More details are emerging on the Cronulla Sharks’ financial woes, after the club yesterday sacked 10 staff members following a $3 million loss on the 2018 season.

That move should save $1.5 million, but the club faces around a $2 million revenue hit after the loss of key sponsors Opal Solar (front of jersey), Bang and Olufsen (back), and Martec (sleeves).

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According to The Daily Telegraph, the club nearly secured a $6 million major sponsor for the next five years, but it fell through following Andrew Fifita and Josh Dugan’s antics on a podcast three months ago.

Round 20

But in some positive news for fans, The Daily Telegraph has reported the club will spend their entire salary cap next season, with chief executive Barry Russell saying “The board is committed to spending 100 per cent of the cap.”

That is likely to include ex-Warriors halfback Shaun Johnson.

NRL boss Todd Greenberg confirmed there would be no more cash coming from the governing body to bail out the Sharks.

“We’re keeping a very close eye on the issues at Cronulla. I’m confident in their leadership that they’ll do what’s required,” he said.

“I’m on record as saying and I’ll say it again — the NRL will not be bailing out clubs in the next phase of their financial cycle. They’re matters for clubs.

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“Clearly Cronulla are going through a difficult spot but we’re confident they’ll find their way through it.”

Asked what would happen if the club did go require financial assistance or risk collapse, Greenberg said: “That’s a question for the club.

“But I don’t see that being a reality at the moment. I see them making some hard financial decisions in order to ensure their financial stability.

Pressed on whether relocation was an option, Greenberg said: “I’m not going to talk about what-if or what might happen.

“What I’m saying to you is that Cronulla are going through some difficulties and they’re managing their way through that.”