Plan to make Newcastle Knights owned by fans

Seven Newcastle businessmen have revealed a business model that plans to see the Newcastle Knights owned by fans.

The Knights are currently owned by the NRL. The group has asked for Newcaslte supporters to register their interest in the proposal and if there is interest, they will look to sell shares in the club.

The shares will be for sale at $500 each and shareholding will be capped at 4% for each person or organisation.

The plan is to raise $15 million in capital, with the new ownership structure in place for the start of the 2018 season.

The businessmen said the restructure would give the club back to the fans.

“Over the last few years, our team has been let down by uncertainty and ownership changes. But let’s change that. Now is the time to make a stand,” they said in a statement.