Gallop denies Knights are in financial ruin as Knights take Patron’s Trust offer

Just as the Knights had Nathan Tinkler walk away from their arrangement with the billionaire waiting too long for action, NRL Chief Executive David Gallop has denied that the Knights are in financial trouble.

Gallop believed that the Knights would have prospered in the NRL regardless of Tinkler coming on board with the club or not.

“The Knights are going into a new stadium, they are a big part of the community up there – so this isn’t something where we would be suggesting that this has put them in any financial trouble,” Gallop said on Monday.

With many disappointed that Tinkler has walked away from the Knights, Gallop said that whilst those with the money can help teams in the long-run, there are other methods of approach.

“Obviously anyone with deep pockets who wants to get involved in rugby league has got a certain attraction to us, but whether that is a deal that is going to tick all the boxes for the Knights is not for us to say.

“At this stage it’s very much been an issue between the Tinkler group and the Knights, obviously the detail was being worked through.

“We are not forcing private ownership on any of our clubs – it’s obviously something the game embraced a long time ago and it’s been successful by and large in the areas that have embraced it – it’s a wait and see at this stage for us.”

Just as Gallop is confident that the Knights can survive without additional assistance, the Newcastle Knights have decided to go ahead with a different tact, the Patron’s Trust Group.

Knights Chairman Rob Tew said that the negotiations as they stood, were not in the best interests of the Knights organisation for the future.

“What was initially touted as a $100 million guaranteed offer to buy the Knights has turned out to be a small fraction of that offer with no certainty for the club beyond two years and a host of other liability questions unanswered,” Mr Tew said.

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