Knights will remain under NRL ownership after governing body fails to sell Newcastle club

THE Knights will remain under NRL ownership after the game’s governing body failed in its bid to secure a new owner following a lengthy sale process.

The NRL have failed in their bid to sell-off the Knights.

THE Newcastle Knights will remain under NRL ownership after the game’s governing body failed in its bid to secure a new owner following a lengthy sale process.

The NRL announced on Thursday they will continue to bankroll the club into the future after failing to attract a suitable buyer willing to stump up more than $10 million to potentially secure a sale.

Despite attracting interest from as many as 17 different parties, several from overseas, who were involved in the bidding process, none of them met the criteria according to NRL CFO and Head of Club and State Services Tony Crawford.

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The NRL have failed in their bid to sell-off the Knights.

“We have always said any new ownership of the Knights must be good for the club, good for the community and good for the game,” Crawford said.

“Based on that criteria, and despite receiving offers from a number of interested parties, the NRL has decided to retain ownership of the Knights until such time as the divestment criteria is satisfactorily met.”

Knights CEO Matt Gidley said the decision underlines the NRL’s strong commitment to ensuring the right owner is found for the club for the long term.

Originally published as Knights will remain under NRL ownership after governing body fails to sell Newcastle club