The Sharks were expected to pull out of their inaugural Newcastle Rugby League campaign at a committee meeting last night after losing potential backers in recent weeks.

But a potential lifeline came yesterday morning and the Sharks, who are replacing the debt-ridden Northern Blues in the competition, are pressing on with their campaign.

Newcastle Rugby League chairman Trevor Crow and deputy chairman Steve Doran attended the Sharks’ meeting and training session last night in Salamander Bay.

Sharks president Wayne Humphrey and Crow would not reveal the details of the potential financial boost.

‘‘The project still lives. We’re very happy,’’ Humphrey said.

‘‘Another funding opportunity was raised at the 11th hour and we’re exploring that.

‘‘We are very committed to getting first-division league to survive in the Port Stephens area, and we are getting a lot of help from the Newcastle Rugby League.’’

Humphrey said the opportunity had put the club in a position to continue but ‘‘the success of the club will be dependent on the success of these latest funding opportunities’’.

Crow said the major funding opportunity had caught the league by surprise.

‘‘It’s very important we have footy north of Hexham Bridge. It encompasses such a big area and it’s important we show support,’’ Crow said.

‘‘We hope this left-field opportunity comes off because these volunteers up there have put so much time and effort into making sure Port Stephens Sharks are established and survive.’’

He said it was also important to avoid a nine-team competition.