KEY POINTS:
The owners of the New Zealand Knights warned today that there was a real risk the club's A-League soccer licence could go to an Australian franchise.
Football Federation Australia last night cancelled the Knights' licence, saying it had reached agreement for New Zealand Soccer to manage the club's operations for the rest of the season.
New Zealand Knights Football Club Ltd chairman Anthony Lee said the FFA's decision meant that the company had to cease trading from today.
He said no one would lose more from the move than he and co-owner Brian Katzen.
"We have invested millions into the club and for many different reasons it has not worked," Lee said in a statement.
"If there is a legacy from those millions it is that New Zealand has a team in the A-League and in doing so has a high quality football league in our community."
Lee said the goal now was to retain the franchise in New Zealand and he noted that the FFA had said this was the intention.
However, this could not be achieved without considerable investment from new owners "and right now, I'm not sure who that will be".
"There must be a real risk that the licence might now revert back to Australia at some point in the future and that would be the biggest tragedy in all of this," Lee said.
"The ball is now in New Zealand Soccer's court. They, along with the FFA, must decide the future of the franchise.".
With five matches to go, the Knights are stuck firmly at the bottom of the league and are due to face runaway leaders Melbourne away on Sunday.
Training was called off today and the players were due have a meeting with FFA representatives this afternoon.
New coach Ricki Herbert was also expected to speak to the squad.
Herbert, who is also the New Zealand national coach, took over from interim appointee Barry Simmonds, whom himself replaced the sacked Paul Nevin last month.
- NZPA
