The financially beleaguered Cronulla Sharks National Rugby League club have taken another step on the road to recovery with the addition of Coldwell Banker as a new shirt sponsor.

Coldwell Banker's logo will appear at the top of the back of the team's shirts. The agreement is for the 2010 season, but includes options to renew for another two years. Coldwell Banker is one of the world's leading brands for the sale of million dollar-plus homes.

• Sharks sign another sponsor

"This major signing demonstrates we are in good company for the years ahead," said Sharks chairman Damian Irvine. "From this sponsorship we are confident in consolidating many of our loyal sponsors and vigorously pursuing a membership drive that will give us a great base to work from in 2010."

Alex Caraco, chief executive of Coldwell Banker, added: "With real estate offices in Sydney, Brisbane, Cairns ,the Gold Coast and Melbourne, as well as in Perth, it was instinctive of our business to associate ourselves with a national sporting sponsorship at some stage of our development and rugby league at the elite level made good business sense."