Nathan Tinkler relinquinshes ownership of the Newcastle Knights

Dudes a grub. We rolled the dice and lost. Ragnor will be happy.

All I've ever heard of Tinkler is that he doesn't pay his bills. Friend of mine knew someone who put pavers around his pool (5 grandish) and even he had to chase the fat p rick for the money...and that was when he was wealthy. Not paying until dispute is settled? Why wouldn't the club just count there losses and get rid of him? First wooden spoon for the Knights this year i think
 
I have absolutely no knowledge when it comes to the business and financial side of the NRL so can anyone tell me, if things aren't resolved are Newcastle in any danger of going bankrupt in the next few years and meeting the same fate as Newtown? (sorry if this is a stupid question, I just read on another topic that we have a massive debt and Im not sure how this all works).
 
I'm sure this won't hurt our already unstoppable recruitment drive! Nothing makes players want to come to a team struggling on the field more than the prospect of not being paid.

But srsly, HSG said they aren't paying players because negotiations with the members is taking too long?? Not cool. Footballers, well paid or not, still have bills to pay.
 
God knows what we're gonna dish up against Manly on Monday night.

Let's face it, its hard to put in the effort when you aren't getting paid.
 
AlbertWillScore97 said:
I have absolutely no knowledge when it comes to the business and financial side of the NRL so can anyone tell me, if things aren't resolved are Newcastle in any danger of going bankrupt in the next few years and meeting the same fate as Newtown? (sorry if this is a stupid question, I just read on another topic that we have a massive debt and Im not sure how this all works).
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Well the last club to go broke - the Auckland Warriors - left all their debts with the bankrupt owners. The next day a brand new club - the New Zealand Warriors, with a new owner, new logo, new name etc, was given the franchise licence and signed up most of the squad.
I don't think it would work exactly the same with us, but the debts would all belong to Tinkler and new owners would start from scratch i imagine.
Don't know what would happen to members and season ticket holders - I assume they would lose it all.

But we seem to be a long way from that.
 
Billy said:
Well the last club to go broke - the Auckland Warriors - left all their debts with the bankrupt owners. The next day a brand new club - the New Zealand Warriors, with a new owner, new logo, new name etc, was given the franchise licence and signed up most of the squad.
I don't think it would work exactly the same with us, but the debts would all belong to Tinkler and new owners would start from scratch i imagine.
Don't know what would happen to members and season ticket holders - I assume they would lose it all.

But we seem to be a long way from that.
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Thanks a lot for taking the time to explain it to me in a way that I can understand. Another question though, what would happen if by some off chance no one was interested in ownership?
 
AlbertWillScore97 said:
Thanks a lot for taking the time to explain it to me in a way that I can understand. Another question though, what would happen if by some off chance no one was interested in ownership?
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Assuming Wests/Members Trust/Whatever didn't want a bar of it my guess is that the NRL would run the club until a suitable owner came along. Similar to how the A-League owned Western Sydney. In any case I can't see the NRL letting the Knights fail.
 
I also don't understand why so much money was spent doing up the stadium, has it ever been close to being filled to capacity? I used to love sitting on the hill and watching games.
 
Billy said:
Well the last club to go broke - the Auckland Warriors - left all their debts with the bankrupt owners. The next day a brand new club - the New Zealand Warriors, with a new owner, new logo, new name etc, was given the franchise licence and signed up most of the squad.
I don't think it would work exactly the same with us, but the debts would all belong to Tinkler and new owners would start from scratch i imagine.
Don't know what would happen to members and season ticket holders - I assume they would lose it all.

But we seem to be a long way from that.
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That is exactly how it will play out. HSG will be left with whatever debts and obligations they have managed to accrue.

And I think we are closer to that scenario than you think. This is the last straw for the NRL, and Tinkler sees the writing on the wall. He obviously doesn't fancy throwing more money at the Knights if he won't be in control in the near future.

I can see a new company being incorporated very shortly, something like "The Knights of Newcastle RLFC" and being given the NRL licence.

AlbertWillScore97 said:
Thanks a lot for taking the time to explain it to me in a way that I can understand. Another question though, what would happen if by some off chance no one was interested in ownership?
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I can't see the members not wanting to resume ownership!
 
Let's hope so Afro Zac. And Canberra are two points in front of us and maybe 4 if the Panthers continue their W L W L W L W record.
 
Nickwpearce said:
Rabs just announced it on NBN... reason for poor form?

With all the bad luck we have had this year and now this, it pretty much confirms this season is gone and our semi final hopes are a very dim light also explains why we can't sign a decent forward... how will this impact our current talks with players?
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Definate reason, all is forgiven for the poor form and just glad they have had they are playing at all.

God we are rabble and if Tinks ever goes near newcastle I hope he gets lynched.
 
This would have to be our worst season ever - Alex's injury, coming second last, the bank guarantee not being honoured, the dispute over the ownership, rumors of a huge amount of debt and now the players wages and super not being paid.

Hopefully the members club has reached an agreement with Wests about them backing the club and they are just waiting for Tinkler to sign the transfer of ownership back to the members club.
 
AlbertWillScore97 said:
I have absolutely no knowledge when it comes to the business and financial side of the NRL so can anyone tell me, if things aren't resolved are Newcastle in any danger of going bankrupt in the next few years and meeting the same fate as Newtown? (sorry if this is a stupid question, I just read on another topic that we have a massive debt and Im not sure how this all works).
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Next few years you mean the next few weeks!

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Captain Planet said:
I agree on paper Canberra still have a worse team than us even with our injuries.
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Are you serious they are top 8 on paper bro!

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slotmachine said:
All is forgiven? They missed payment on Thursday.

I could forgive a poor training session yesterday.
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Has happened repeatedly mate, not as if this is a glitch in the matrix.

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Lefty said:
This would have to be our worst season ever - Alex's injury, coming second last, the bank guarantee not being honoured, the dispute over the ownership, rumors of a huge amount of debt and now the players wages and super not being paid.

Hopefully the members club has reached an agreement with Wests about them backing the club and they are just waiting for Tinkler to sign the transfer of ownership back to the members club.
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Why he even has to sign is beyond me he defaulted we should automatically get it back for a buck, with the $10 million guarantee.
 
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