Rugby league boss Todd Greenberg doesn't feel the Cronulla Sharks are on the brink of collapse but at the same time reiterated that the NRL is not bailing any club out of financial trouble.
The Sharks have hit several financial hurdles since they won the Telstra premiership just two years ago and this week let go 10 administration staff as one cost-cutting exercise.
But Greenberg made it plain during the launch of the Downer Rugby League World Cup 9s in Sydney on Friday that Cronulla had to determine its own future.
"Ultimately these are decisions for clubs. We are keeping a very close eye on the issues at Cronulla
I'm confident in their leadership that they'll do what's required," Greenberg said.
"I'm on record as saying, and I'll say it again, that the NRL will not be bailing out clubs in this next phase of the financial cycle.
"Clearly Cronulla are going through a difficult spot but they'll find their way through it."
The prospect of the Sharks going broke was not one that Greenberg envisaged.
"That's a question for the club but I don't see that as being a reality at the moment," he said. "I see them making some hard decisions in order to ensure their financial stability.
"I'm not going to talk about 'What if?' or what might happen," Greenberg added, when asked if relocation could be an option.
"What I'm saying to you is that Cronulla is going through some difficulties and they'll manage their way through it. And we will keep a close eye on it."
In 2017 Cronulla lost $3 million and the figure for 2018 is expected to be in the same ballpark. The residential and commercial development on the Sharks land adjacent to their home ground is paying dividends but not fast enough to keep pace with other loans and expenditure.
The Sharks also lost their front-of-jersey sponsor at the end of 2018 season when Opal Solar decided not to take up an option for 2019.
The dire predicament forced the Sharks board headed by chairman Dino Mezzatesta and CEO Barry Russell to make the 10 redundancies.
"We needed to do this business restructure to ensure our long-term future," Russell told NRL.com.
"We are under financial stresses at the moment that we need to address. Unfortunately this is necessary. I admit the timing is very poor.
"It is sad and I'm very disappointed. And I realise it leaves us with a lean team but we're a very competent group and we're striving hard for a successful 2019 season."
Russell said commercial revenue was the priority area now for the club. The jersey front brings clubs around $1 million per annum in revenue.
"We've got a number of major properties available. Everyone is working hard behind the scenes to secure some long-term sponsors.
"Our goal is a new front-of-jersey sponsor by the start of the new season. We intend to make that a reality."
Signing New Zealand Kiwis half Shaun Johnson from the Warriors is another item the Sharks hope will happen to bolster the club's on-field fortunes.
The players salary cap is separate to the club's administration costs.
An offer has been made to the 28-year-old but it is unlikely to be finalised on Thursday, as head coach Shane Flanagan is attending the annual NRL coaches conference at the Moore Park headquarters.