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SBD Global/June 10, 2014/Franchises

NRL To Take Control Of Newcastle Knights, Guaranteeing Club's Financial Future

The uncertainty surrounding the future of National Rugby League side Newcastle Knights "will become clearer on Tuesday with the NRL poised to announce it will take over the running of the club following the departure of former owner Nathan Tinkler," according to Barry Toohey of the Sydney DAILY TELEGRAPH. A "marathon meeting" between the NRL and representatives from the Knights Members’ Club at League Central on Monday "paved the way for an agreement to be reached in principle for the game’s governing body to assume full control of the club." Once the legal paperwork is signed off on, the NRL "is expected to step up negotiations with Wests Group with a view to them becoming a major player in a new ownership model that will guarantee the Knights financial future." Until then, the NRL "will bankroll the club and meet all ongoing costs including the monthly wages for all players and staff that are due to be paid on Friday" (DAILY TELEGRAPH, 6/10).
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