Newcastle Knights battle at bottom of ladder as ownership debacle unfolds

THE Newcastle Knights are last on the NRL ladder after their seventh straight loss.

They lost 29-12 to the Sydney Roosters at Allianz Stadium on Saturday.

Of the 16 NRL teams, Newcastle is the only one to have not celebrated a win since April.

Saturday's loss came at a turbulent time for the Knights, as former owner Nathan Tinkler handed the club back to the NRL governing body.

The new Knights entity kicked off with $5.1 million in its coffers, which was what remained of the $10.52 million bank guarantee Tinkler forfeited on March 31.

A new board will be formed.

NRL chief executive Dave Smiths said the Knights would emerge from the three most tumultuous years in the club's history to enjoy an era of stability and prosperity.

The Knights will play the Queensland Cowboys this Monday, June 23, at Hunter Stadium, 7pm.