Tinkler Pulls Out - NBN News reporting

[dutchie]

He wanted everything passed so it was out of the way before the first kick of the ball.

Im sorry, they gave us a date. They also said they wanted the best for the club, well i think that just walked away in the suit that nathan wears.

 

[Sammyyy]

The board set a date in March for the vote. It was the board who agree with Tinkler's deal in principle. The board did not come out and say no to the deal today, it was Tinkler who couldn't wait an extra couple of weeks.

Extra couple of weeks..that will turn into months. He obviously is not wasting his time because he knows that he probably cant negotiate a deal that the board will approve of..hence it will never be given to the members

 

[Jonno]

Do people realise that it was only on the weekend a Legal team read over the offer. They relayed their findings back to Tew, who released a statement last night about the things he wanted to go over with Tinkler in the meeting that was scheduled for this morning.

And Tinkler went running.....

Nothing suss there.

 

[dutchie]

Do people realise that it was only on the weekend a Legal team read over the offer. .

And you know this because it has been reported in the media? The media are gods, they know the truth of everything and anything, trust 110% what they say and nothing else.

 

[Sammyyy]

They received it on Wednesday...so technically not over the weekend.

And this comes from Tew or Burro cant remember

 

[Newieboy]

Do people realise that it was only on the weekend a Legal team read over the offer. They relayed their findings back to Tew, who released a statement last night about the things he wanted to go over with Tinkler in the meeting that was scheduled for this morning.

And Tinkler went running.....

Nothing suss there.

So you're saying they got the offer on the 17th of January and it wasn't looked at by legal people for a month!! WTF?? The most important decision in the HISTORY of the club and what? It sat in Fat *******s draw??? Dear god the utter inncompetence!

 

[Matho]

This club has hit a cross road & this tells a lot about the current Knights board ..... Just hope the Knights got the $$$$$$ to pay back Tinkler & the state gov because this is the start of the cans of worms .... What Tew & co has open ... We will see what the backlash is!!!

 

[Jonno]

They received it on Wednesday...so technically not over the weekend.

And this comes from Tew or Burro cant remember

Knights officials were sent further details of Tinkler's offer - he has agreed to guarantee the club's sponsorship to the tune of $100 million over the next 10 years - on Wednesday and their legal team will spend the weekend sifting through the details before Monday's meeting.


"We received the latest draft contracts on Wednesday evening," Newcastle chief executive Steve Burraston said.
"Our lawyers have been working through them.We will work all weekend to have something back to them before that meeting on Monday.

http://www.theaustralian.com.au/new...ewcastle-knights/story-e6frg7mf-1226008414345

So yeh, they recieved it Wednesday night, they read it over the weekend. And reported back to Tew. I dont see the relevance of them recieving it on Wednesday night has. You expect them to get a legal team in at the drop of a hat, read it and report back in a few hours is the right way to go? They obviously went through it and reported back to Tew as soon as possible.

 

[Sammyyy]

Theres..thursday....and friday....saturday and sunday..4 days. And its not enough? Given they were given the first one in January?!?!

 

[dutchie]

The tinkler haters are failing to see the deal for what it is and only seeing it for what the board are saying it is.

1. Tinkler said he will ensure the knights make 10 mill a year for the next 10 years.

This doesnt involve him spending 10 mil every year for 10 years, It means if the club make under 10 million, he will put in the difference to ensure the club isnt at a loss.

In the current situation if we are at a loss for a season we cover ourselves by accumulating more debt. If tinkler was in, there would be no accumulation of debt.

Tinkler would also clear all our debts and ensure no more is accumulated.

2. A buyback figure.

The board wanted a concrete figure to buy the club back. However in the agreement tinkler had not set an amount. Fair enough. If he puts 50 mil into the knights he is wanting to recoup that 50 mil, not set a figure of 30 mil and be at a 20 mil loss. If i buy a house to renovate and resell, i expect to make back what i put in or over.

3. Junior development.

Whilst there was no textual term in the agreement (so we have been told by the board) tinkler has said he is offering a substantial sum of money towards local development. It is an "in principle" offer of funds towards it. Not a written term.

There is no point in local dev if they all go elsewhere after they are developed.

Of those 3 problems that the board wanted clarification on, what is wrong with them?


Our income is gaurenteed,
Our debts are wiped,
Our power is great,

What more do you want/dont want?

 

[Jonno]

So you're saying they got the offer on the 17th of January and it wasn't looked at by legal people for a month!! WTF?? The most important decision in the HISTORY of the club and what? It sat in Fat *******s draw??? Dear god the utter inncompetence!

No, they recieved it on Wednesday the 16th of February.

This is why all the dramas have happened. The offer proposed in January differs from that put forward last week. Tew and Burro just wanted to go through some fine details in the meeting this morning, but Tinkler pulled a swifty. Again I'll say it, something suss happening there.

 

[Jekk]

What made Tinkler run quite suddenly and without explanation???

 

[Jonno]

Theres..thursday....and friday....saturday and sunday..4 days. And its not enough? Given they were given the first one in January?!?!

FFS, its changed from the first one!!! thats what all the issues are revolving around in Tews statement last night!!!

And I'm guessing you've dealt with club takeovers before, so you'd know how long it takes to go through a proposal? I certainly dont, thats why I leave it to the people appointed to do the job.

Whose the say the legal team couldnt look at it until friday night/ saturday morning, cause perhaps...i dunno... they got other work to do, hence why they worked over the weekend to get it back to Tew ASAP!!!

 

[Sammyyy]

And how different would it be from the first offer?! I thought it was a revised version with some things edited from the first.

Again, bottom line is if the Board wanted this they would have worked their *** off to make this work. Ive lost faith in the board appointed directors..like James pointed out earlier..wanting to re-sign Stone, failure to lure big name players to the club yeh and just thinking that just because the offer didnt work for them it wont work for the members?

 

[A.Snowden]

And how different would it be from the first offer?! I thought it was a revised version with some things edited from the first.

Again, bottom line is if the Board wanted this they would have worked their *** off to make this work. Ive lost faith in the board appointed directors..like James pointed out earlier..wanting to re-sign Stone, failure to lure big name players to the club yeh and just thinking that just because the offer didnt work for them it wont work for the members?

Didn't they organise a meeting with Tinkler today to iron out their concerns? Only to have Tinkler pull the pin today without having the meeting?

 

[amos bean]

how the f*ck did no one see this coming. tinkler comes out and says tew and burro are both gonna lose their jobs if he gets the club and people are suprised they didnt want to sell

 

[Sammyyy]

Didn't they organise a meeting with Tinkler today to iron out their concerns? Only to have Tinkler pull the pin today without having the meeting?

Yes but the thing is Tinkler threatened who knows when, to withdraw his offer if an agreement wasnt reached by Monday. And after outcome of Sundays meeting and what the Knights statement said he was one angry man.

Well we can argue all we want but today we have lost Tinkler's money and offer and the chance to be a sucessful club

 

[carbonclay]

Sorry Afro I have to protect my resources . I can however tell you that it is from a good source. I can also tell you that Tinkler was also ****ed off with dealing with the Knights board who are only interested with their futures and not the future of the club

 

[Higgo]

We've been waiting months for the voting to be announced.

Instead Tew and Burraston have acted on our behalf and decided the offer wasn't good enough.

It's a shambles, even if you disagreed with the offer, you can't agree with the undemocratic way this has been handled.

What exactly is undemocratic...Tinkler withdrew his offer before the Knights put it to a vote.

 

[Jonno]

The tinkler haters are failing to see the deal for what it is and only seeing it for what the board are saying it is.

1. Tinkler said he will ensure the knights make 10 mill a year for the next 10 years.

This doesnt involve him spending 10 mil every year for 10 years, It means if the club make under 10 million, he will put in the difference to ensure the club isnt at a loss.

Currently we make $12m+/year under the revenue outlined by Tinkler in his $10m/year guarentee. So we could be $2m/year worse off.

In the current situation if we are at a loss for a season we cover ourselves by accumulating more debt. If tinkler was in, there would be no accumulation of debt.

Until the day they members get the oppurtunity to buy the club back if Tinkler/TSG pull out, whereby which the cost of the club would match cent for cent what Tinkler has put in over the period of ownership.

Tinkler would also clear all our debts and ensure no more is accumulated.

A Point that noone disagree's is bad for the club.

2. A buyback figure.

The board wanted a concrete figure to buy the club back. However in the agreement tinkler had not set an amount. Fair enough. If he puts 50 mil into the knights he is wanting to recoup that 50 mil, not set a figure of 30 mil and be at a 20 mil loss. If i buy a house to renovate and resell, i expect to make back what i put in or over.

So as a member you'd be willing to contribute to the $50m even though you had no say in how the club was run financially over Tinklers reign? or risk selling the club to a person that could relocate, change the name/colours?

As he is doing it for the community, the buy back figure for the members should be $1. IMO

3. Junior development.

Whilst there was no textual term in the agreement (so we have been told by the board) tinkler has said he is offering a substantial sum of money towards local development. It is an "in principle" offer of funds towards it. Not a written term.

Exactly, if he "is going to do it" whats the harm of writing it down. Currently the knights spend $2m a season in J-Dev, Tinkler should at least match this commitment.

There is no point in local dev if they all go elsewhere after they are developed.

Where has Jarrod Mullen, Kurt Gidley, Cory Paterson, Akuila Uate, James McManus etc. gone?

Most of the guys who have gone, Idris/Tupou in particular, have been developed (resolved weight issues) at other clubs.

Of those 3 problems that the board wanted clarification on, what is wrong with them?


Our income is gaurenteed,
Our debts are wiped,
Our power is great,

What more do you want/dont want?

A guarentee the club has an improvement on current sponsorship/hospitality income.
A Guarentee the club has a secure future after the 10yr period/end of Tinklers control
A Guarentee the Junior football of the region does not suffer, and gets stronger.

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