NRL says the future of the Newcastle Knights is not in jeopardy despite the Australian Tax Office applying for a liquidator to be appointed to the club. Liquidation.. sure the media are just pumping it up but doesn't sound too great for the longterm future as a big spending club. Knights will survive though.
Ahh Newcastle....so Bennet. Time to come to the Warriors as some sort of assistant coach.
The nrl forced Tinkler or Hunter sports to come up with a $20m bank guarantee before allowing the sale to him. I'm not sure what that is exactly but I'm going to guess this somehow involves having a $20m get out of the shit fund. The tax bill is only $1.4m so they still need to rack up another $18.6m of bills before the get out of the shit fund runs out, so I'd say they're pretty safe.
that ex knights chairman was a smart man. $20mill bank guarantee for first 2 years and $10mill every year after that. plus a $1 buy out clause if tinkler goes insolvent. and he had to push to get that in there. i bet the clubs members are glad he pushed now