunger levels? Then I see Liam Martin coming out of the line and doing all these crazy things and (then I know) the Panthers are still hungry.

"I saw hunger levels at Suncorp Stadium on Friday night, but only from the team in pink."

The Broncos will kick off the second round against the Parramatta Eels, who also suffered a brutal thrashing in the first round. Penrith will host Cronulla on Saturday.