Property tycoon Medich likely to face retrial in NSW

Sydney millionaire property developer Ron Medich is likely to face a retrial after a jury wasn't able to reach a verdict in his murder trial.

Property tycoon Ron Medich has been sentenced to 39 years jail. Source: AAP

Sydney property tycoon Ron Medich will almost certainly face a retrial after a jury was unable to decide whether he murdered his business rival.

Justice Geoffrey Bellew on Thursday discharged the NSW Supreme Court panel, which had deliberated for almost three weeks, after jurors declared in a note their impasse was unlikely to change.

The 69-year-old had denied claims he financed the contract killing of Michael McGurk and directed his former friend Lucky Gattellari to organise the September 2009 shooting.

He also denied intimidating Mr McGurk's widow in August 2010.

Medich will need to report to police each Monday and Justice Bellew stood the matter over for directions on May 1.

Medich's barrister Winston Terracini SC said in court it was almost certain he would face a retrial.