The billionaire Australian mining magnate Nathan Tinkler secured ownership of the Newcastle Knights league club with a landslide endorsement from members.
Needing 75 per cent of the members vote to have his $100 million bid for the Knights accepted, Tinkler received a staggering 97 per cent approval, and the announcement of his victory was welcomed by a chorus of cheers followed by chants.
The privatisation plan will see Tinkler wipe out club debts of about $4 million and guarantees the club annual sponsorship revenue of $10 million over the next 10 years.
Under their new owner, Newcastle will become serious players in the bid to sign the former Brisbane Broncos coach Wayne Bennett, who is leaving St George-Illawarra at the end of this year.
