First Valentine Holmes walks out in order to chase an NFL contract, and now the Sharks will be nervously waiting on the future of their co-captain Wade Graham.

With the salary cap investigation still happening at Cronulla, the back rower won't negotiate with the Sharks until the investigation is completed and he finds out about coach Shane Flanagan future plans.

However, he is free to speak with other clubs if he wishes to.

The 28-year-old's next contract is set to be the biggest one he has ever received. Cronulla are aware of this and have plenty of room in the salary cap with the departure of Holmes as he didn't take the $4 million over five year offer.

Many clubs would be interested in the experienced player as Graham is one of the powerful second rowers in the league.

He is set to miss the first half of the season due to an ACL injury but he believes the club needs to sort out a few things before he talks about his future.

"There's a bit going on at the club, there's still the salary-cap investigation to finish up, and hopefully that can be resolved soon,'' Graham told Fairfax Media.

"Secondly, 'Flanno' hasn't secured his future yet, and the coaching future beyond next year is up in the air.

"I'm on the sidelines for at least another seven months, so there's plenty of time for me to work hard in the gym and get my body right and get ready to play again and then sort out my future.

"I understand where the club is at, there's no need to rush it. We'll get through the other priorities first and then we can look after me.

"Stability is a massive thing in my opinion. If you look at the successful clubs like Melbourne, the Roosters and us over the last four or five years, it's because there's been stability in the football departments. Coaches have a plan, a development plan, and they look to the future. I'm definitely looking for stability around the club.''

Graham will be ruled out of Origin contention as well as round one as he looks to return against Parramatta in round 13.

Gallen approached Flanagan during the off season and told him to promote Graham as captain even though he is out for half the season.

"Gal has had such a big influence on me throughout my career,'' he said.

"For Gal it's set in stone now this is his last season.

"If the opportunity is there for me to free him up from some of his responsibilities so he can sit back and enjoy his footy and last season for Cronulla, which he thoroughly deserves, I'll more and happily take on that role.''

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