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SBD Global/June 20, 2013/Finance

National Rugby League Newcastle Knights Safe As Nathan Tinkler's Bank Guarantee Remains

National Rugby League Newcastle Knights' immediate future "appears safe," with Australian billionaire Nathan Tinkler's A$10.3M ($9.6M) club bank guarantee remaining despite the sale of his interest in Whitehaven Coal, according to Robert Dillon of the SYDNEY MORNING HERALD. Wednesday's revelations "that the embattled Hunter Sports Group had exited his coal company sparked speculation about the future of his two football flagships, the Knights NRL club and the A-League's Jets." An NRL spokesperson said that rugby league's "governing body was 'monitoring' the situation." Knights CEO Matt Gidley said that "the sale of Tinkler's shares would not affect the Knights." Gidley: "The sale of shares in Whitehaven at a 40 percent premium is a positive for everyone and will have no impact on the Knights nor Nathan's commitment to the team and Newcastle." Football Federation Australia has been assured by the Hunter Sports Group that it is business as usual for the Newcastle Jets (SMH, 6/20).
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