The Tinkler thread
- Thread starter jamesgould
- Start date
Grandpa Joe
Danny 'Bedsy' Buderus
Knights loose nothing by sticking by him with the bank guarantee in place except for repaying the good work he has done in standing by the Knights all the years we needed loans and finally turning us into a proffessional footy team instead of amaeture hour we were previously.
I say give Tinks time and even if he doesn't come good atleast we aren't arseholes who fleeced him when he was already getting skinned.
I say give Tinks time and even if he doesn't come good atleast we aren't arseholes who fleeced him when he was already getting skinned.
No use being in denial. Where there's smoke there's usually fire. Tinkler don't like paying his debts.....fact. What the ongoing headlines concerning Tinkler's debt does to the mindset of the players one can only guess. For Tinkler the Fairies have turned into a huge African American named Bubba.
callumtear
Willie Mason
Hindsight.
Who even did that? People were bagging Burraston for doing such a poor job with the negotiating that Tinkler walked away ...
I say build a statue of Tinkler, considering all he's done for the club, and he also saved the Jets from oblivion.
FFS, you're the guy who said "I'm not fussed if he pays nothing"!!!
Robbie Tew was not acting in his own interest...he was acting in the best interest of the Knights.
We only now see the value in him extracting the best deal for the club...not himself
I really have no idea of what I might have said without seeing the context of the quote. However as I recall it, barring some frustrated comments when Tinkler walked from the deal (which are human nature) most were mainly critical of Burraston, who I still think was attempting to save his own skin, rather than looking at the overall good of the club. How he could have seen the Patrons model as superior to what we've got now, I still don't know.
I do remember saying at the time that I thought Tinkler probably did that to enrage the public and get people behind him, pressuring the Knights into a faster negotiation process. But still, it shouldn't have got to that stage.
Tew did a great job, but was that ever really in doubt?
Oh my god, 3% battery, you're living on the edge there!
Nice to know she spent her last bit of battery life on the forum though!
What's the arrow around the lock mean? I've never seen that before.
What's the arrow around the lock mean? I've never seen that before.
Lol, SMH has been calling Tinks dead in the water since all the takeover plans took over and even before that. And still seems to be going with it.
- - - Updated - - -
TheBatman
Tim Maddison
Stop's the screen from rotating
Not to bring up any old arguments but the Patron's trust seemed like a good last resort option, and with the (real) debt that we had could have saved the club either way I imagine? Was there any negatives towards it other then the club being run under the same management with Burro in charge and not a guarantee of that income from interested investors?
Of course that meant with Partons, no bank guarantee, no cleared of debt (all before and seperate to the money the club makes in sponsorship etc), no junior funding and whatever else was included in the revised takeover agreement. But by the looks of it the debt clearance would have been first priority with any sort of cash injection. I dont know how long the club could have lasted without the debt clearance really.
If worst comes to worst the club is sold back to the members for a dollar. Even the clubs profile with it's sponsors is much stronger then it was before. Why the hell are people worried?
Joshhh
Danny 'Bedsy' Buderus
Best feature ever, hate when the screen moved around!
Joshhh
Danny 'Bedsy' Buderus
Newcastle Knights in a $20 million dilemma with Nathan Tinkler's ownership of club under threat
By James Hooper
Wayne Bennett and the Newcastle Knights. Owner Nathan Tinkler's financial problems continue to concern the club.
TROUBLED billionaire Nathan Tinkler's ownership of the Newcastle NRL team is under threat due to a standoff with the Knights Members Club board over the terms of his $20 million bank guarantee.
In the same week that Tinkler had his $15 million private jet and a helicopter re-possessed, News Limited has learned Hunter Sports Group has asked for an independent audit of the Knights, which was due to be completed by next Saturday, to be pushed back to February 15.
But the Knights Members Club board have refused to comply unless Tinkler extends his $20 million bank guarantee - due to drop to $10.3 million on January 1 - across the same time frame.
"There's a lot of concern in Newcastle and the Hunter community.
The Knights Members Club board are being asked to stay vigilant and alert," Knights Members Club board chairman Nicholas Dan said.
"We want to make sure the bank guarantee stays at its highest until they've finished the independent audit obligations, but HSG have a difference of opinion there.
"By moving the audit date but not moving the bank guarantee date means Knights members can no longer put pressure on HSG for any funds to be committed if there's a shortfall.
"We're communicating with them just about daily and we're pleased that the auditing process is commencing."
The latest development comes as Tinkler's empire continues to crumble, with horse racing arm Patinack Farm and another company, Mulsanne Resources, placed into liquidation.
And last Thursday, the NSW Government launched legal action against HSG over $600,000 in unpaid rent for Hunter Stadium.
Under the terms of Tinkler's 10-year $100 million privatisation deal, HSG guaranteed the Knights Members Club would be supplied with an independent audit on December 15 each year.
Failure to do so is a breach of the contract, but Newcastle chief executive Matt Gidley denied Tinkler's tenure as owner was under fire.
"Obviously (Tinkler's) had a number of issues in his own business world through the course of this year, but it sort of gets washed over the amount of investment he's poured into our club," Gidley said. "To have someone like Wayne Bennett ... without Nathan Tinkler there's no Wayne Bennett at Newcastle.
"Having our membership where it is, we were third in crowd attendance this year even though we finished 12th.
"The club is well positioned to really push into 2013 and be a genuine contender. It's important we acknowledge that and enter 2013 focused on the footy and support our team as best we can.
We look forward to meeting with the Members Club as soon as possible to find a resolution in order to continue to put the focus back on the club."
News Limited can reveal accounting firm Crosby Warren Sinclair will begin the audit this week, where HSG must make up any shortfall on the promised $10 million in sponsorship and $2.5 million in junior development.
Failure to inject the cash could result in the Members Club calling on the $20 million bank guarantee to be placed into a joint account.
If Tinkler's deal with the Knights were to collapse, the contract of Bennett and all other staff employed by HSG would be placed in jeopardy.
http://www.dailytelegraph.com.au/ne...lub-under-threat/story-e6freuy9-1226532849905
By James Hooper
Wayne Bennett and the Newcastle Knights. Owner Nathan Tinkler's financial problems continue to concern the club.
TROUBLED billionaire Nathan Tinkler's ownership of the Newcastle NRL team is under threat due to a standoff with the Knights Members Club board over the terms of his $20 million bank guarantee.
In the same week that Tinkler had his $15 million private jet and a helicopter re-possessed, News Limited has learned Hunter Sports Group has asked for an independent audit of the Knights, which was due to be completed by next Saturday, to be pushed back to February 15.
But the Knights Members Club board have refused to comply unless Tinkler extends his $20 million bank guarantee - due to drop to $10.3 million on January 1 - across the same time frame.
"There's a lot of concern in Newcastle and the Hunter community.
The Knights Members Club board are being asked to stay vigilant and alert," Knights Members Club board chairman Nicholas Dan said.
"We want to make sure the bank guarantee stays at its highest until they've finished the independent audit obligations, but HSG have a difference of opinion there.
"By moving the audit date but not moving the bank guarantee date means Knights members can no longer put pressure on HSG for any funds to be committed if there's a shortfall.
"We're communicating with them just about daily and we're pleased that the auditing process is commencing."
The latest development comes as Tinkler's empire continues to crumble, with horse racing arm Patinack Farm and another company, Mulsanne Resources, placed into liquidation.
And last Thursday, the NSW Government launched legal action against HSG over $600,000 in unpaid rent for Hunter Stadium.
Under the terms of Tinkler's 10-year $100 million privatisation deal, HSG guaranteed the Knights Members Club would be supplied with an independent audit on December 15 each year.
Failure to do so is a breach of the contract, but Newcastle chief executive Matt Gidley denied Tinkler's tenure as owner was under fire.
"Obviously (Tinkler's) had a number of issues in his own business world through the course of this year, but it sort of gets washed over the amount of investment he's poured into our club," Gidley said. "To have someone like Wayne Bennett ... without Nathan Tinkler there's no Wayne Bennett at Newcastle.
"Having our membership where it is, we were third in crowd attendance this year even though we finished 12th.
"The club is well positioned to really push into 2013 and be a genuine contender. It's important we acknowledge that and enter 2013 focused on the footy and support our team as best we can.
We look forward to meeting with the Members Club as soon as possible to find a resolution in order to continue to put the focus back on the club."
News Limited can reveal accounting firm Crosby Warren Sinclair will begin the audit this week, where HSG must make up any shortfall on the promised $10 million in sponsorship and $2.5 million in junior development.
Failure to inject the cash could result in the Members Club calling on the $20 million bank guarantee to be placed into a joint account.
If Tinkler's deal with the Knights were to collapse, the contract of Bennett and all other staff employed by HSG would be placed in jeopardy.
http://www.dailytelegraph.com.au/ne...lub-under-threat/story-e6freuy9-1226532849905
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mozza
Game on broheim
I know when the government siezed my private jet and helicopter it was a rough time. But somehow I managed to survive.
Billy
Danny 'Bedsy' Buderus
The problem Tinks has is that the sharks are circling him.
He has a racing business worth 200 million that he would like to unload, and that would get him out of trouble, but the Sharks are fully aware that they can pick it up for a fraction of that if they just wait for Tinks to fail.
He will be a much wiser businessman if he fights his way through this.
He has a racing business worth 200 million that he would like to unload, and that would get him out of trouble, but the Sharks are fully aware that they can pick it up for a fraction of that if they just wait for Tinks to fail.
He will be a much wiser businessman if he fights his way through this.