In a statement, the Dragons announced they were “actively pursuing other options” in regard to further ownership, however, maintained WIN would continue sponsorship arrangements with the NRL club ownership. 

“The Dragons board remains committed to ensuring they identify the right partner for the long-term, and are confident that the 50 per cent sale will be completed this year,” a club statement said. 

Negotiations have been ongoing for more than two years, after owing more than $6 million to the NRL to continue as a viable top-flight operation. 

The off-field setback comes as the Dragons sit on top of the NRL ladder with five consecutive wins, heading into Friday night’s showdown with bitter rivals the Sharks at WIN Stadium.

It appeared Gordon was prepared to back the NRL club little more than 12 months ago, but ongoing issues with the then ownership of Network Ten delayed negotiations. It has been reported cashed up Qatari Sheikh Faisal Bin Qassim Al Thani could be a buyer to bail the Dragons out.

The ongoing ownership issues come as long-serving Dragons chief executive Peter Doust has announced he will stand down at the end of the season. 

The ongoing saga comes as Southern Expansion and the Wollongong Wolves fight for a potential A-League licence, as they pursue cashed-up backers, with Gordon involved in discussions for a number of years. 

In 2008, Gordon launched a $2.6 million property deal which helped bail out the Steelers Club, a debt owed to the St George Leagues Club, as part owner of the Dragons joint venture