Mining magnate Nathan Tinkler has maintained his control over the Newcastle Knights NRL 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 franchise because of a $2.7 million debt.
The debt is owed by Mr Tinkler's Hunter Sports Group (HSG).
The Knights Members Club (KMC) board has been increasingly nervous and there was speculation it would ask Mr Tinkler to hand back the club's NRL licence.
There was a $20 million bank guarantee when Mr Tinkler privatised the club in case things turned sour.
Mr 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.
Mr Palmer and Mr Gidley reinforced their view that HSG intends to pay the tax bill in the next few weeks.
The pair also said all of HSG's creditors would be paid, and that an audit report into the Knights' 2012 financial operations would reveal HSG had met all requirements.
After the meeting, Mr Palmer said it was business as usual for HSG and the Knights.
"Everyone agrees what a great job Nathan and the team has done and where the club has gone in a short period of time," he said.
"I think the members club are more than happy with that after asking their questions today.
"We are excited about next season."
Board chairman Nick Dan confirmed he had received assurances at the meeting.
"We want to see the club fully capitalised and I'm confident that this football club will always survive," he said.
ABC/AAP
Tags: sport, rugby-league, newcastle-2300, nsw, australia First posted December 17, 2012 20:55:00
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