Mining magnate Nathan Tinkler has maintained his control over the Newcastle Knights National Rugby League team after an emergency meeting of the club's board and members.
Last week the Australian Tax Office moved to wind up the Knights and the Newcastle Jets A-League football franchise because of a $3 million debt.
The debt is owed by Tinkler's Hunter Sports Group.
The Knights Members Club board has been increasingly nervous and there was speculation it would ask Tinkler to hand back the club's NRL licence.
Tinkler's right-hand man, HSG chief executive Troy Palmer, Knights boss Matt Gidley and coach Wayne Bennett addressed the meeting and did their best to allay members' fears.
Palmer and Gidley reinforced their view that HSG intends to pay the tax bill in the next few weeks.