Talks to secure Newcastle’s takeover by millionaire businessman Nathan Tinkler have progressed no further, according to Knights bosses.
An offer made by Tinkler to buy the club was turned down last month, but in a message to fans, Knights chairman Rob Tew says they are still open to negotiation.
Tew says the board gave “serious consideration” to Tinkler’s offer but, concluded that it was insufficient.
He said: “The Knights Board has given serious consideration to the Tinkler Groups previous approaches and written offer. The written offer (subsequently withdrawn) was considered to be insufficient on a number of fronts – including the scale of consideration for the 100% ownership being claimed.”
Tinkler, who is reported to be worth over $660 million, already owns the Newcastle Jets soccer team.
He added: “In the event that a new offer was – in the boards opinion – sufficiently improved, we would then be in a position to take that offer to the Knights Membership for consideration.
“A disappointing aspect of discussions to date is the very public avenue being taken, an aspect which appears to be a desired route of the Tinkler Group. It is not an avenue that the board of the Knights would consider a prudent path to take in this commercial matter.
“However, notwithstanding the approach adopted by the Tinkler Group, we are prepared to progress discussions in order to achieve the best outcome for our Club on behalf of the membership.”