Off-contract Cobbo's situation is a fascinating one not just for what his recent demotion to Queensland Cup means for this season, but for beyond.
The Queensland and Australia representative was hopeful of extending his stay at the Broncos, but with no offer on the table and with salary cap constraints at the club that is looking unlikely.
The Broncos are also on the cusp of finalising a one-year extension for captain Adam Reynolds and a new multi-year deal for strike centre Kotoni Staggs.
The fact remains Cobbo, when in form, is a valuable asset for any club with his ability to play fullback, wing and centre with class and power.
He has experienced ups and downs before and has shown he can be a match winner on many occasions.
Cobbo, 23, has played his last two matches for Wynnum Manly Seagulls and has been named to play for the famous club against Sunshine Coast on Saturday, one day before the Broncos host Cronulla at Suncorp Stadium.
He was dropped by the Broncos and replaced by winger Josiah Karapani for the 44-14 win over Gold Coast a fortnight ago. Karapani scored two tries and has been retained for the Sharks clash after the Broncos had the bye in round 15.
Brisbane winger Jesse Arthars said Cobbo's axing meant all of the outside backs were put on notice by coach Michael Maguire.
"Madge (Maguire) always talks about how you're only renting the jersey, so the way I look at it is I just want to play consistent footy to make sure I hold onto a jersey," Arthars said.
"That's what everyone is trying to do in the team.
"Footy is full of surprises. You don't really want to see anyone getting dropped, but that's how it works.
"It's a business, but Selly is full of energy and always happy to be around.
"He's always performing at training and you guys (in the media) wouldn't see it but he's always doing things away from the field as well."
Arthars said Cobbo had not kicked stones since being axed from the side and backed him to return at some stage.
"Everyone's seen how good Selwyn is. He's played at the Origin level and done some awesome things for this club in the past, so I'm a big fan of Selly," Arthars said.
"I'm sure when he comes back he'll be firing and I can't wait to play with him again.
"Everyone knows he's pretty quiet, but he's always full of happiness. He just loves playing footy, at training he's always got a smile on his face and we're obviously just happy to have him here.
"He's doing all he can to get back in the team."
