The ownership of the troubled Newcastle Knights will become clearer when National Rugby League chief executive Dave Smith makes an announcement in the NSW city on Friday.

The Newcastle Herald reports the NRL will take charge for an interim period then consider expressions of interest from prospective owners.

Nathan Tinkler’s ownership was doomed eleven weeks ago when he failed to get a $10.52 million bank guarantee and the newspaper said the process of removing Tinkler’s Hunter Sports Group from control of the club ended on Thursday night.

It’s believed the Knights have between four and five million dollars left over from the Tinkler regime.