Knights respond to take over speculation

The Newcastle Knights today responded to media speculation concerning an offer for the club by businessman Nathan Tinkler. <br><br> Contrary to media speculation there is currently no formal offer to acquire the club. While we have been in productive discussions concerning a proposal to acquire the club, and there is much common ground, these discussions were brought to a close by Mr Tinkler and his offer withdrawn. <br><br> The offer previously under consideration was for a maximum investment “of up to $10 million” over a ten year period. <br><br> 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. <br><br> “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. <br><br> “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. <br><br> “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. <br><br> “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.”