The NRL has set up a "Divestment Committee" to determine the best process for the sale of the Newcastle Knights.
Head of Club Services Tony Crawford said the NRL had always made it clear that it is not a long term owner of any club.
But he said stronger financial, operational and governance structures were now in place at the Knights and it was the right time to look at the best method of ownership transition.
"A sale will only proceed when we have the right buyer for the club, the Newcastle community and the game," Mr Crawford said.
"I should stress that a sale of the club is not imminent.
"But this committee will recommend the most appropriate way of transitioning the ownership of the Knights at the appropriate time."
The committee will be comprised of:
• Todd Greenberg (NRL CEO)
• Brian McGuigan (Knights Chairman)
• Tony Crawford (NRL Head of Club and State Services)
• Eleni North (NRL General Counsel)
• John Quayle (Knights Director)
• Eileen Doyle (Knights Director)
• Peter Shear (Knights Director)