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20 hours ago
Struggling NRL club the Newcastle Knights have announced a major new sponsorship deal worth around $4 million over five years.
Advertising guru John Singleton and merchant bank Carnegie Wylie have combined with local brewery Bluetongue to become the Knights' major sponsor until 2010. Knights CEO Ken Conway says the deal will draw a line under the financial woes that have historically dogged the club.
Singleton expects the deal will create 50 jobs for the local community with the installation of beer tap lines at the club. It is the second major financial coup for the Newcastle club in recent weeks, with the announcement a month ago of a $1 million-a-year commercial partnership with local leagues club Wests.