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The National Rugby League (NRL), the Hunter Sports Group (HSG) and the Members Club are continuing to work through a unified business model for the Newcastle Knights.
The NRL issued the following statement on Monday:
The NRL said today it would be business as usual at the Newcastle Knights while further talks are held on the club’s future ownership and operating model.
NRL Head of Club and State Services, Mr Tony Crawford, said the Knights Members Club and the Hunter Sports Group had agreed to hold off any further action in relation to the club’s ownership while the NRL holds discussions with both parties.
“The Members Club has agreed to defer any move to transfer the ownership of the club so commercial discussions can take place,” Mr Crawford said.
“Those discussions will be led by the NRL.
“In the meantime, it is business as usual for the Newcastle Knights.
“This will give all parties a chance to explore all options which are in the long term interests of the Knights.”
The negotiations will be confidential and could take some time to complete. None of the parties will make any public comment until they are completed.
The Knights remain focussed on the operations of the Club and will not be involved throughout the confidential negotiation process.
As Knights’ management is not involved in the process, there will be no further comment from the Club until negotiations are complete.
The bank guarantee ($10.52 million) has been transferred into a joint-signatory bank account between the HSG and Members Club.