Photo: Getty Images
Newcastle will remain in the hands of the NRL after the NRL announced it will not be accepting any of the current bids to take over the struggling club.
Earlier this year, the NRL took a step towards the sale of the Newcastle Knights, forming a committee to make a recommendation on the transition of ownership at the club.
There still remains no timeframe for the sale of the club, however the NRL released a statement today saying a sale will only proceed when they have the right buyer for the club.
"We have always said any new ownership of the Knights must be good for the Club, good for the community and good for the game," said NRL chief Tony Crawford. Read the full statement below.
The Knights recently announced two new sponsors, with nib becoming a Naming Rights Sponsor, and McDonald Jones Homes signing on as a Sleeve Partner.
The NRL took over the ownership of the club after the downfall of Nathan Tinkler's Hunter Sports Group in June 2014.
Newcastle has had a busy off-season in the NRL player market, signing former Manly prop Josh Starling, Jamie Buhrer, Rory Kostjasyn, Ken Sio and just recently Cowboys sensation Kalyn Ponga.
Knights Official Statement
Newcastle coach Nathan Brown with marquee signing Trent Hodkinson Photo: Getty Images
Three months ago the NRL established a Divestment Committee to explore new ownership options for the Newcastle Knights. This sale process was led by professional services firm Deloitte’s.
Today, the Divestment Committee has announced that the sale process has concluded and the NRL will not be accepting any of the current bids. The Club will therefore remain under NRL ownership.
“We have always said any new ownership of the Knights must be good for the Club, good for the community and good for the game.
"Based on that criteria, and despite receiving offers from a number of interested parties, the NRL has decided to retain ownership of the Knights until such time as the divestment criteria is satisfactorily met,” said NRL CFO and Head of Club and State Services Tony Crawford.
Newcastle Knights CEO, Matt Gidley, stated, “Firstly, we wish to thank the NRL and the members of the Divestment Committee for their management of the sale process.”
“The decision not to proceed with any of the available ownership options at this time underlines the NRL’s commitment to ensuring our Club and community benefits from the right new, long-term ownership structure."
"I would also like to recognise the strong support shown by our corporate partners and Members during the divestment period.
“We have recently announced two significant new partnerships, with nib becoming our Principal and Naming Rights Sponsor, and McDonald Jones Homes signing on as our Sleeve Partner.
“We have also surpassed more than 8,500 members and launched our Sacred Ground campaign to kick start the 30th year celebrations of the Club.
"This support positions the Club well for 2017 and we remain completely focused on next season and our long-term success."
The Club will continue to provide any further updates concerning long-term ownership to Members, partners and fans.
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