Nathan Tinkler relinquinshes ownership of the Newcastle Knights

Discussion in 'Newcastle Knights Discussion' started by Nickwpearce, May 16, 2014.

  1. member 2299

    member 2299 Danny 'Bedsy' Buderus

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    Whatever Tinker Belle said I would take it with a grain of salt. The only one to finish well in front was Uncle Benny.
     
  2. R_A

    R_A Adam Woolnough

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    How much money does Tinkler have now? lol

    Well no **** we were in debt when he took over, we had been in debt for some time. Even after the loans that he gave to the club.

    But what does running the Knights on the Broncos budget which was always unsustainable have to do with his own bad decisions in horse racing/mining and pretty much everything?

    https://www.yourmoney.com.au/busine...ormer-bankrupt-and-coal-billionaire-opens-up/ - link for anyone interested

    Good for him that he got out of his bankruptcy
     
  3. Billy

    Billy Danny 'Bedsy' Buderus

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    Tinkler did have a Trump like recollection of a lot of events.
    Apparently the brown paper bags full of money for Liberal party candidates did a lot of good.
     
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  4. R_A

    R_A Adam Woolnough

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    From my understanding and particularly in the horse racing industry his biggest issue was he didn't listen to advisors.

    He was probably somewhere between a snake oil salesman and someone who ventured in to industries in which he had absolutely zero knowledge.

    If he gets back into coal/energy good luck to him
     
  5. Billy

    Billy Danny 'Bedsy' Buderus

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    The interviewer actually asked him about Jerry Harvey saying he didn't listen to advice, and Tinks said he did listen to Jerry Harvey, but didn't follow his advice because "he's his own man".
     
  6. R_A

    R_A Adam Woolnough

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    Well it's no coincidence all of this happened when all of Tinkler's stuff/toys started getting repossessed. And loss of stock value.

    Which then trickles down to this staff and even his interests that he owned in the horse racing industry were severely underfunded.

    Even trying to mask the situation by publicising the feud between his right hand man over the Jets license which didn't seem as big of a deal because license values would be different I imagine?
     
  7. Wobbles

    Wobbles Andrew Tangata-Toa

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    I remember when he said that, it cracked me up. For all of the success he had (mostly due to lucky timing), he sure made some dumb decisions.

    In a throwback to the 17th century craze of the Dutch going nuts in tulip futures, I'm ignoring my financial advisor and giving it a go myself. It sounds like a sure thing!
     
  8. R_A

    R_A Adam Woolnough

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    To be honest this was not far off the mark in a nutshell. Guy got a bit arrogant I think which led to him not listening to his advisors.

    Don't wish anyone ill will because he wasn't a bad person so hopefully he gets back on his feet
     
  9. Billy

    Billy Danny 'Bedsy' Buderus

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    If he's not a bad person, I don't know who is.
    He tried to screw over everyone he did business with, even his own family.
    You'd be crazy to do any business with him unless you got cash up front, all the way down to sweeping his driveway.
    He never paid a penny till after the court case, and then he paid 2c in the dollar.

    The other way of looking at it is that everyone saw Tinks coming, especially in the racing industry, and charged him top dollar for everything, so Tinks agreed to pay top dollar, but they had to wait 10 years and take him to court before they saw a cent of it.
     
    Last edited: Jan 21, 2019
  10. Quinny

    Quinny Todd Bates

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    Tinkler ran numerous small businesses into the ground by refusing to pay them which his not alone in doing a lot of big mining and construction companies do this ( one of many reasons why big business tax cuts are laughable policy). How many families lost their businesses or homes, his in no way a good person and if he was a decent person maybe his wife would not of left him.
     
  11. R_A

    R_A Adam Woolnough

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    Yeah if you take into account dealing with him business wise I guess.
    Funny that he might get back into coal/energy when all is said as done, whether people deal with him however...
     

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