The Wests Tigers have called an extraordinary board meeting for Wednesday night when the future of NRL coach Ivan Cleary is likely to be discussed.

Cleary has been widely tipped to request a release from the final two years of his contract to make a stunning return to Penrith, three years after being sacked from the club.

It is believed the club will seek major compensation from the Panthers, possibly including players, for them to consider letting Cleary walk from Concord.