21 Feb 2011

Mining magnate withdraws offer for Newcastle Knights

6:15 pm on 21 February 2011

The billionaire mining magnate Nathan Tinkler has withdrawn his $120 million offer to buy the Newcastle Knights National Rugby League club.

Tinkler says he's had taken the offer off the table due to too many differences between the two parties.

Tinkler also reportedly sent an email to board members informing them of his decision and laying the blame for the failed deal squarely on the shoulders of club directors.