Nathan Tinkler withdraws Knights offer

[Allstar Knights]

Nathan Tinkler withdraws Knights offer
21 Feb, 2011 11:59 AM
SPORTING and mining magnate Nathan Tinkler has withdrawn his $100 million takeover bid for the Newcastle Knights and said he would have no further dealings with the NRL club under their current management.
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but a furious and frustrated Tinkler has told the Newcastle Herald that the meeting has been cancelled and his offer withdrawn.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.

http://www.theherald.com.au/news/lo...-tinkler-withdraws-knights-offer/2082126.aspx

What an impatient prick.

 

[DJShaksta]

So in the last few days he's made an absolute kharmichael of himself then pulled the plug??
What an a$$hole

 

[Alex28]

It seems like he's promised us the world, committed to nothing and when we've dared to question him he's walked away.

Is this who we want to own the club?

 

[God-King Dean]

Judging by the way he's carried on, I'd say this is for the best.

 

[Alex28]

http://www.nbntv.com.au/index.php/2011/02/21/nathan-tinkler-withdraws-his-offer-to-buy-the-knights/

NATHAN TINKLER WITHDRAWS HIS OFFER TO BUY THE KNIGHTS

February 21, 2011

Nathan Tinkler has withdrawn his offer to buy the Newcastle Knights.
The mining magnate sent an email to board members this morning informing them of his decision.
He also laid the blame for his decision squarely on the shoulders of club directors, stating that he believes an offer to guarantee the club $10 million a year and operate as a not for profit organisation will never be repeated.
He goes on to say that the community “deserves better than it has been getting and I hope you can apply as much energy to moving it forward to deliver better outcomes as you have to holding it back in this process. Tew and Burro rejoice, you keep YOUR club.”

He reads too many Newcastle Herald readers comments...

 

[Allstar Knights]

Can't even wait for a meeting ffs.

If he hates the knights management so much, sack them when you take over. Don't walk out because you didn't get what you want.

He's carried on like a complete tool.

 

[roopy]

So - what was this other offer someone tried to put together a few weeks ago?

Time to pull that out of the bottom draw and see how quick Tinkler comes back.

 

[Jobdog]

Dunno what to make of it all ...

On one hand, he's an impatient prick, but on the other it looks like we'll continue to be run like a chook raffle.

 

[Alex28]

We've survived 21 years being run like a chook raffle and won 2 premierships. As Roopy said, there is another option there. Time to investigate and we'll see how long it takes Tinky to come back and offer to negotiate in good faith.

 

[adamkungl]

It seems like he's promised us the world, committed to nothing and when we've dared to question him he's walked away.

Is this who we want to own the club?

Agree. It seemed like an obvious decision immediately but the longer it went on, the more it started to stink. What was Tinkler's big rush? Why was he unwilling to front for a simple meeting which, according to the media, was to discuss the slightly important points of junior support and the opportunity to buy back the club. Petulant, impatient rich man-child.

Good luck to the Knights, they have always been a community club and maybe it isn't such a bad thing that will remain such. Keep getting members, pushing up crowds, growing the club - they'll be fine.

 

[Rolla]

I guess without knowing what has gone on behind closed doors i can't comment as to whos fault it is or whether it is good or bad.

I hope this means that we can concentrate on the footy and the quality team we have this year.

 

[B-dos]

dear oh dear

our once in a lifetime offer, financial security, a chance to see our club thrive and prosper has been lost thanks to tew and burraston

what a f**king disgrace

the sooner these two are punted the better

fingers crossed the members band together and vote no confidence on these two men who have shown without doubt they are incapable of delivering for our club

 

[slotmachine]

Hooray for mediocrity!

 

[cram]

dear oh dear

our once in a lifetime offer, financial security, a chance to see our club thrive and prosper has been lost thanks to tew and burraston

what a f**king disgrace

the sooner these two are punted the better

fingers crossed the members band together and vote no confidence on these two men who have shown without doubt they are incapable of delivering for our club

there you go another reason why you should have stayed a member this would have been your chance to affect the change.

 

[Jobdog]

:lol: @ the bloke on ABC Radio saying the Knights won't be around in 2-3 years. They're not going anywhere ...

Oh and ABC will have the press conference from 2.30pm if anyone's interested :sarcasm:

 

[madunit]

Tinkler is a f**king dickhead.

 

[madunit]

gotta say though, there is alternative for Tinkler.

If he is so keen to
*Own a club in debt and financially rooted
*Have Kade Snowden in his team

He should just go and buy the Sharks.

 

[Billythekid]

Why is he in such a hurry? Kinda hard to trust him when he is acting like this.

 

[Nuffy]

Now I would have liked to see the deal proceed but I just can't believe that Tinkler is so impatient, you'd think he'd have his eye on the bigger prize.

I think that the board do have obligation to secure the best deal and nut through every detail, not just rely on good faith after the event, as directors they are legally bound to do this.

All the media about Snowden and Idris always seemed to be pressure points for Tinkler agenda, the more he tried to accelerate this deal, the more smelly it seemed.

That said, I don't think this is over by a long shot, but now Burro and Tew have painted the two biggest possible targets on themselves, they will need to ensure everything is perfect otherwise the media, fans and wider community will be after them at every turn,

 

[Chicken_Hunter]

Yay our hopes of ever winning another comp are gone. No one will want to come to this amateur club i guess we will just persist with our sub standard juniors forever. All u dinosaurs can be happy about this all u want but without tinkler we are nothing but minnows in the nrl. My patience supporting this rabble is wearing thin. What a mess.