The Storm says it does not have room in the salary cap to sign the former Rooster who was released from his contract a week ago.

His release follows the signing of Cooper Cronk to a two-year deal.

Melbourne football manager Frank Ponissi says the club could not afford the NSW No.7 who is expected to command upwards of $1 million a season, a fair chunk more than his previous wage of $800,000.

Manly, Cronulla and Newcastle are still in the hunt for Pearce.

Pearce met with the Knights on Friday with the club reportedly set to have the cap space to offer him the richest deal.

Manly appeared to be in the box seat after releasing five-eighth Blake Green to the Warriors last Monday, however, Pearce is yet to decide his future.

He is expected to confirm his future in the next week.