“I’ve got an open mind in what we do as far as sponsorship goes,” Russell said. Negotiations: Michael Ibrahim outside Sealevel restaurant. Credit:James Brickwood “I’m happy to talk to anybody, anytime, anywhere. “I don’t know if anything will come of it but there was an introduction through a third party who is doing some business with him. “I’m reaching out to a lot of contacts in particular, not only about our major [sponsorship] but all our properties.

“The best way to have success in the market we’re in is through introductions.” Loading Like almost all NRL clubs, Cronulla remains in the red. It was widely believed that the ongoing redevelopment of the precinct around Cronulla's leagues club would guarantee the Sharks’ future. However, sources claim it it will not provide as great a financial windfall as many believe and that privatisation is the best chance to extinguish a seven-figure debt. Ibrahim has already attempted to purchase two NRL clubs. He made a $12 million pitch to buy Manly, a price industry experts believe is fair given the on- and off-field troubles plaguing the Sea Eagles. However, Manly chairman Scott Penn declined, declaring the club is not for sale. Ibrahim’s attempts to purchase the Dragons have also come to nought. But after lucking out in Wollongong and the northern beaches, Ibrahim is believed to be interested in making an offer for their fierce rivals Cronulla.

Even if Ibrahim’s backers and Cronulla officials settled on a price, there are potential impediments to the sale. The club’s members will have the ultimate say on whether the franchise is privatised, with its constitution providing similar safeguards to South Sydney, which was ultimately sold to Russell Crowe and Peter Holmes a Court in 2006. The members may be swayed to green-light privatisation if they were concerned Cronulla’s financial position was precarious enough to threaten their long-term existence in the Shire. On the move: Barry Russell leaves the meeting. Credit:James Brickwood The sale could allow the Sharks to tap into the incredible wealth of the Middle East. The next FIFA World Cup will be held in Qatar and the region wants to be known as one of the world’s major sporting hubs. Some of the world’s largest football clubs – including Manchester City and Paris St-Germain - have benefited from the sums pumped in from their owners. As the co-founder of Aqeeq Holdings and MJ Masha, Ibrahim has experience in sealing big deals. He already ships up to 50 containers of Australian goods worth up to $25 million to the Middle East each month and has links with some of the world’s richest families. He is also a passionate rugby league fan behind a push to bring international matches, including those featuring the Kangaroos, to Qatar. It’s expected there will be further talks between Russell and Ibrahim.

“A good friend of mine knows him from doing business with him,” Russell said. “It was just a quick meeting. He’s not personally looking to sponsor the club. But he may be able to help me by way of introductions.” Asked about the prospect of the club being privatised in the future, Russell said: “I wouldn’t have thought at the moment. “Like any club we have our challenges but with some of the changes we’re making internally, we’re going to be in great shape. “For me, the prospects of the club are awesome. We own our own ground, we’re going to have a brand new club. It’s just taking a bit longer than we’d like.

“The next 10 years could potentially be the best of its history.”