NRL SELLS KNIGHTS TO WEST LEAGUES GROUP
Posted: Wed Jul 05, 2017 9:17 am
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
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