Cronulla have rejected the Tynan Motor Group's major sponsorship proposal despite the club slashing its asking price 50 per cent since last month.
The Sutherland Shire car dealership made a final pitch to the Sharks, the only NRL club without a major backer, on Wednesday night. However, Cronulla refused the offer, claiming it was too low.
"They are a current corporate hospitality partner and are good supporters of the Sharks," said Cronulla's general manager of commercial operations and marketing, Patrick Woods. "We met and discussed a potential partnership opportunity for our major front-of-jersey asset but unfortunately we haven't come to terms.
"We had a target figure for the front of jersey and that has been reviewed since the ACC press conference and adjusted accordingly. There has been a reduction of 50 per cent.
"We negotiated in good faith but we were a long way short."
The offer was tabled by Madeline Tynan, the marketing director and dealer principal for the Chrysler Jeep Dodge Tynan Motor Group.
Ironically, Tynan's offer was rejected by a board she attempted to join herself at the 2009 elections. It is unclear whether she will attempt to become a director at the upcoming ballot.
Despite a strong recruitment drive that netted star players Luke Lewis, Beau Ryan, Chris Heighington and Michael Gordon, the Sharks remain without a major, sleeve, shorts and stadium sponsor. They were close to announcing a sleeve sponsor, but that deal is put on hold as ASADA investigates claims up to 14 players used performance-enhancing substances.
"We don't want anybody getting on board under false pretences," Woods said.
Asked if the club was in a position to be knocking back corporate support, Woods said: "[The offer] was a fair way away from where we needed to be."