Tinkler and the Knights

[Titanic]

I wonder if May will provide that sort of backbone for us?

[Toads]

NSW Government chasing Nathan Tinkler for $1.2m in stadium rent

Phil Rothfield
The Daily Telegraph
October 23, 2012 12:00AM

HE was once one of Australia's richest men - now Nathan Tinkler's refusing to pay the full amount of ground rental for his NRL and A-League teams.

Cash-strapped businessman Nathan Tinkler owes the NSW Government $1 million and has had to negotiate a repayment deal to settle the debt. The now Singapore-based Tinkler has been in dispute for several months over homeground rental for the Newcastle Knights and Newcastle Jets.

Revelations of the money owing were raised when Sports Minister Graham Annesley was questioned at a recent budget estimates meeting.

It comes a week after LeagueCentral revealed Tinkler was late with player payments, superannuation and staff wages at the Knights. After months of negotiations, Hunter Sports Group has agreed to pay more than $880,000 but is still disputing another $400,000 of the $1.2 million debt.

Other NRL clubs Parramatta and St George-Illawarra play at government-run grounds but are up to date with their payments.

In a deal struck last week, Hunter Sports Group has agreed to pay $583,000 due by October 31 and another $300,000 by November 21.

HSG also owes third-party payments to players that have to be settled within 10 days.

In May, BRW estimated Tinkler's wealth at $915 million, and he was once Australia's richest man under 40.

He is in court today on another matter after failing to comply with an order to pay building company Mirvac $17 million to settle a property deal. Mirvac has lodged a contempt of court order to seize Tinkler's assets, which could involve taking thoroughbreds from his Patinack Farm racing empire.

Tinkler's chequered sporting history

The Knights' position is secure because of a $20 million bank guarantee negotiated by the club's former CEO Steve Burraston, but the Newcastle Rugby League is still owed more than $100,000 in a junior development grant.

Annesley and former NRL boss John Quayle have been in talks with Knights executives about the money owed.

"Although the discussions with Hunter Sports Group have taken longer than I would have liked I'm pleased we have now reached agreement on the bulk of the debt," Annesley said. "Discussions are continuing regarding the remaining $400,000 in dispute."

Annesley told a budget estimates meeting last week the money was owed for use of the stadium and catering services.

Hunter Sports Group spokesman Richard Fisk confirmed Tinkler had withheld payments for ground rental because of the dispute.

"As part of ongoing negotiations for a new 10-year hirer's agreement with Hunter Venues, some payments have been withheld by HSG, subject to the finalisation of the new agreement," Fisk said.

"Negotiations are anticipated to be completed within the next fortnight, with two lump sum payments having been agreed to finalise the transaction."

Source: www.dailytelegraph.com.au

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Tinkler settles with Tax Office

Embattled coal baron Nathan Tinkler has reached an in-principle settlement with the Tax Office over debts owed by a number of his companies.

In the Federal Court on Friday, a lawyer for the Deputy Commissioner for Taxation said there had been a ?meeting of the minds? between Mr Tinkler and the Tax Office about debts owed by four of his companies.

These are the Newcastle Jets Football Operations, Hunter Valley Sports Group, Buildev Aviation, and Buildev Development (NSW).

Hunter Valley Sports owns the Newcastle Jets Football Club and the Newcastle Knights rugby league team.

Advertisement The Federal Court was told that ?a proposal had been accepted? by the Tax Office and Mr Tinkler but they wanted more time to settle.

Earlier this year, Buildev Group and four related companies were reported to have owed the Tax Office more than $600,000.

He was also originally being pursued over a large debt owed to the Tax Office by the Hunter Valley Sports Group.

But in April, lawyers for the Tax Office told the Federal Court there were no more debts owed by Buildev Group, Buildev Development (Queensland), and BD (Qld) Project G075, though two of those cases were not dismissed because another creditor wanted to be substituted.

However, on Friday that substituted creditor agreed to settle with Mr Tinkler on matters involving Buildev Group and BD (Qld) Project G075.

The judge ordered that both those proceedings be dismissed with parties to pay their own costs.

Read more: http://www.smh.com.au/business/tinkl...#ixzz2TZ7pYQ9A

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Newcastle Knights sponsor The Wests Group pledges to keep club afloat

Long-serving Knights sponsor and supporter The Wests Group has pledged to help keep Newcastle’s football flagship afloat if owner Nathan Tinkler and his Hunter Sports Group management company do not renew a $10.3 million bank guarantee by the end of the month.

The Newcastle Herald reported on Monday that HSG secretly negotiated in January a two-month ‘‘interim’’ surety that would be replaced, before March 31, by one including the balance of the 12-month guarantee until January 31 next year.

The Knights Members Club have imposed a deadline of next Tuesday for HSG to ratify the new guarantee for the full term or they would use their power of attorney to secure the $10.3m.

That would leave HSG six days to comply or the members club could begin proceedings to buy back the Knights for $1, as stated in the original privatisation agreement of August 5, 2011.

Wests Group chief executive Philip Gardner hoped the Knights, who use Wests Mayfield as their administrative and training headquarters, continued to operate under Tinkler’s ownership, but he stressed Wests would not let the club perish.

‘‘The best outcome for everybody is that Nathan secures the bank guarantee and he keeps the Knights adequately funded and Wayne Bennett gets a side that wins competitions for us,’’ Gardner told the Herald on Monday.

‘‘If not, Wests would certainly talk to the interested parties about how we go forward to ensure that the town still has a team, and a competitive team at that.

‘‘The reality is Wests Mayfield is now the home of the Knights.

‘‘I think there would be life after Nathan Tinkler, but we don’t want that to be. We’d rather see Nathan be successful, make a lot of money in coal mines, and put money back into the town.

‘‘One thing we do know is we’ll never find another Nathan Tinkler.

‘‘Under the circumstances of something happening, Wests would obviously be part of any solution if that was what the Knights Members Club wanted, but we hope that Nathan continues, and that he meets the deadline and keeps the whole thing running.’’

Another long-time sponsor, nib Health Funds chief executive Mark Fitzgibbon, said he had no reason to believe Tinkler would not meet the deadline.

‘‘We have no direct knowledge of any problem but equally, we would expect the members club to fulfil whatever obligations it has under the agreement,’’ Fitzgibbon said.

‘‘I only know what I’ve read in the paper. We have a good relationship with the club and we’re not aware of any specific issues.’’

An NRL spokesperson said the Knights board was keeping the league informed about developments regarding the bank guarantee.

‘‘We will continue to monitor the situation and work with the Knights to achieve a positive outcome for the club, players, fans and members,’’ the spokesperson said.

According to a statement on the Knights website on Monday, ‘‘the bank guarantee is due for renewal on March 31, 2014, and will be in place by the due date. This is an annual agreement, as part of the audit, between the Hunter Sports Group and the Members Club.’’

Members club chairman Nicholas Dan said their annual agreement with HSG stipulated a renewal date of January 31, not March 31, and the March 31 deadline was only stipulated in the temporary agreement negotiated in January.

HSG chief executive Troy Palmer did not respond to a text message from the Herald asking whether he wanted to elaborate on the Knights website statement.

Knights chief executive Matt Gidley reiterated what he said in the Herald on Monday, saying in a text message the ‘‘guarantee deadline is 31st [of March] and my understanding is that will be met’’.

Dan said he had not spoken to Knights or HSG management on Monday.

Gidley and Dan agreed in December 2012 to change the annual audit date from December 15 to January 21, and to extend the bank guarantee underpinning the ownership agreement from December 31 to January 31.

As part of that agreement, the members club board would have from January 21 to 31 to scrutinise the auditor’s statement and raise any concerns with HSG as early as possible in the week beginning January 21.

Newcastle Herald

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Sport Confidential: Knights star Darius Boyd is owed around $200,000 in third-party agreements

NEWCASTLE superstar Darius Boyd is owed around $200,000 in third-party agreements, adding fuel to the fire of financial uncertainty that’s consumed the Knights all week.

The Knights have been in damage control after revelations owner Nathan Tinkler’s $10.5 million bank guarantee is about to expire, and it appears the mining magnate’s latest troubles are beginning to affect players.

Newcastle CEO Matt Gidley has denied rumours of delayed payments, but his response does not address third-party sponsorship because the club cannot arrange or guarantee these under NRL rules.

Take it as fact that Boyd is pursuing alternatives to ensure he’s fully compensated, with figures close to him sounding out potential benefactors in the past fortnight. A source close to the Knights claimed other players were in the same predicament.

Gidley also said staff superannuation “continues to be paid on an ongoing basis”. A document belonging to one player suggests that basis is highly irregular. We sighted it last week, and it revealed just three superannuation payments — all of different amounts — over the past 15 months.

Fox Sport's Matt Russell and Gary Belcher break down the Canberra Raiders upset win at Hunter Stadium over the Newcastle Knights
Then there’s the question of outstanding rent at the team’s training base at Wests Newcastle in Mayfield, although Wests boss Phil Gardner said yesterday: “The Knights terms of trade with the Wests group are in order.”

Tinkler has until Tuesday to extend the bank guarantee. If he doesn’t, the Knights’ members club can exercise their power to buy the NRL franchise back for $1 — and Wayne Bennett would effectively become a free agent.

http://www.heraldsun.com.au/sport/nrl/

[DIEHARD]

Knights fans assured Tinkler bank guarantee will be honoured

Westpac Bank has reassured Newcastle Knights fans the $10.52 million bank guarantee it holds will be delivered to the Knights Members Club if it isn’t renewed on time by Nathan Tinkler.

The Newcastle Herald revealed on Thursday that Westpac, one of the Tinkler Group’s major financiers, appointed receivers to dispose of two Tinkler properties in a bid to recoup outstanding debts.

The property seizures increased speculation about Mr Tinkler’s ability to renew the bank guarantee before the March 31 deadline and therefore keep ownership of the club.

The bank guarantee – understood to be a cash deposit – was initially meant to be renewed by January 31, but Nathan Tinkler's Hunter Sports Group negotiated an interim two-month extension.

A spokesman for Tinkler and Knights officials strenuously denied this week there was a problem.

‘‘As stated previously ... the bank guarantee remains in place with Westpac and will continue to be following March 31,’’ Tinkler’s spokesman said.

But the Knights members club has imposed a deadline of Tuesday, March 25, for Mr Tinkler’s Hunter Sports Group to ratify the new guarantee for the full term or it would use its power of attorney to secure the money.

HSG would then have six days to comply or the members club could begin proceedings to buy back the Knights for $1 – under the original privatisation agreement of August 5, 2011.

Members club chairman Nick Dan said the board was ‘‘continuing to monitor the situation closely’’.

‘‘We have had calls from concerned community members and I’ve told them that, if unfortunately Nathan is not able to put things in place, then that’s what Nathan made sure the bank guarantee was there for,’’ he said.

‘‘If he is unfortunately unable to fulfil his obligations we would then have to approach Westpac regarding the bank guarantee.’’

A spokesman for Westpac confirmed the bank guarantee would be honoured if called upon by the members club.

‘‘Given this situation relates directly to a current Westpac customer, the Tinkler Group (not the Knights directly), we are limited in what we can say,’’ he said.

‘‘We have been in discussions with the Tinkler Group for quite some time about existing exposures with Westpac which includes a bank guarantee to support the Newcastle Knights.

‘‘The bank guarantee is still in place and like any guarantee, if it is called upon Westpac will honour that.’’

Sydney insolvency experts Grant Thornton Australia were appointed by Westpac last week to oversee the sale of properties held by Merewether Investments and Oceltip Investments No 2.

These include a commercial property in Newcastle’s Honeysuckle and a vacant block of land in Queensland.

Source: http://www.smh.com.au/rugby-league/

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From Knights

Following a meeting earlier on Wednesday between the Hunter Sports Group (HSG) and the Newcastle Knights Members Club, HSG has allowed the current bank guarantee ($10.52 million) to be transferred into a joint-signatory bank account.

HSG has been in fruitful discussion with the NRL over a period of time to identify a unified business model to ensure the long-term future of the Knights.

This guarantee has been placed in a secure bank account with joint signatories being HSG and the Members Club while negotiations between the Members Club, the Knights and the NRL continue.

The current ownership model and management team will remain in place throughout the duration of these discussions.

No further comment will be provided by any parties involved during this period of negotiation.

KEY POINTS:

$10.52 deposited into a joint bank account with joint signatories
Ownership currently remains unchanged
NRL, Knights and Members Club undertake negotiation to identify a new model moving forward
HSG remains committed to contribute and support the Knights into the future"

http://www.newcastleknights.com.au/

[DIEHARD]

"NATHAN Tinkler’s capacity to maintain control of Newcastle will dictate whether Wayne Bennett stays beyond this season, amid speculation an impending Brisbane Broncos takeover bid could entice the super coach home a year early.

With Bennett confiding to friends that his future is clouded because of uncertainty surrounding Newcastle’s ownership, The Daily Telegraph can reveal his four-year deal was done directly with Tinkler’s Hunter Sports Group (HSG) — not the Knights football club.

That means Bennett will become a free agent should HSG relinquish ownership of the Knights — a possibility that remains after Tinkler and the members club yesterday negotiated HSG’s $10.5 million bank guarantee to be placed into a joint account.

The Knights were yesterday unable to guarantee that HSG would retain control of the club into the foreseeable future, with the current model only guaranteed to persist throughout discussions with the members and the NRL.

Putting HSG out of the picture will trigger a get-out clause for Bennett, who has spent six years away from his family in Brisbane.

Although his salary and superannuation have been paid on time, the seven-time premiership winner is not ignoring the speculation that surrounds Tinkler’s stewardship.

Sources close to Bennett have confirmed he has expressed private concern over the ownership imbroglio, telling close friends — including a captain from a rival club — that his future beyond this year cannot be guaranteed."

http://www.dailytelegraph.com.au/

[DIEHARD]

ttp://www.brisbanetimes.com.au/

The process of removing Nathan Tinkler as Newcastle Knights owner appears certain to kick off early next week, but it could be a long and bitter coup. A number of informed sources have told Fairfax Media Tinkler’s Hunter Sports Group executives haveacknowledged the much-publicised $10.52 million bank guarantee will not be in place by the deadline of 5pm Monday.

‘‘It’s over,’’ one source said.

But another source warned: ‘‘This could take two weeks. Or it could take months, maybe more.’’

Barring an 11th-hour miracle, Tinkler will be in breach of the terms and conditions of his 2011 takeover agreement by close of business Monday, coincidentally on the third anniversary of the historic ballot at which 97 per cent of the club’s members voted in favour of privatisation.

If he defaults on this fundamental commitment, Tinkler would entitle the Knights Members Club to buy the city’s NRL franchise back for$1, which they feel is an obligation rather than an option.

The only question now seems to be how the process will unfold. Once the members club announces its intention to take up the $1 buyback, which may happen as soon as Tuesday, a period of negotiation will follow with HSG. These talks are unlikely to be amicable, judging by past events. This is shaping as a protracted wrangle and the NRL may need to referee.

Attention is then expected to turn to the state of the Knights’ finances.

Fairfax Media has been told there is growing concern that a multimillion-dollar debt may be uncovered.

‘‘The first step in any transition will be to get HSG to open the books,’’ one source said. ‘‘You need to shine a torch in there and get an understanding of the magnitude of any liabilities.’’

The members club has already accessed the existing $10.52 million bank guarantee, a two-month interim agreement that expires on Monday, and had it converted into cheques, which were deposited in a joint-signatory account with HSG on Friday.

The bank guarantee was written into the original deed of sale as a ‘‘safety net’’. It was supposed to ensure the members club had a nest egg with which to pay any Knights’ creditors and establish a new entity.

Given that these funds can be withdrawn only when HSG and the members club both agree, there are concerns that disputes will arise. ‘‘If HSG has liabilities and bills to pay, you can imagine they will put pressure on the members club to release some of that cash,’’ a source said.

It is understood Tinkler believes he should be entitled to retain a stake in the Knights.

Informed on Friday that Fairfax Media intended to report that HSG would not comply with the bank guarantee stipulation on Monday, HSG chief executive Troy Palmer replied: ‘‘No comment.’’

Read more: http://www.smh.com.au/rugby-league/l...#ixzz2xIDzoDV3

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Knights Ownership Statement

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. (ENDS)

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.

http://www.newcastleknights.com.au/

[DIEHARD]

After a brief ceasefire, the battle for control of the Newcastle Knights is expected resume in earnest this week.

Nathan Tinkler’s Hunter Sports Group, which has owned the Knights for the past three years, is under siege on two fronts, with both the Knights Members Club and the NRL positioning themselves to overthrow the club’s existing management.

The three parties have been engaged in confidential crisis talks for the past two weeks, since HSG defaulted on a commitment to have in place a $10.52 million bank guarantee that was a fundamental component of Tinkler’s 2011 takeover deal.

A truce has effectively been in place during these negotiations but a significant development is likely in the next few days, when the members' club is tipped to formally serve notice of its intention to launch the process of buying back the Knights.

When HSG reneged on the bank guarantee, that entitled the members' club, under the privatisation terms and conditions, to buy the Knights back for $1.

But Fairfax Media understands the members' club must serve notice that it will be pursuing that option within a time frame of 20 business days or it becomes null and void.

HSG officially defaulted on the bank guarantee on March 31.

But it is understood that the 20-business-days stipulation may apply from March 25, which was the date that the members' club gave HSG to have its affairs in order or it would access the bank guarantee.

That would mean the members club have until April 23 – Wednesday week – to serve notice that they intend to pursue the $1 buyback.

The members' club has deferred playing this card, possibly at the request of the NRL, or perhaps to see how the negotiations play out.

But unless HSG concede defeat and walk away, or the NRL step in to initiate a coup, the members' club will have little option other than to initiate the $1 buyback process and protect its rights.

HSG, however, has shown no signs of relinquishing control without a fight and it would be no surprise if Tinkler launched legal proceedings to challenge the $1 buyback.

HSG confronting the members' club is one matter, a showdown with the NRL another altogether.

As much as the members' club has apparently been hoping the governing body could resolve this impasse, the NRL’s preference appears to be playing the role of facilitator.

Nonetheless, HSG appears to be facing an uphill battle convincing the NRL that Tinkler deserves to retain some stake in the Knights going forward.

It is understood NRL officials have been monitoring the Knights for some time, as speculation mounted about Tinkler’s financial position.

It is understood HSG’s failure to meet the bank guarantee prompted the NRL to commission a forensic audit of the Knights’ accounts, which was completed two weeks ago.

It is yet to be publicly revealed what that audit uncovered, but there are rumours the Knights’ liabilities could be in the vicinity of $20 million.

For HSG to remain involved with the Knights in any capacity, an assurance those liabilities can be resolved and a neutral balance sheet achieved would appear essential.

The NRL is understood to have discussed a number of options with HSG but is waiting for a response.

If HSG was unable to convince the NRL the Knights were on solid financial ground, any prospect of a three-way joint venture between HSG, the NRL and the members club would seem untenable.

Certainly the members' club has no interest in any structure that allows HSG to remain at the table.

The NRL could endorse that viewpoint – and the $1 buyback process – within a matter of days.

Then it would become a matter of how much time, energy and money Tinkler was prepared to invest in fighting both the members club and the NRL, knowing that even in a best-case scenario, he would be unlikely to hold more than a one-third stake in the club he once owned.

All three parties – the NRL, HSG and members club – are bound by a confidentiality agreement, which prevented members' club chairman Nick Dan from commenting on Monday.

Read more: http://www.smh.com.au/rugby-league/

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Just heard on TripleM during the Broncos v Titans broadcast, Knights players haven't been paid.

[DIEHARD]

Brent Read ‏@brentread_7 3m Big news coming out of Newcastle. Players and staff not paid. More to come

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NRL statement on Newcastle Knights

The NRL said it would take whatever action is necessary to protect the players and staff of the Newcastle Knights whose wages had not been paid today.

The NRL learned today that Newcastle Knights, controlled by Nathan Tinkler's business group, had failed to pay the salaries of at least 20 staff and players.

"The NRL will take whatever action is necessary to protect the Knights, the game and, most importantly, the players and staff as a result of these actions," NRL CEO, Mr Dave Smith, said.

NRL Head of Club Services, Mr Tony Crawford, said: "The actions of the Tinkler-controlled Knights towards players and staff are completely unacceptable and will not be tolerated.

"The NRL has demanded that the situation is rectified immediately because there is no place in our game for this kind of behaviour.

"The NRL will be assessing all options to bring this to a resolution in the interests of the Knights, staff, our fans and the broader Rugby League community."

The NRL said it would not speculate on what those options might include.

http://www.nrl.com.au/

[DIEHARD]

After failed peace talks with the NRL, the Knights Members Club has lost patience with HSG

NATHAN Tinkler has been issued with an ultimatum to walk away from the Newcastle Knights or risk the club’s ownership battle being destined for the courts.

After eight weeks of failed peace talks with the NRL, the Knights Members Club has lost patience with the Hunter Sports Group.

Tinkler has been given until the end of this week to sign a $10.52 million bank guarantee which allows the Members Club to start the process of buying the club back for $1.

If Tinkler fails to do so, then the Knights are headed for the courts in an ownership battle guaranteed to be very ugly and very public.

“We’re calling on the Hunter Sports Group to honour their obligations to the club and community by transferring the assets, including the bank guarantee,” Members Club chairman Nick Dan said.

“We want it to be easy for the players and staff to simply worry about their jobs. It would also be easier for the NRL if they could just worry about running the game rather than worrying about an individual club.”

The tipping point for the NRL came last Friday when it emerged super coach Wayne Bennett was among a group of 20 staff and players who have not been paid monthly wages.

Two days earlier, Tinkler supposedly spent $150 million to purchase a mine in Queensland. It makes the failure to pay Bennett, other staff and players astounding.

The future of Bennett at Newcastle is now a work in progress, with his four-year contract signed with HSG rather than the Knights. So if Tinkler is forced out, the supercoach will have to re-negotiate the terms of the final 18 months of his contract under the club’s new structure.

The Sunday Telegraph has spoken to a number of Newcastle insiders who are fuming with Tinkler, but under the HSG regime every employee at the club is effectively forbidden from speaking out against the ownership publicly.

Thankfully, former Newcastle premiership winner and media personality Matty Johns isn’t gagged by the same sort of instructions.

Johns told The Sunday Telegraph: “It’s something that has got to be addressed because there have been rumours going on for the entire season about late payments and players not being paid.

“That affects performance. These latest developments have clearly proven there are players not being paid. That being the case, is it any wonder the team is not performing?”

We asked Johns specifically about the form of Queensland player Darius Boyd, the fullback who is owed a $200,000 third-party sponsorship.

“I’ve heard all the stories about Darius being owed money,” Johns said.

“I’ve heard all the stories about third-party payments, but I don’t know what the facts of the matter are because people won’t speak.

“People are afraid to talk about it.

“The other night on Peter Sterling’s ‘Sterlo’ program there was a package of Darius’ play that indicated to me something is very, very wrong. They weren’t the actions of a world-class player.”

Luckily for the Knights, the Westpac bank has guaranteed it will honour the $10.52 million bank cheque which is currently sitting in a joint account between HSG and the Knights Members Club.

The issue for the Knights Members and the club’s legion of supporters is that the cheque needs to signed by Tinkler’s right-hand man Troy Palmer in order for the members to be able to draw on the funds.

There has been talk over the past two months the Newcastle Knights debt could be as high as $18 or even $20 million.

Under the terms of the private ownership contract Tinkler signed when HSG took over in 2011, if the Members Club exercises its right to buy the club back for $1, it comes debt-free.

Will Tinkler be prepared to walk away with an $18 million bill? It’s unlikely.

Which means the Knights could be headed for an ugly legal battle for control of the club, especially when you consider HSG chief executive Palmer’s comments about the latest crisis on Friday night.

“We requested short-term assistance from the NRL for the outstanding wages, however this wasn’t forthcoming.

“HSG will ensure any outstanding wages are paid next week and hope the ownership dispute can be resolved immediately so the club can be adequately funded again.”

The Knights Members club has retained strong ties with the powerful Wests Newcastle Leagues club organisation, with the pair already in talks about the future of the club.

Perhaps the people who have been hit the hardest by HSG’s business antics over the past three years are the loyal Novocastrian fans.

They are tried and true rugby league people. All they want is a football team to be proud of.

http://www.foxsports.com.au/nrl/