Joshhh
Danny 'Bedsy' Buderus
Government chasing Nathan Tinkler for $1.2m in stadium rent
By Phil Rothfield
Newcastle Knights owner Nathan Tinkler.
HE was once one of Australia's richest men - now Nathan Tinkler's refusing to pay the full amount of ground rental for his NRL and A-League teams.
Cash-strapped businessman Nathan Tinkler owes the state government $1 million and has had to negotiate a repayment deal to settle the debt. The now Singapore-based Tinkler has been in dispute for several months over homeground rental for the Newcastle Knights and Newcastle Jets.
Revelations of the money owing were raised when Sports Minister Graham Annesley was questioned at a recent budget estimates meeting.
It comes a week after The Daily Telegraph revealed Tinkler was late with player payments, superannuation and staff wages at the Knights. After months of negotiations, Hunter Sports Group has agreed to pay more than $880,000 but is still disputing another $400,000 of the $1.2 million debt.
Other NRL clubs Parramatta and St George-Illawarra play at government-run grounds but are up to date with their payments.
In a deal struck last week, Hunter Sports Group has agreed to pay $583,000 due by October 31 and another $300,000 by November 21.
HSG also owes third-party payments to players that have to be settled within 10 days.
In May, BRW estimated Tinkler's wealth at $915 million, and he was once Australia's richest man under 40.
He is in court today on another matter after failing to comply with an order to pay building company Mirvac $17 million to settle a property deal. Mirvac has lodged a contempt of court order to seize Tinkler's assets, which could involve taking thoroughbreds from his Patinack Farm racing empire.
The Knights' position is secure because of a $20 million bank guarantee negotiated by the club's former CEO Steve Burraston, but the Newcastle Rugby League is still owed more than $100,000 in a junior development grant.
Annesley and former NRL boss John Quayle have been in talks with Knights executives about the money owed.
"Although the discussions with Hunter Sports Group have taken longer than I would have liked I'm pleased we have now reached agreement on the bulk of the debt," Annesley said. "Discussions are continuing regarding the remaining $400,000 in dispute."
Annesley told a budget estimates meeting last week the money was owed for use of the stadium and catering services.
Hunter Sports Group spokesman Richard Fisk confirmed Tinkler had withheld payments for ground rental because of the dispute.
"As part of ongoing negotiations for a new 10-year hirer's agreement with Hunter Venues, some payments have been withheld by HSG, subject to the finalisation of the new agreement," Fisk said.
"Negotiations are anticipated to be completed within the next fortnight, with two lump sum payments having been agreed to finalise the transaction."
http://www.dailytelegraph.com.au/sp...-in-stadium-rent/story-e6frexnr-1226501018815
By Phil Rothfield
Newcastle Knights owner Nathan Tinkler.
HE was once one of Australia's richest men - now Nathan Tinkler's refusing to pay the full amount of ground rental for his NRL and A-League teams.
Cash-strapped businessman Nathan Tinkler owes the state government $1 million and has had to negotiate a repayment deal to settle the debt. The now Singapore-based Tinkler has been in dispute for several months over homeground rental for the Newcastle Knights and Newcastle Jets.
Revelations of the money owing were raised when Sports Minister Graham Annesley was questioned at a recent budget estimates meeting.
It comes a week after The Daily Telegraph revealed Tinkler was late with player payments, superannuation and staff wages at the Knights. After months of negotiations, Hunter Sports Group has agreed to pay more than $880,000 but is still disputing another $400,000 of the $1.2 million debt.
Other NRL clubs Parramatta and St George-Illawarra play at government-run grounds but are up to date with their payments.
In a deal struck last week, Hunter Sports Group has agreed to pay $583,000 due by October 31 and another $300,000 by November 21.
HSG also owes third-party payments to players that have to be settled within 10 days.
In May, BRW estimated Tinkler's wealth at $915 million, and he was once Australia's richest man under 40.
He is in court today on another matter after failing to comply with an order to pay building company Mirvac $17 million to settle a property deal. Mirvac has lodged a contempt of court order to seize Tinkler's assets, which could involve taking thoroughbreds from his Patinack Farm racing empire.
The Knights' position is secure because of a $20 million bank guarantee negotiated by the club's former CEO Steve Burraston, but the Newcastle Rugby League is still owed more than $100,000 in a junior development grant.
Annesley and former NRL boss John Quayle have been in talks with Knights executives about the money owed.
"Although the discussions with Hunter Sports Group have taken longer than I would have liked I'm pleased we have now reached agreement on the bulk of the debt," Annesley said. "Discussions are continuing regarding the remaining $400,000 in dispute."
Annesley told a budget estimates meeting last week the money was owed for use of the stadium and catering services.
Hunter Sports Group spokesman Richard Fisk confirmed Tinkler had withheld payments for ground rental because of the dispute.
"As part of ongoing negotiations for a new 10-year hirer's agreement with Hunter Venues, some payments have been withheld by HSG, subject to the finalisation of the new agreement," Fisk said.
"Negotiations are anticipated to be completed within the next fortnight, with two lump sum payments having been agreed to finalise the transaction."
http://www.dailytelegraph.com.au/sp...-in-stadium-rent/story-e6frexnr-1226501018815
