The Knights are believed to be struggling to meet financial commitments and have asked the A-League for help. Just when we thought things could not get any worse, new boss Steve O'Hara has been in Sydney rattling the begging bowl. Only problem, there wasn't enough in the bowl to make any noise.
Hyundai A-League head of operations Matt Carroll confirmed O'Hara had come calling to admit the cashflow and sponsorship projections were not looking too flash.
"He was looking for help on a number of fronts," said Carroll, who also holds the Football Federation Australia operations manager reins. "We will certainly give that."
Asked whether in light of suggestions that the club was struggling to pay wages, they had asked for financial assistance, Carroll said: "Not in so many words."
Carroll said he was sure football manager John Adshead and his players were doing all to win but added "all the smart marketing in the world can't turn that around".
But before giving up completely on the NZ Knights, the fans should take solace from Carroll's assurance that the FFA and the A-League certainly want a club in Auckland.
Carroll said he was awaiting a fuller report before charting his next move.
"Do they [the Knights] want to be successful? Yes. You have to remember that in our initial projections we had no club breaking even until year three," said Carroll.
"We have to put in place off-field strategies to ensure we and the clubs are doing all they can to be successful. In the Knights' case, I'm still waiting on a new set of financial forecasts. It is in our power to provide capital.
"The Knights certainly said that given the situation with the crowds and lack of sponsorship they are doing it tough. We are looking to work with them in providing sponsors."
Carroll said that while the FFA was keeping a close watch on the situation, the Knights' licence was not in jeopardy.
"We want to see soccer in New Zealand succeed. Auckland is a good market for them and us but the best way for the Knights to turn it around is to win on the field.
"Teams in all codes lose games but it is important that if you lose you can also show you are competitive. We had projected crowds averaging 10,000," said Carroll.
That figure is running at 11,500 but is being dragged down by the Knights and the Mariners. Television ratings are pleasing. Merchandising has gone well and the website visits are heading in the right direction.
"Sure, they [the Knights] are doing it hard but we are committed to the club. If there is a need to make changes to make it work obviously we will look at them and help in any way we can.
"The cashflow problems are obvious, especially when it comes to paying wages. That is critical in any business.
"No club in the Hyundai A-League will be allowed to falter [in that direction]. The New Zealand Knights are not alone in coming to us. We have always said to the clubs "don't suffer in silence".
Carroll, who is expected to meet the Knights in Auckland in the next few days, is to be commended for the stance he and the powers at FFA headquarters are taking.
No one wants to see the Knights fold.
The club's senior benefactor, Brian Katzen, doesn't deserve that.
Sadly, there are too many who remember the bad old days at the Football Kingz when similar cashflow problems led to concerns about players being paid.
That signalled the start of a spiral which they never pulled out of and eventually led to their off-field performance matching that on the field.
And we all know how bad that became and how hard it is again going to be for chief executive O'Hara and Knights chairman Anthony Lee to turn this latest drama around.
Soccer: Cash latest concern at Knights
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