Knights deal hits roadblock

Talks between businessman Nathan Tinkler and Newcastle chiefs to buy the club have broken down, after a multi-million dollar offer was withdrawn.

Knights bosses revealed that although there have been “productive discussions” between the two parties, there is no formal offer currently on the table.

A maximum investment offer of ‘up to $10million’ over a ten year period seemingly failed to impress the Knights, and the offer was withdrawn.

Commenting, Knights Chairman Rob Tew said: “We are prepared to consider any reasonable offer which would deliver a better outcome for our many important stakeholders and would welcome the opportunity to reopen discussions with Mr Tinkler.

“As a community club, any offer for the club would need to be carefully considered and properly debated by our more than 8,000 members in an appropriate forum.  Such a process would take time.

“In particular we would have to consider the impacts of any proposal on our existing sponsors and the financial wellbeing of the club as a whole.

“We believe Mr Tinkler’s interest in acquiring the Knights is active demonstration of the inherent value of the Club and its turnaround financial performance during the past two years.

“Last year, the Knights was one of only three clubs in the NRL to post a profit – and we consistently grew our sponsorship revenues and membership numbers during that period.”