Knights expect to post 'modest' profit after breakthrough season

Since the Wests Group assumed ownership of the Knights in late 2017, each season - even those impacted by COVID - has delivered a profit in excess of $1 million.

But Knights CEO Philip Gardner says that won't be the case this season because of increasing costs, in particular funding women's and junior-rep teams and improvements to the club's Centre of Excellence.

"We didn't take it on to make a profit," Gardner told the Newcastle Herald.

"Obviously we have been able to make a profit every year, and that's great, because it means the business can stand on its own two feet. We're budgeting for a modest profit this year, and that'll be our expectation next year as well.

"We're confident we'll make a profit every year, but we'll be investing heavily in academies and pathways and facilities to help make the club stronger for the long-term."

Gardner said the Knights were now spending "somewhere between $1-2 million a year" in funding women's teams, and the upkeep of their Centre of Excellence also cost "around $1 million" per annum.

"Effectively what we're doing is that whatever surplus there is, we're reinvesting it into the club," he said.

"The women are an investment in the future of the game. So is the Centre of Excellence. Our next step will be to build a small grandstand at the Centre of Excellence so that our pathways teams can play there."

The Knights attracted an average home crowd this season of 21,312 - the third-best in the history - culminating in three consecutive sell-outs. Gardner was confident next season's numbers would be even bigger.

"The phones have been ringing off the hook," Gardner said.

"We've had tremendous interest.

"Our expectation is that we should set records for ticketed members and crowd numbers, because the interest has been through the roof.

"People pay their hard-earned to come and see their team win, and this year I think we delivered value for their money."

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