Could the sanctions cripple the Sharks?

Cronulla have been struggling financially of late and posted a $3 million loss from last season, despite a $13 million grant from the NRL.It meant the club recently laid off 10 staff members in what Russell described at the time as a “business restructure”.The club also has no major sponsor for 2019 and now must factor in a $800,000 fine and possible further salary cap breach sanctions. “They’ve got an opportunity to respond (to the sanctions), so it’s a preliminary view,” Greenberg said.“They’re obviously going to give us some mitigating
circumstances, but I can’t look at it from the prism of their financial situation, I can only look at it through the prism of the Integrity investigation.“ ... They’re due to send us some information about the solvency of the club and their financial and cash flow.“From what’s presented in front of me, I’m confident they’ll have the right steps in place for next year.”The Sharks also addressed their financial concerns on Wednesday.“In relation to the fine imposed and the club financial situation, significant progress has been made over recent weeks, shoring up our financial security, with the Sharks confident that they will navigate the current challenges,” the club said.