Sharks in turmoil after chairman resigns due to drug allegations

Cronulla Sharks chairman Damian Keogh has been forced to stand down from his role after being charged by police with possession of a prohibited drug.

According to the Daily Telegraph, Keogh was searched by police last night about 7.50pm when officers found a small plastic resealable bag of a substance believed to be cocaine.

He was charged with possessing a prohibited drug and issued with a future court attendance notice in June.

The Sharks have released a statement confirming that Keogh has stepped aside from his role to allow him to address the allegations.

Keogh's arrest comes just 48 hours after Sydney Roosters player Shaun Keny-Dowall was also arrested on the same charge.

Read the full club statement below:

Our Club advises that Chairman Damian Keogh has stepped aside in his role to allow him to address allegations of possession of an illegal substance.

Given the challenging personal nature of this matter, Damian is not currently available for comment.

Club CEO Lyall Gorman will be addressing the media later today.