The NRL has announced the establishment of a Divestment Committee, which will consider the best process for the sale of the Newcastle Knights.
The Divestment Committee’s mandate is to consider and make a recommendation to the NRL Commission on the ownership transition of the club.
The committee will be comprised of:
· Todd Greenberg (NRL CEO)
· Brian McGuigan (Knights Chairman)
· Tony Crawford (NRL Head of Club and State Services)
· Eleni North (NRL General Counsel)
· John Quayle (Knights Director)
· Eileen Doyle (Knights Director)
· Peter Shear (Knights Director)
The NRL has always maintained it is not a long-term holder of any Club licence. However with stronger financial, operational and governance structures in place at the Knights, the NRL believes it is an appropriate time to consider the best method of ownership transition.
“The NRL has consistently reinforced the importance of our game, our team and our community and the inclusion of our Directors on this committee reflects the NRL’s commitment to ensuring the best outcome for our stakeholders,” Knights CEO Matt Gidley said.
The work of the Committee commences immediately, with no firm timeframe on the sale of the Club.
“A sale will only proceed when we have the right buyer for the club, the Newcastle community and the game,” NRL Head of Club Services, Tony Crawford said.
“I should stress that a sale of the club is not imminent.
“But this Committee will recommend the most appropriate way of transitioning the ownership of the Knights at the appropriate time.”
This process is positive news for the Club and it remains business as usual for the Newcastle Knights.
When appropriate, the Committee will provide an update on the process.