Wayne Bennett is to quit his job as Newcastle coach at the end of the NRL season.

News Corp reports that Bennett told Knights staff and players of his decision after three years at the helm on Thursday morning.

Bennett, 64, is to make an official announcement after training later on Thursday.

The former Brisbane and St George Illawarra coach had a year left on his contract, but the agreement was with the club’s former owners, Nathan Tinkler’s Hunter Sports Group (HSG), who relinquished control to the NRL club last month.

The seven-time premiership-winning coach has been linked with returns to both the Broncos and the Dragons.

NRL boss Dave Smith stated publicly he wanted Bennett to help rebuild the Knights long term with the club battling to avoid the wooden spoon in 2014 following a year of turmoil.

“What’s happened at the club this season has just worn him out,” a source told News Corp.

“The jailing of Russell Packer, the off-field dramas with Tinkler and the shocking injury to Alex McKinnon have all affected him.

“The Alex situation in particular has really hit him hard.”

Newcastle disappointed in their first season under Bennett before he took them within one game of the 2013 grand final.