Knights set out takeover agenda

Newcastle bosses have set out to members their agenda for a $100 million takeover by businessman Nathan Tinkler.

The Knights’ board have agreed ‘in principle’ Tinkler’s bid, but add that they still have a number of issues to iron out.

In a club statement, Chairman Rob Tew and Chief Executive Steve Burraston say that they hope to put the bid to a members vote by March this year.

It read: “Our goal is to resolve these outstanding details in coming weeks so that a proposal can be put to members as soon as practical for your consideration and ultimately a vote at a meeting of members.

“While much work still needs to be done, at this stage we are targeting a March 2011 meeting of members to fully consider this important step forward.

“We are optimistic we can iron out the details that are still outstanding so we can put a proposal to members that has the potential to truly transform the Knights.”

Among the issues the club want to resolve are a dispute over turf-laying costs with the state government, compensation for staging soccer matches and an exisiting loan from Tinkler.

The statement added: “We are confident we will be able to resolve all outstanding issues during this period after which we expect to be in a position to formally put the proposal to members for appropriate consideration, and ultimately a vote in a members meeting.”

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