Cronulla coach Stuart Raper is set to be sacked after an extraordinary meeting of the Sharks NRL board.

It is said Raper will be paid out the final year of his contract, rumoured to be in the vicinity of $200,000, with the Sharks likely to call a press conference Friday morning to announce the decision.

Raper's sacking would bring to an end weeks of speculation as to his future at the Sharks after he guided the club to 10 straight losses to end the season.

The Sharks slumped from fourth to 10th as a result and missed out on the playoffs.

Test and former Sydney Roosters coach Ricky Stuart is the front runner to replace Raper at the Sharks, but his manager John Fordham denied any deal had already been done.

"Ricky is not prepared to comment on speculation concerning the Sharks' coaching position," Fordham told News Limited.

"That's something for the Sharks and Stuart Raper to address.

"Ricky is a career coach and his goal is to continue coaching in the NRL if the right circumstance come along in the future."

The Sharks board was presented with a report from consultancy organisation Mercury Group following the completion of their independent review.

It is not yet clear what part the report may have played in deciding Raper's future.

Raper will become the second Sharks coach in three years to be shown the door before his contract is up following the sacking of Chris Anderson in 2003.

Sharks officials were unavailable for comment following the board meeting.

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