A group of local business identities are leading a charge for the Newcastle Knights to become a community-owned club.
The NRL has been searching for a new owner for the club for several months.
The Knights fear they could soon be in the hands of a party with no ties to the region, which has prompted seven Hunter businessmen to develop the community model, based on the success of NFL team the Green Bay Packers.
The proposal would be carried out in three stages, starting with generating support online from the public.
If there’s enough interest to prove to the NRL the option is viable, shares would then become available for $500 each, with shareholding capped at four per cent for individuals and companies.
The group anticipates it’ll need to raise a minimum of $15-million to ensure the club’s long-term future.
If successful, the club would move to community ownership before the start of the 2018 season.
For more information, visit ourknights.com.au
