Tinkler Pulls Out - NBN News reporting

[Frosty]

I understand all of your guy's opinions, it's just i am ****ed that now we won't be able to get anyone like Bennett or possibly TLL or anyone their calibre now.

Do you really think that money drives Wayne Bennett?? Come one give the man some credit. If money was the main factor for Bennett he would have signed with the Roosters before the Dragons. Trust me Wayne has alot more honour then that and if he wanted to coach Newcastle it would have been for alot more reasons then a private jet paid by Tinkler.

In fact i think it would be the opposite.. It would be a huge concern for him to see Tinkler offer Snowden $1.6 million without even speaking with Rick Stone. Wayne Bennett does not operate like that and i think if we were flies on a wall i think Russell Crowe would be assuring Wayne that he would butt out of recruiting players until advised by Bennett if he signed with Souths.

 

[NathanTheRocket]

I understand all of your guy's opinions, it's just i am ****ed that now we won't be able to get anyone like Bennett or possibly TLL or anyone their calibre now.

That would have been all well and good but when their is no money for junior developement then it is really pointless. It's all good to put cash into today's stars but what about tommorow's. It just shows that Tinkler just doesn't have the mind to be in control of this club.

 

[brentus777]

gee i hope tinkler doesnt get into another team (central coast) and becomes a force... that would be sad...

 

[Magumba]

I hope you are not a functioning member of society with the power to vote in elections.

Tew and Burro today stood up for us, the members and supporters of the Knights.

They did what was right and what was needed to ensure and protect our involvement and the future of the kids of the region.

For this, they are bloody legends.

And what do they get for it? People like you spreading lies.

Great stuff Fro !!!!!!

 

[Frosty]

Exactly, it shouldnt be us v them, but the reality is... it is...

We as the members have NO say atm. It is only a small handful of people in power that are making the choices atm in regards to what they want.

At the end of the day, we are going to be voting for what we want as a model, but all the intricate details have nothing to do with us. Not saying everyone should vote on every single point.

But what tinkler offer was available should have been put on a ballot paper and allowed to see where it went. It does matter if we like it or not, if it got the support then that is enough, good or bad.

The fact is the board are not allowing the members their right in the capacity it should be.

When we vote on a government there are clear deadlines, we get to vote regardless of whether we like the party policy or not. If you dont like what you hear, you vote that way. If you want it, vote yes.

When it boils down to it, you may have voted liberal but we get labour. Big deal, tough luck, thats what a vote is. Majority wins.

Mate you can't read between the lines can you its members like yourself that make me even prouder of what Burro & Tew done for us today...

 

[NathanTheRocket]

I hope you are not a functioning member of society with the power to vote in elections.

Tew and Burro today stood up for us, the members and supporters of the Knights.

They did what was right and what was needed to ensure and protect our involvement and the future of the kids of the region.

For this, they are bloody legends.

And what do they get for it? People like you spreading lies.

This.

Believe it or not, Tew and Burro actually had the best interest in the Knights and thier future today. They weren't going to just let the members vote for Tinkler without knowing the fine little details of the deal.

 

[dutchie]

And what do they get for it? People like you spreading lies.

No, just my opinion. Im entitled to that.

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Everyone is entitled to their opinion on the matter, i have mine, and everyone else has theirs. Whether it be right or wrong.

---------- Post added at 04:52 AM ---------- Previous post was at 04:50 AM ----------

Its funny, we have tinkler/supporter lovers, then we have the tinkler/supporter haters. As well as the burro/tew/supporter lovers and the burro/tew/supporter haters.

Just like liberal, labour and greens.

Frankly you take whatever side you want, thats the beauty of freedom. Just dont bash the other people for their opinions, right or wrong. Because it is soley that, their opinion.

I just hope whatever option, tinkler, patrons trust or current, gets the job done and keeps us going.

---------- Post added at 04:59 AM ---------- Previous post was at 04:52 AM ----------

http://www.newcastleknights.com.au/default.aspx?s=article-display&id=32917

The Tinkler Group offer is a 10 million dollar per annum guaranteed sponsorship for 10 years and is a significantly higher financial commitment than the previous Tinkler Group offer and is a superior offer to the patron’s trust model.

Knights board said the above. More importantly

is a superior offer to the patron’s trust model.

And today, same models, same details, and its a backflip and the Patrons Trust model is superiour to the tinkler offer.

Im confused.

 

[TheRedAfro]

No, just my opinion. Im entitled to that.


I just hope whatever option, tinkler, patrons trust or current, gets the job done and keeps us going.

Here here.

I must apologise for my harsh words, but just reading through the Herald article comments had me enraged at the amount of people who always claim it's for their jobs.

If someone was really out to protect their job, wouldnt they bend over backwards to please the public?

But yeah, all I really care for is the future of the Knights. It's a fact that Burro has overseen the careful rebuilding of our finances, and he is doing a good job of it.
It also seems to be fact Tinkler is gone (for now), so I'm keen to see any other proposals, even if they are inferior.

 

[Jonno]

And today, same models, same details, and its a backflip and the Patrons Trust model is superiour to the tinkler offer.

Im confused.

Who runs the club under the Patrons Trust Model?

Does it involve Private ownership, where all the control is in the hands of one man/TSG?

Or does it run under the same constitution the club is run now?

Answer those questions and I might be able to explain how all of a sudden the Trust Model has become superior to the Tinkler Offer (which has apparently changed since those first comments were made by the board, e.g. the $10m/year in sponsorship has changed too $10m a year in sponsorship and hospitality revenue)

 

[dutchie]

The Newcastle Knights Board today announced it would move to finalise negotiations for the establishment of a Patrons Trust

Is their any public information about this yet?

Knights Chairman Rob Tew said that the Tinkler Group’s proposal in its current form would have been just as unacceptable to the Club’s Members as it was to the Knights Board.

Thats not for him to decide.

“What was initially touted as a $100 million guaranteed offer to buy the Knights has turned out to be a small fraction of that offer with no certainty for the club beyond two years and a host of other liability questions unanswered,” Mr Tew said.

Were these details not available at the last meeting that they "agreed to in priciple"?

We believe continuing to operate the club on the current basis and re-opening other options previously on the table makes the most sense.

Im aware of only one - Patrons trust.

“At the time we announced “in-principle” support for the Tinkler Group’s offer in its revised form, we also referred to a number of other options available to the Club. This included the potential establishment of a Patrons Trust

Again, the details of tinklers offer, have they changed since they agreed to it in principle? If the details are the same, why the backflip? What are the option(s)? It is the patrons trust and ........ ?

“The Patrons Trust model has been successfully used in other football codes to help clubs advance their growth plans.

What does this model involve? does anyone know? what other codes, clubs use it?



From reading the statement made in janurary, tew said tinklers offer was superiour to the patrons trust, this is when they agreed in principle to tinklers offer. I assume that the offer that was put forth then should very well be the same offer that was going to be negotiated on today (and the finer points made clear to the public yesterday).

So to me, the board knew about the omition of junior development, and the extent of the 100mil over ten years, or lack thereof, but agreed to it in principle. Or where these details left out of tinklers bid that they in principle agreed too? As tew said "a mirage", so tinkler just slipped these other details in?

Now, tew has said the patrons model is superiour. Using what i have said above, if they are the same models that were present at the time they agreed to tinklers model in princple, how does it now turn out that it is superiour? Again, unless the finer details were not know back then :S

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Importantly, the Patrons Trust would allow the Knights to maintain its current membership structure. That is, we could continue to operate as a community-based club that has the best interest of Members at its heart

by that, it is the same structure now, just an external cash flow???

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the Patrons Trust would be used to access funds for capital expenditure, junior development, community programs, special projects, resource improvements and the like

Not sure where these funds come from, third parties, current sponsors, a newcastle business consortium?

 

[timmy_18]

DISGRUNTLED Newcastle Knights members have called a crisis meeting at 6pm at Lambton’s Mark Hotel tonight to discuss Nathan Tinkler’s withdrawal of his $100million offer to take over the NRL club.The Newcastle Herald has been told the meeting has been called with a view to attracting at least 100 members, who would then be in a position to call an extraordinary general meeting in 21 days to move a vote of no confidence in the club’s board of directors.
The Herald understands that if that extraordinary general meeting went ahead and the current board was effectively voted out, an interim board could be elected and that could potentially clear the way for Tinkler to reconsider and put his offer back on the negotiating table.
At least 75 per cent of members must vote in favour of Tinkler’s proposal to change the club’s constitution and allow the mining and racing magnate to take control.
In an interview with the Herald today, Tinkler said he had pulled his offer and walked away and would have no further dealings with the NRL club under their current management, which is headed up by chief executive Steve Burraston and chairman Rob Tew.
Tinkler and the Tinkler Sports Group management team were due to meet at 2pm today with Knights chief executive Steve Burraston and chairman Rob Tew to resolve their differences but a furious and frustrated Tinkler has told the Herald that the meeting has been cancelled and his offer withdrawn.
Fed up with what he perceived to be procrastination by Knights management since they rejected his initial $10 million proposal three months ago, which he upgraded on January 17 to up to $100 million for the next 10 years, Tinkler said he had done all he can but had had enough.
Burraston and Tew have called a 2.30pm media conference today.

 

[Sammyyy]

So..a lot of you are saying Tinkler will have to pay nothing and hes getting the club for free.

But you forget that he has the power to lure big names to the club, ensure success and our debts are gone. He is a business man and duh you want profit. The Board need to take a long hard good look at themselves..it frustrates me that they arent rejoicing Tinkler is wanting to buy the club and instead all these complications come up because they think hes up to something and werent even intimidated by the fact he was going to pull out of the offer.

---------- Post added at 04:20 PM ---------- Previous post was at 04:18 PM ----------

to call an extraordinary general meeting in 21 days to move a vote of no confidence in the club’s board of directors.

The Herald understands that if that extraordinary general meeting went ahead and the current board was effectively voted out, an interim board could be elected and that could potentially clear the way for Tinkler to reconsider and put his offer back on the negotiating table.

ray:

 

[Jonno]

So..a lot of you are saying Tinkler will have to pay nothing and hes getting the club for free.

But you forget that he has the power to lure big names to the club, ensure success and our debts are gone. He is a business man and duh you want profit. The Board need to take a long hard good look at themselves..it frustrates me that they arent rejoicing Tinkler is wanting to buy the club and instead all these complications come up because they think theres something wrong and werent even intimidated by the fact he was going to pull out of the offer.

1. Profits can come by cutting costs, i.e. junior development.

2. He does not take home any of his profits so thats a mute point.

---------- Post added at 04:22 PM ---------- Previous post was at 04:21 PM ----------

the herald understands?

The herald probably called the damn thing.

 

[dutchie]

I understand that tinkler gaurenteed 10 mil over 10 years. Correct me if im wrong, but i dont think it said it will be his own money on top of what the knights already get.

It is basically gaurenteeing the knights will not be at a loss for the next 10 years, which may/may not happen under the current system. If the knights only made 5 mil one year, tink would put forward the other 5 mil to ensure there is no loss for the club. Otherwise atm if we posted only 5 mil, we would be at a 5 mil loss without a way of getting money, unless we go into more debt (which tinkler would eliminate).


Now the ability to buy the club back.

If tinkler pumps in extra money per year, or whatever he puts in. Lets just say 2 mil a year for 3 years and we want to buy the knights back. Thats 6 mil (the extra he has put in), plus 3 mil that he paid to clear the debts, that 9 mil to get the knights back from him.

Obiously the more he puts in, the more we pay to get it back.
He may pump 15 mil into the knights in a year (exageration) and that would mean we would need to pay over that much to get it back.

The knights wanted a locked in buyback figure. Meaning tinkler could potentially be at a loss. Ie, saying we can have the club back for 20 mil, and him putting 30 into it. These figures are fictional and just examples.

At the current deal, tinkler had no set buyback figure, only his losses(unknown ammount) to be covered if we ever wanted the knights back.

3rdly was the junior development.

It says it was left out of documents and basically was a trust me deal. I will put a lot of money into junior developemtn but im not putting it on paper. Nuff said.



To me IMO, there is nothing wrong with his offer, apart from no pen/paper agreement on local/junior development. Yes junior dev is part of newcastle and its tradition, but time change, sometimes it is better to look elsewhere to ensure a strong sucessful team/club. We havent kept many locals that we could have anyways. Yes we nurtured and developed juniors but thats it, we get em and let go of them. However Im not saying scrap junior dev and overlook it as not of importance.

Would we want to buy back the knights??? What consortium would come forth to purchase the knights after tinkler? I think if he puts $xx in he should get $xx back. Because who ever (if ever) wants to buy back, they will have inherited what he produced. I compare it loosely to buying a house to renovate and then sell. You put that money into it, you expect the price to go up and recoup what you've laid out.

Ive said it earlier. He would ensure we never go below 10 mil per year. If we make under that one year, he props it up and we are never below. We wouldnt have to go into debt to cover losses.

Tinkler also rids our debt, and thats means no more debt to be gotten into.

Having tinkler on board also means we have alot more buying power in the NRL. He can source other third party deals that fall outside cap to get top notch players in our colours, ensure those local players that are worthy stay in our colours, and keep current stars from moving on, he could pay a high priced coach among other things that money can buy.

--

Patrons trust.

I think it is for 6 years, and im assuming its funding from outside sources (duh), not sure if it is on top of our income or if it is like nathans and ensures we dont dip below an amount.

 

[Sammyyy]

Burraston: 'Alleged offers for Snowden, Idris & Bennett shows a lack of respect for the club & put doubts in their mind about the deal'

Lack of respect?! All this guy wants is Sucess that the club

 

[carbonclay]

I see a lot of people saying "you've been blinded by the billionaire" . I don't see how you can come to this conclusion as the only people we have heard from are the Newcastle Knights board . This is the same board that will lose their jobs if Tinkler Group take over , Why has this deal been taken away from the members , The truth is the Knights board know they are on borrowed time .
The club's future is being decided by a few board members and not the true club representatives the fans and members . The members have had their rights and privileges taken away from them in an attempt by the board to save their jobs.
I'm not saying that the Tinkler Group offer is the answer I don't have all the true details of the offer and I cannot see how some people are saying that we told you so when there is no way anyone here can know both sides of the story .
I personally think this is a bit suspect , I think that the board is not letting this go to the members because they know the members will vote in favor of it . And no one wants to lose their cushy job at the greatest League team in the world

 

[Greek Knight]

I see a lot of people saying "you've been blinded by the billionaire" . I don't see how you can come to this conclusion as the only people we have heard from are the Newcastle Knights board . This is the same board that will lose their jobs if Tinkler Group take over , Why has this deal been taken away from the members , The truth is the Knights board know they are on borrowed time .
The club's future is being decided by a few board members and not the true club representatives the fans and members . The members have had their rights and privileges taken away from them in an attempt by the board to save their jobs.
I'm not saying that the Tinkler Group offer is the answer I don't have all the true details of the offer and I cannot see how some people are saying that we told you so when there is no way anyone here can know both sides of the story .
I personally think this is a bit suspect , I think that the board is not letting this go to the members because they know the members will vote in favor of it . And no one wants to lose their cushy job at the greatest League team in the world

Someone who cancels a press conference and withdraws an offer, has, in my opinion, another agenda that is not in the best interests of the club and it's members.

Buying a football club is not something that can be done overnight. The board should be commended for their resilience and not caving in to bullying tactics.

You may want to find out both side of the story, as you put it, before you make on informed decision as to which is the best path to go down.

Unfortunately, a few members on this forum don't have one iota of common sense to be objective.

Our football is for the members by the members and we don't want some rich fat cat coming in guns blazing, promising the world and delivering diddly squat.

 

[dutchie]

Your saying to get both sides of the story. Are you, yourself getting both sides of the story?

---------- Post added at 05:46 AM ---------- Previous post was at 05:45 AM ----------

Unfortunately, a few members on this forum don't have one iota of common sense to be objective.

Our football is for the members by the members and we don't want some rich fat cat coming in guns blazing, promising the world and delivering diddly squat.

Check back on page 9, tell me if that is diddly squat.

 

[Sammyyy]

You only have to read the facebook comments to know how many fans are furious at this whole situation with the board.

 

[knights4premiers]

I can't be bothered to read 7 pages of the posts which would be filled with angst, as is this one. I was so thrilled that Tinkler was going to take over the club. Because honestly... The board we have now is freaking useless and i would rather take a gamble on Tinkler.

But i guess it was a case of its too good to be true.