Former Cronulla Sharks chairman Damian Keogh denies he has a problem with drugs after he was charged with possession of a prohibited substance.

Keogh, a three-time Olympic basketballer, stood down from his role with the Sharks on Saturday after he was arrested the previous night at a Woolloomooloo pub in inner-city Sydney.

Police searched the 55-year-old and allegedly located a small resealable bag containing a quantity of white powder, which was believed to be cocaine.

He is expected to appear before Downing Centre Local Court on June 30.

Keogh, speaking to the media for the first time since his arrest, said he was facing a challenging time with the support of his family.

“I don’t have a drug problem, people who know me know this isn’t me, it’s not what I’m about,” he told Channel Nine.

“I’m very fortunate to have great family who are very supportive.”

Keogh, who is also the chief executive of the Hoyts group, said the events of the past few days had taken a toll on him and his family.

“It’s obviously been a very distressing time personally for my family and I’ve just been bunkering down and trying to register things,” he said.

“I’ve stood down as chairman of the Sharks to try and distance myself from that at this stage. The club is in great shape and they’ll move forward and just see how things go.”

Keogh’s arrest comes at a time when the NRL is dealing with more than one drug-related incident.

Gold Coast Titans co-captain Kevin Proctor and New Zealand Kiwis captain Jesse Bromwich have stood down from their roles in response to an alleged drug incident in Canberra.

Roosters player Shaun Kenny-Dowall was arrested for drug possession last week after he was caught with almost half a gram of cocaine at a Sydney nightclub.