Results 1 to 7 of 7

Thread: Knights in bid to become community owned

  1. 10-12-16, 15:29 #1
    jargan83
    jargan83 is offline
    Immortal jargan83's Avatar
    Join Date
    Jan 2007
    Location
    Earth Capital
    Posts
    21,543
    vCash
    626000

    Knights in bid to become community owned

    A GROUP of Newcastle businessmen have put forward a proposal for the Knights to become community-owned by raising at least $15 million in a share offering in the NRL club.

    The plan was made public on Saturday under the banner ‘Our Knights One Chance’ with the chief ambition for the embattled club to follow in the footsteps of the NFL’s Green Bay Packers and be owned by local fans.

    The Knights have been in the hands of the NRL since 2014 when former mining magnate Nathan Tinkler relinquished his three-year ownership of the club. The NRL last month announced it had rejected all bids to buy the Knights, who have struggled both on and off the field in recent times and collected this season’s wooden spoon after winning just one game.

    The group of seven local businessmen have asked for fans to register their interest in the proposal and if after three months there’s sufficient support, they will look to sell shares in the club.

    They will be for sale for $500 per share and shareholding will be capped at four per cent for each person or organisation.

    Knights fans have the chance to own the club they love. Picture: Peter Lorimer
    Knights fans have the chance to own the club they love. Picture: Peter LorimerSource:News Corp Australia
    It’s hoped the new ownership structure would be in place for the start of the 2018 season.

    Of the minimum $15 million that’s required, about half of that would be put towards addressing “current trading deficiencies and restructure the Knights operations for the first three years of operations”.

    The mission statement says the restructure would give the club back to the fans would have a vested interest in its success.

    “Over the last few years, our team has been let down by uncertainty and ownership changes. But let’s change that. Now is the time to make a stand,” reads an excerpt from the website ourknights.com.au.

    The Knights proposal comes just months after a similar plan was launched to save Super Rugby franchise the Western Force.

    RugbyWA announced a fan ownership model by selling 5000 “certificates” at $1000 each to raise $5 million and prop up the financially fragile club.

    http://www.news.com.au/sport/nrl/bid-to-make-newcastle-knights-a-community-owned-club/news-story/617436173f8a66fb24a15ae33b1d4b2f

    0 Not allowed! Not allowed!
    Reply With Quote Reply With Quote Posted via Mobile Device        
  2. 10-12-16, 17:32 #2
    shasta
    shasta is offline
    Immortal Contributor shasta's Avatar
    Join Date
    Feb 2006
    Location
    Mandurah
    Posts
    15,909
    vCash
    5626000
    What a good idea.

    0 Not allowed! Not allowed!
    "The main difference between playing League and Union is that now I get my hangovers on Monday instead of Sunday - Tom David

    Reply With Quote Reply With Quote Posted via Mobile Device        
  3. 10-12-16, 18:45 #3
    brokendown gunfighter
    brokendown gunfighter is offline
    Legend Contributor brokendown gunfighter's Avatar
    Join Date
    Sep 2005
    Location
    wembley
    Posts
    8,063
    vCash
    5484000
    who would have thunk that?

    0 Not allowed! Not allowed!
    Reply With Quote Reply With Quote     
  4. 10-12-16, 19:32 #4
    .X.
    .X. is offline
    Legend
    Apprentice Bookie     Contributor .X.'s Avatar
    Join Date
    Oct 2005
    Location
    Sydney
    Posts
    6,712
    vCash
    -14729739
    we should hit them up for a ideas fee

    0 Not allowed! Not allowed!

    Exile
    Port Macquarie


    "Let me tell you something you already know. The world ain’t all sunshine and rainbows. It’s a very mean and nasty place and I don’t care how tough you are it will beat you to your knees and keep you there permanently if you let it. You, me, or nobody is gonna hit as hard as life. But it ain’t about how hard ya hit. It’s about how hard you can get hit and keep moving forward. How much you can take and keep moving forward. That’s how winning is done! Now if you know what you’re worth then go out and get what you’re worth. But ya gotta be willing to take the hits, and not pointing fingers saying you ain’t where you wanna be because of him, or her, or anybody! Cowards do that and that ain’t you! You’re better than that!" - Rocky Balboa
    Reply With Quote Reply With Quote     
  5. 10-12-16, 19:46 #5
    jargan83
    jargan83 is offline
    Immortal jargan83's Avatar
    Join Date
    Jan 2007
    Location
    Earth Capital
    Posts
    21,543
    vCash
    626000
    Quote Originally Posted by Exile View Post
    we should hit them up for a ideas fee
    I assume RWA will be paying a fee to the Green Bay Packers then?

    0 Not allowed! Not allowed!
    Reply With Quote Reply With Quote Posted via Mobile Device        
  6. 10-12-16, 19:56 #6
    .X.
    .X. is offline
    Legend
    Apprentice Bookie     Contributor .X.'s Avatar
    Join Date
    Oct 2005
    Location
    Sydney
    Posts
    6,712
    vCash
    -14729739
    American ideas dont count - this is Straya.

    why so serious??

    0 Not allowed! Not allowed!

    Exile
    Port Macquarie


    "Let me tell you something you already know. The world ain’t all sunshine and rainbows. It’s a very mean and nasty place and I don’t care how tough you are it will beat you to your knees and keep you there permanently if you let it. You, me, or nobody is gonna hit as hard as life. But it ain’t about how hard ya hit. It’s about how hard you can get hit and keep moving forward. How much you can take and keep moving forward. That’s how winning is done! Now if you know what you’re worth then go out and get what you’re worth. But ya gotta be willing to take the hits, and not pointing fingers saying you ain’t where you wanna be because of him, or her, or anybody! Cowards do that and that ain’t you! You’re better than that!" - Rocky Balboa
    Reply With Quote Reply With Quote     
  7. 10-12-16, 20:22 #7
    shasta
    shasta is offline
    Immortal Contributor shasta's Avatar
    Join Date
    Feb 2006
    Location
    Mandurah
    Posts
    15,909
    vCash
    5626000
    Quote Originally Posted by Exile View Post

    why so serious??
    Soon as some of these blokes get into the Purple Circle it goes right to their heads.

    0 Not allowed! Not allowed!
    "The main difference between playing League and Union is that now I get my hangovers on Monday instead of Sunday - Tom David

    Reply With Quote Reply With Quote Posted via Mobile Device        
« Previous Thread | Next Thread »

Similar Threads

  1. McCalman's Wild Knights in Top league title fight
    By The InnFORCEr in forum Ben McCalman
    Replies: 12
    Last Post: 25-01-16, 08:30
  2. What is a Community Rugby ID?
    By The EnForcer in forum Public Bar
    Replies: 6
    Last Post: 27-07-12, 10:44
  3. Community Pre-sale Aus vs SA
    By MI5_Dog in forum Wallabies
    Replies: 0
    Last Post: 24-07-12, 12:56
  4. New community sponsorship
    By tdevil in forum Western Force
    Replies: 8
    Last Post: 11-03-10, 08:23
  5. League Newcastle Knights want Timana Tahu back from rugby union
    By travelling_gerry in forum Other Sports
    Replies: 17
    Last Post: 07-07-09, 17:00

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

Forum Rules