Club Statement

The Sharks accept the Integrity Unit findings as announced by the NRL today and are pleased that we now can move forward with the salary cap matters closed.

Sharks CEO Barry Russell in accepting the penalties, expressed his pride in the systems now in place and in the processes that led to us to self-reporting a potential breach of the NRL rules.

“We now have best governance practices, have learned some hard lessons during this process and I’m confident the systems we have in place will ensure this doesn’t happen again,” Russell said.

“By applying discounts to the fines imposed, a reduction of $300,000 on appeal to our original 2014 fine of $800,000 and $500,000 of the $750,000 suspended on the salary cap breach, we acknowledge the NRL for recognising our self-reporting and our continued cooperative approach with their subsequent investigations.

“We have no plans to appeal, will deal with the consequences of the fines and punishments and take the positive in that we can now move ahead into the new season and into the future with these matters behind us,” Russell added.

In relation to the 2019-2020 Salary Cap sanction, management and coaching staff, with guidance from our salary cap and recruitment managers, will come together to ensure we are fully compliant as stipulated by the NRL before our round one game on March 15.