Nathan Tinkler relinquinshes ownership of the Newcastle Knights

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

  1. Billy

    Billy Danny 'Bedsy' Buderus

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    Our trackrecord is very good.
    Till Tinkler bought in we were one of only 2 clubs who had never been bailed out of a financial crises (us and the Broncos) - and the only reason we were in financial trouble was because the stadium was being rebuilt and half the seats were unavailable for a few seasons.
    We have been bailed out once. Teams like Easts and Manly have been bailed out a dozen times. Manly pretty much gets topped up with a cash handout every season.
     
  2. Captain Planet

    Captain Planet Nathan Barnes

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    Dont let the door hit ya fat **** on the way out ! And u still owe me $20bucks
     
    Last edited by a moderator: May 23, 2014
  3. Swarzey

    Swarzey Michael Hagan

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    It means we'll finally have a sustainable business model. We'll have people who can financially run the club, expand on it and keep it going for as long as the game is around. The people who run the club will know how the market it and attract the big sponsors. Furthermore, I feel a strong rugby league club will greatly benefit Newcastle. Our club's history has always had people running it further and further into the ground; we were almost on our last legs prior to Tinkler and I just don't want to see if we can get any lower. If it means having people who know jack all about the sport run it, then I'm all for it.

    What this club can become with the right minds could be anything.
     
  4. BrianWilson

    BrianWilson Default?

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    Agreed. We don't need ex-players and people who 'know football' to run clubs, always annoys me when people care if Dave Smith knows who Benji Marshall is. If you want a club to survive you have to run it like a business. Operational management shouldn't effect the 'club' aspect.
     
  5. slotmachine

    slotmachine Danny 'Bedsy' Buderus

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    Bring it on. Supporting a professionally run club will be a nice change.
     
  6. member 2299

    member 2299 Danny 'Bedsy' Buderus

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    Oh ragnor where will these posts go now NT has gone?
     
  7. rhugh89

    rhugh89 Danny 'Bedsy' Buderus Staff Member Admin

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    Despite the acrimonious split, Nathan Tinkler leaves Knights with $5m sponsorship gift


    • BARRY TOOHEY
    • THE DAILY TELEGRAPH
    • MAY 25, 2014 12:00AM

    THE party might have ended for Nathan Tinkler at the Newcastle Knights but it hasn’t stopped him leaving behind a farewell gift — a $5 million sponsorship.

    It’s understood the deal, worth $1 million a year over five years, was negotiated and agreed on between Tinkler’s Hunter Sports Group and the NRL during the handover process last week.

    HSG CEO Troy Palmer confirmed the figure on Saturday during an interview with The Sunday Telegraph, claiming that while Tinkler has relinquished his ownership of the Knights and will have no future role in running the club, he still wants the Knights to prosper.

    “Just because he is going doesn’t mean he is any less a supporter of the club,” Palmer said.

    “Like everyone in Newcastle, he wants to see the club do well and still wants to do his bit to help make that happen.

    “Contrary to what some people seem to think, he is willing to step up when others don’t.

    Palmer said the sponsorship will be attributed to a company of Tinkler’s choosing when the time comes.

    Tinkler’s act of goodwill may be looked apon with scepticism by his many critics who are happy to see the back of him but Palmer said the sponsorship offer is genuine and has been agreed to by the NRL.

    While speculation continues to swirl around about the state of the Knights books and just how much debt the club has accumulated over the three years since Tinkler was in charge, Palmer is adamant it is less than the $10.52 million the Knights currently have sitting in a bank account.

    He scoffed at rumours of debts approaching $20 million and significantly, claimed HSG will meet all their financial obligations.

    “The total debts of the club are considerably less than the $10.52 million term deposit,” he said.“HSG will take responsibility for all liabilities.”

    That will be music to the ears of Wests Group management, who are being courted by the NRL to play a big role in back-rolling the Knights going forward following Tinkler’s departure.

    It’s understood Wests are interested but understandably, won’t get involved if they are asked to cover existing debt.

    Meanwhile, the future of coach Wayne Bennett and his staff remains clouded although suggestions all their contracts are now null and void because they are with HSG and not with the Knights is a fallacy according to Palmer.

    “Wayne and all his staff are contracted to the Newcastle Knights and always have been,” Palmer said.

    http://www.dailytelegraph.com.au/sp...sponsorship-gift/story-fni3gf5j-1226930324566
     
  8. rhugh89

    rhugh89 Danny 'Bedsy' Buderus Staff Member Admin

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  9. Billy

    Billy Danny 'Bedsy' Buderus

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  10. Beaumont

    Beaumont Danny 'Bedsy' Buderus

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    I heard Andrew Johns on Triple M yesterday going into bat for Tinkler saying how much he'd done for the club. In particular he was talking about the archaic training facilities that existed when he played and said that Tinkler had built and provided a training center of excellence. Whate are the facts re the training facility at Mayfield ? Did Tinkler pay for it and is it ours or does Wests own it and we pay rent ?
     
  11. Sammyyy

    Sammyyy Knights 2013

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  12. rhugh89

    rhugh89 Danny 'Bedsy' Buderus Staff Member Admin

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  13. rhugh89

    rhugh89 Danny 'Bedsy' Buderus Staff Member Admin

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  14. Billy

    Billy Danny 'Bedsy' Buderus

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    Again with the 20 million debt claim.
    I can't work out how that would be possible.
    Our biggest liability is the wages bill, and we are told that is up to date.
    We might owe some super, but that couldn't possibly be more than 10s of thousands - 100s at the outside.
    Stadium rental is up to date I think, or we would have heard about it.
    Payments to the real NRL would be up to date, or we would have heard about it.

    So 20 mill for what? Gidley's medical bills? Steaks for the Chief? Cost of feeding Tinkler?

    The 20 mill could only be the estimate for running the club for the next year - which would be about right - pre Tinks it was about 15 mill a year to run the club - now about 20 mill a year. I don't know why you would call that 'debt', although it is money the new CEO will have to come up with.
     
  15. Captain Planet

    Captain Planet Nathan Barnes

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    Pure gold lol
     
  16. ragnor

    ragnor Michael Reid

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    The following is conjecture but it should give an idea how 20 million is a possibility.


    Tinkler has admitted he is spending $3 million more per year on football operations than other clubs. Times this by 3 years and you have $9 million.


    There has been a massive shortfall in sponsorship since Tinkler took over. I've been told $4 million a year. Times this by 3 years and we now have $21 million.


    Plus we know Super hasn't been paid. There is more money.


    I'm sure the above isn't accurate but it hopefully gives you an idea how easily it is to reach $20 million.



    Knights wages are reported in various sources being around the $16 million mark meaning super requirements would be around the $1.6 million a year.


    Super is required by law to be paid every 3 months. Assuming the last quarter is outstanding there is potentially $400,000.



    Hunter Sports Group has the lease for Hunter Stadium. The Knights in turn pay Hunter Sports Group.


    Certainly if HSG hadn't paid the government then I am sure we would have heard about it, but if the Knights owe HSG I doubt anything would have been said. Certainly an avenue for more debt, as well as siphoning money out of the club.


    HSG charge the Knights a management fee. Again another avenue for debt and siphoning money out of the club.
     
  17. rhugh89

    rhugh89 Danny 'Bedsy' Buderus Staff Member Admin

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    We'll be in a better position: Mullen

    By Matt Logue

    Mon 26th May, 12:41PM


    It’s been a tough few days for the Newcastle Knights but star five-eighth Jarrod Mullen insists the playing group is fully focused on the season ahead, starting this Sunday against the Warriors in New Zealand.

    In the wake of last Friday's announcement that the Hunter Sports Group will have no further role in the Knights, Mullen says the team remains determined to put aside any off-field issues in a bid to resurrect their season.

    "It’s obviously sad for the club, because Nathan (Tinkler) has put a lot of money into the club and it’s disappointing," Mullen said after training on Monday.

    "But it’s business as usual for us and we’ve just got to worry about our football and get back to winning games.

    Mullen also believes the Club will bounce back and become bigger and better once a new ownership model is finalised.

    "Once all this (ownership) stuff gets sorted out, I’m sure the Club is going to be in a better position for it," he added.

    "Hopefully we can sort it out sooner rather than later and everyone can start worrying about football then.

    "We’ve got a job to do over in Auckland this week and we need to get our season kick-started quick smart.

    "We haven’t talked about it (ownership) at training at all to be honest.

    "This is the first day we’ve come in and it was a bit of a games day to get a smile on everyone’s face again and just run around and
    get the footy in everyone’s hands."

    Mullen admits he has faced harder times at the Club in the past, recalling his maiden season in the NRL in 2005, a year when the Knights lost 13 consecutive matches to collect the Club's first wooden spoon.

    "We’ve been through a lot worse than this," he insists.

    "When I first came here, we lost 13 in a row and that was back in ’05.

    "The Club is definitely in a better position now.

    "We’ve got great facilities here, a great coach and great players.

    "So we just need to get the performances on the field now."

    Mullen says his teammates can't wait to take on the Warriors on Sunday, especially after their strong effort against the Manly Sea Eagles before the bye.

    "I think we can take lot of confidence out of that Manly game, even though it was a heartbreaking loss," he says.

    "They have definitely got one of the strongest forward packs in the comp and I thought for most of the game we played over them.

    "I thought we were unlucky not to win that game, but we didn’t and we’ve just got to move forward to next week."

    Mullen, meanwhile, says he hopes coach Wayne Bennett remains at the helm in Newcastle.

    "For me personally, I think it’s very important," he says.

    "He has done a lot for my career and he has put a lot of confidence in me as a player.

    "So I’d love to have him for a few more years, but that’s up to him and family.

    "He has got his family to worry about, so we’ll wait and see what happens.”


    http://www.newcastleknights.com.au/news/2014/05/26/we_ll_be_in_a_better_position_mullen.html
     
  18. Billy

    Billy Danny 'Bedsy' Buderus

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    Just watching an interview with Tinkler on the money channel and he claims the Knights were 7 million in debt to the ATO and all the directors were liable for the debt and would have been bankrupted if he hadn't taken over. He also says the Knights and the Jets would have had their licenses cancelled.
    His last shot was to say the club is now back to where they are comfortable - underfunded and paid for by pensioners feeding poker machines.
     
    Last edited: Jan 18, 2019
  19. slotmachine

    slotmachine Danny 'Bedsy' Buderus

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    It was always curious why the members club didn't buy the club back for $1 and claim the safety fund $$$ when Tinkler failed to meet his guarantees. Instead they handed the club to the NRL.

    There was talk around at the time that there were significant liabilities (not just ATO) and/or litigation in progress that the directors would be liable for. Obviously they chose to give the club away and avoid that.
     
  20. Kurriboy

    Kurriboy Adam Woolnough

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    Probably came down to the NRL saying you can either battle on yourselves and risk losing the club altogether, or let us own it and we will guarantee the Knights won't fold.
     

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