Preston Campbell to retire.
I hope the NRL tie him him up for a job very quickly.
One of the toughest little men to play the game, he will be a great influence many young kids out there.
---------- Post added 05-08-2011 at 04:48 PM ----------
Say hello to the richest rugby league club.
Hunter Sports Group Completes Knights Acquisition
The Hunter Sports Group (HSG) has today completed its acquisition of the Newcastle Knights.
The acquisition, which includes a $20 million bank guarantee and payment of the Club’s liabilities which were in excess of $6 million, has been completed 5 days ahead of the revised August 10, 2011, deadline.
The complex transaction included the transfer of all contracts and agreements to the new entity, while the vast majority of the club’s liabilities, including its tax bill, have now been settled.
HSG CEO Troy Palmer is pleased all speculation over the acquisition had finished and the only thing left to consider are the massive benefits the change of ownership will mean to the community of Newcastle and the Hunter Valley.
"A range of matters in what was a complex transaction were completed for today’s formal handover, with all contracts and agreements transferred to the new entity,†Palmer said.
"The vast majority of the club’s liabilities, including its tax bill, under the terms of the acquisition agreement have now been settled.
"I think we should look forward to the positives this change of ownership has created and at the same time appreciate the great opportunity that is now being presented to the entire Newcastle Rugby League community.
"The Hunter Sports Group is a not for profit organisation and any surplus profits will now be re-invested into the Hunter’s youth and their development," he concluded.
Earlier this month HSG advanced $3.5 million to ensure the Knights met their financial obligations in the lead-up to the closure of the acquisition.
Nathan Tinkler said, â€I am delighted the Hunter community will play an integral role in the development of the Knights to again become a powerhouse in the NRL. The signs are good as the First Grade team is set for the finals.
“Our focus is on developing the young talent in the Hunter Valley to become Knights, while welcoming many of our former players back to Newcastle.â€
Since the March vote when 97 per cent of Knights’ members voted to approve its acquisition, HSG has signed Wayne Bennett as coach for the next 4 years, as well as signing internationals including Darius Boyd, Kade Snowden, Timana Tahu and extended captain Kurt Gidley and coach Rick Stone to long term deals.
A range of HSG initiatives have seen the Knights’ membership more than double to over 15,000 members, while crowds have increased to an average of over 18,000 per game.
The Knights now join the Newcastle Jets and an International sporting events arm in the Hunter Sports Group.
