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SBD Global/July 4, 2012/Facilities

Australia Rugby's Cronulla Sharks Closer To Securing Long-Term Future

Australian Rugby League Cronulla Sharks have "moved another step closer to securing" their long-term future after the New South Wales government recommended the approval of the club's $300M redevelopment proposal, according to Stuart Honeysett of THE AUSTRALIAN. The NSW's Department of Planning and Infrastructure decision means the application will now "be considered by the independent Planning Assessment Commission withing eight weeks." If the application is approved, the Sharks will receive "a cash injection of $10M" within 90 days that will "help clear their existing $13M debt" to developers Bluestone Capital Ventures (THE AUSTRALIAN, 7/4).
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