NRL SELLS KNIGHTS TO WEST LEAGUES GROUP

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NRL SELLS KNIGHTS TO WEST LEAGUES GROUP

Post by leeroy*NRL* »

The NRL is on the verge of selling the struggling Newcastle Knights in a multi-million dollar deal that will ensure the club becomes a long-term rugby league powerhouse.


The Daily Telegraph understands the purchasers — the thriving Wests Leagues club group which made a $23 million profit last year — will commit up to $10 million to new centre of excellence and a cash injection into grassroots football in the Hunter as part of the agreement

Wests Group is a flourishing business with a $143 million turnover that makes regular multi-million dollar profits with assets including six thriving licensed clubs and two accommodation hotels

Wisely, the NRL is trying to get the game strong in Newcastle rather than grab a large lump sum payment. It’s why they pushed for a sale model involving the centre of excellence and grassroots funding

The Daily Telegraph understands the NRL rejected bids from other parties with more lucrative offers for the Knights. Instead it wanted a buyer who would strengthen rugby league in an old heartland.

http://www.dailytelegraph.com.au/sport/ ... dd74e539bf


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Re: NRL SELLS KNIGHTS TO WEST LEAGUES GROUP

Post by The_Wookie »

taken them long enough to get the deal done.


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Re: NRL SELLS KNIGHTS TO WEST LEAGUES GROUP

Post by pussycat »

A good move by the ARLC. I suppose, after looking at the 80m or so in handouts the opposition was having to pay its clubs each year the NRL took it's time and was careful not to make the same mistakes.

Well done ARLC , well done =D>


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