Knights members back Tinkler takeover
Mining magnate Nathan Tinkler is to assume ownership of the Newcastle Knights NRL club after 97% of the club's members voted in favour of his privatisation proposal at an extraordinary general meeting at Newcastle Entertainment Centre last night.
Tinkler required only a 75% majority of members to agree to two constitutional amendments clearing the way for him to take control of Newcastle's NRL club, which until last night's history-making ballot had been a membership-based, community-owned entity from the time it was founded in 1988.
Emerging after an hour-long ballot, Knights Chairman Rob Tew announced that the two special motions had been carried overwhelmingly, prompting rapturous applause from the majority of members.
Tew explained "it is a resounding successful proposal for the Tinkler Sports Group
"In order to succeed the Tinkler Sports Group needed 75% and they've clearly done that. From the outset, it's been the board's imperative to get the best deal for this club and this vote tonight is an historic vote in the history of this club."
The ballot was conducted under the scrutiny of John Campion and Sean Mahoney, representing accounting firm PriceWaterhouseCoopers. Although official numbers were still being confirmed, it is understood about 2,500 votes were lodged and counted.
The Tinkler Sports Group will now own both the Knights and the A-League's Newcastle United Jets and intend to provide the "the best value" sports tickets in the country - allowing families to purchase tickets to Newcastle's NRL home games from $5 per person for reserved seating and $3.75 per person for general admission
A delighted Tinkler Sports Group Executive Chairman Ken Edwards stated "what a night ... it certainly is history.
"The board of the Newcastle Knights have done an outstanding job representing your interests and making sure this club is the very best that it can be."
25th March 2010 - KNIGHTS REACH DEAL WITH HUNTER VENUES
15th February 2010 - KNIGHTS SUE JETS OVER STADIUM
2nd April 2009 - STORM OVER ENERGY AUSTRALIA STADIUM
8th October 2008 - HUNTER VENUES APPOINT FIRST CHIEF EXECUTIVE
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