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Old 01-19-2011, 06:43 AM   #123
East Side Guru
Join Date: Feb 2005
Location: Sydney, Australia
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Default Re: Official 2011 Aussie NRL Thread

I never knew Ethan Suplee was a rugby league fan...

Newcastle Knights board gives tick to mining magnate Nathan Tinkler's offer to buy club

  • AAP
  • January 19, 2011 10:06PM
Nathan Tinkler ... moving closer to ownership of NRL club Newcastle Knights. Source: News Limited

The board of NRL club Newcastle Knights has given an in-principle approval of mining magnate Nathan Tinkler's $100 million offer to buy the club.

A club spokesperson confirmed that a funded patrons model had also been tabled at the board meeting on Wednesday night but was rejected in favour of the millionaire magnate's plan.
Chairman Rob Tew said the board would put Tinkler's buyout plan to members by March as time was needed to sort through a number of other issues.
The offer from Tinkler guarantees the club at least $10 million a year in sponsorship revenue for the next 10 years and wipes out their estimated $4 million debt.
Just two months ago, Knights chairman Tew rejected a $10m offer from Tinkler for the licence but he substantially increased that amount and won the board over.

Last edited by pecks; 01-19-2011 at 04:57 PM.
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