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A third Cronulla Shakrs director has handed in his resignation, as the NRL continues to look into the salary cap issues at the club, according to the Sydney Morning Herald.

Paul McCarthy, who was a member of Cronulla’s audit, risk and compliance sub-committee, spoke to the Sharks’ board earlier in the week and tended his resignation with immediate effect.

McCarthy joins Craig Ayrie and Paul O’Neile in exiting the club over the past three months, with McCarthy only in the position for less than nine months, after joining the board in March of this year.

The NRL’s investigation into the club’s salary cap stems from the Sharks’ self-reporting six months ago.

Cronulla CEO Barry Russell was believed to have contacted the league after finding an undisclosed payment, although the NRL still need to determine if that was the only breach of the salary cap, or if the Sharks have more to answer for.

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