St George Illawarra have put a $10 million price tag on a 50 per cent stake in the joint venture, as negotiations continue with the WIN corporation.

Fairfax Media understands discussions have stepped up in recent weeks between the Dragons and WIN television owner Bruce Gordon, in a bid to privatise part of the club.

It is the Illawarra share of the joint-venture that is up for sale, with St George to maintain their 50 per cent hold of the Dragons.

It is understood the club was recently valued at about $20 million.