Recent speculation suggests that the Steelers may rise again and stand alone in the NRL. Supporters of this theory claim that the club will dissolve the joint venture at the end of the current joint venture contract (2010) and build towards an eventual return, with the backing of a "white knight" or a major consortium. Others claim that this push may be a ploy to pressure St George into making further concessions to the Illawarra, as St. George can not afford to lose the flow of Illawarra juniors. Many other clubs would almost certainly be interested in securing the flow of Illawarra juniors. However, some in the St. George side of the venture argue that they could stand alone in the NRL for the short term without drawing on the Illawarra juniors for players. Currently, both views would seem unlikely and the joint venture would appear safe for now.
Of note, the Illawarra Steelers club members voted unanimously to allow the sale of 20% of the club premises to a company owned by Bermuda based Wollongong billionaire Bruce Gordon. The sale fetched the club $2.6 million, allowing Illawarra to clear all debts to St George[2]. Also, after a complete overhaul of its business operations, the Steelers leagues club has been trading profitably this financial year.
