Tonight amongst other matters, the Board of the Newcastle Knights has considered two funding proposals. <br><br> A funded Patron’s Trust model which comprised of a commitment of funding over 5 years and the revised Tinkler Group offer. <br><br> The Tinkler Group offer is a 10 million dollar per annum guaranteed sponsorship for 10 years and is a significantly higher financial commitment than the previous Tinkler Group offer and is a superior offer to the patron’s trust model. <br><br> As a consequence – tonight the Board of the Newcastle Knights have agreed in principal, to the revised Tinkler Group offer subject to further negotiations on detailed matters which will form part of an anticipated completed agreement. <br><br> The Board of the Knights agree to make all reasonable endeavours to reach agreement on the detail and present the proposed agreement to the members for their determination in March 2011. <br><br> There are a number of details which require further clarification but we are optimistic we can reach a commercially realistic outcome. <br><br> The Board has agreed to the Chairman and Chief Executive, meeting with representatives of the Tinkler Group to further negotiations in order to reach agreement. <br><br> This is a critical matter for the Knights and it is most important that we give it appropriate consideration and take the time necessary to ensure the best outcome for our members, sponsors, staff, players and other important stake holders.