12 December 2016
The Newcastle Knights may follow international sporting heavyweights including FC Barcelona and the Green Bay Packers in moving to a fan ownership model.
Under a proposal called Our Knights, One Chance, 40,000 shares of $500 would be offered to fans and businesses.
The aim is to raise at least $15 million, helping to secure the long-term sustainability of the club.
Rob Tew, one of the backers of the proposal and a former chairman of the Knights said “if the community is not invested, it’s extremely difficult to function long term.”
The proposal is similar to a model already widely used in the UK where a supporters’ trust is set up to facilitate democratic governance of a sporting club.
Ownership by any individual or business would be capped at 4 per cent.
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