Nathan Tinkler relinquishes ownership of the Newcastle Knights

[kmav23]

Or don't walk away and keep looking stupid...

He hasn't paid his bills because he is either short of cash, or it is cheaper to use his creditors as a source of finance. None of us really know which it is (no matter what we read on the Internet).

If his short on cash then he has no business owning the knights...as they are not a money making business,,,,

its a toy for him that he can not afford... like his own planes etc...

Tinkler should leave the knight save some money and pay the tradies and everyone his ripped off...

 

[Spot On]

Oh Loudtwat

You still haven't answered the original question I asked.

Now your caught up with something that no-one ever suggested. I simply asked if you prepay your bills or wait till a final notice. Nothing else.

It would be interesting to know your financial situation. Your income, number of dependents, loans, bills etc. You seem to portray a man that earns a very good crust and pays all your bills as soon as they arrive. Good for you.

Phone and electricity companies have had to change the way they deal with their customers these days. The massive rise in bills has meant that many Australian families now need a payment plan to help them pay off their bills as they don't have enough money (or cashflow) to pay them as they arrive.

I hope that info doesn't come as a shock to a high flyer like you.

As I have mentioned before to other forum users, your ongoing concern for the tax bill Tinkler is yet to pay is admirable. If your concern for his situation is genuine, you could do something to help like donate a little of your huge pay packet to the cause. Otherwise, why do you care so much????

 

[Spot On]

You are Tinkler arent you.

The fact that the Knights might be wound up in 6 weeks doesnt worry you?

.

Do you believe that the Newcastle Knights will cease to exist in six weeks time?

 

[kmav23]

No one asked if you waited for court proceedings in regards to your payment of bills.

You seem very upset that Tinkler has found himself being chased by the ATO for tax owed. Why does this issue upset you so much? You obviously feel very strongly about it. Maybe you should do something to help - put your hand in your deep pockets and help the big fella out if you feel so strongly about it.

I see someone who had $15m private jet and a corporate helicopter but refused to pay tradies, wages and their super as low form of human....

what club wants an owner like this ?

 

[Spot On]

I see someone who had $15m private jet and a corporate helicopter but refused to pay tradies, wages and their super as low form of human....

what club wants an owner like this ?

All good points.

 

[kmav23]

Read this article... Tinkler is in MASSIVE TROUBLE!!!!

Share price has to rise more then 20% to at least break even,,,,

His got interest payments plus massive capital gains bill....

Everyone knows his desperate ...and could be forced to sell... holding back and large share price increases.

http://www.finnewsnetwork.com.au/archives/finance_news_network22529.html



Nathan Tinkler's 19.4 per cent stake in Whitehaven Coal Limited (ASX:WHC) is again at the centre of speculation with reports claiming the highly leveraged mining magnate could be left with a loss on any potential sale after paying a significant capital gains tax bill.

Fairfax Media says the former billionaire owes up to $700 million to a variety of lenders against his stake in the coal producing company.

CIMB analyst James Stewart has told Fairfax Media Whitehaven's stock would need to increase more than 20 per cent for Mr Tinkler to break-even on any sale.

The report says Mr Tinkler has now had his corporate jet and helicopter repossessed and has sold his prized racehorse All Too Hard to Gerry Harvey.

Whitehaven Coal posted a net profit of $62.5 million in the 2012 financial year.

 

[Spot On]

Yes, it's been very well documented for many, many months now.

 

[kmav23]

Yes, it's been very well documented for many, many months now.

how some people still think its just cash flow problem is beyond me...

his already finished... the data is right in front of everyone,....

 

[Alex28]

So what you want is for him to give up the Knights, the Knights to give up the Bank Guarantee and the performance safeguards that the Bank Guarantee provides, he walks away with his $20 Million that secures the Guarantee and the Knights are left to fend for themselves with less sponsorship and membership income than before the takeover happened?

You whinge about how broke he is and how dodgy he is, but can you argue that the Knights will be financially more secure without him and that Bank Guarantee? Hardly.

And that is why everyone thinks you are a moron. You are too busy with your finance career and your insider mates (Google doesn't count as a mate) to actually think about the reality of what your opinion would mean to the Knights. Yes he probably has no business owning a football club right now (he certainly did when he took it over though), however right now the Knights are much better off with him owning it than not.

 

[Alex28]

Read this article... Tinkler is in MASSIVE TROUBLE!!!!

Share price has to rise more then 20% to at least break even,,,,

His got interest payments plus massive capital gains bill....

Everyone knows his desperate ...and could be forced to sell... holding back and large share price increases.

http://www.finnewsnetwork.com.au/archives/finance_news_network22529.html



Nathan Tinkler's 19.4 per cent stake in Whitehaven Coal Limited (ASX:WHC) is again at the centre of speculation with reports claiming the highly leveraged mining magnate could be left with a loss on any potential sale after paying a significant capital gains tax bill.

Fairfax Media says the former billionaire owes up to $700 million to a variety of lenders against his stake in the coal producing company.

CIMB analyst James Stewart has told Fairfax Media Whitehaven's stock would need to increase more than 20 per cent for Mr Tinkler to break-even on any sale.

The report says Mr Tinkler has now had his corporate jet and helicopter repossessed and has sold his prized racehorse All Too Hard to Gerry Harvey.

Whitehaven Coal posted a net profit of $62.5 million in the 2012 financial year.

You know - and of course you would being in the finance industry and reading the Fin Review and being up to date with all things financial - that you can subscribe to the AFR website for free through to the end of January and actually read the full article that your awesome source blatantly plagiarised parts of to produce your awesomely 2 days old scoop?

 

[Alex28]

And - being the financial guru that you are - you would of course realise all that means he has absolutely no chance of actually selling the shares whilst he is in the position of exiting with a loss? Good news for us though - you continue to fill us with your awesome Google search findings!

 

[Miller was a legend]

I want the knights to be rid of this bloke, be financially viable and get on with playing footy in the NRL.

I don't care what happens to tinkler. Can go bust and back to being a sparky for all I care.

 

[kmav23]

Knights better make sure they get the 20 million as thats all they going to get..from now....

knights have gone from the wealthiest clubs..(billionaire). to the poorest in about 1 year. ( 700 million debt)

 

[kmav23]

I want the knights to be rid of this bloke, be financially viable and get on with playing footy in the NRL.

I don't care what happens to tinkler. Can go bust and back to being a sparky for all I care.

he wont be back in newcastle... as the tradies he didnt pay will be after him...

Singapore... is his escape...

 

[Alex28]

Knights better make sure they get the 20 million as thats all they going to get..from now....

knights have gone from the wealthiest clubs..(billionaire). to the poorest in about 1 year. ( 700 million debt)

Answer my question and stop avoiding it - are the Knights better off right now with him owning it or not? And if you answer not, explain to us how the Knights are better off without him and the safeguards that guarantee income to the club.

Enough talking the talk, walk it champ.

 

[Miller was a legend]

Knights better make sure they get the 20 million as thats all they going to get..from now....

knights have gone from the wealthiest clubs..(billionaire). to the poorest in about 1 year. ( 700 million debt)

I recall a separate consortium of some type was ready and willing to invest in the knights whilst ensuring they stayed a member owned club, when the tinkler deal was put forward.

Don't underestimate the novocastrians. They will come out in droves to save their club no matter what happens with tinkler.

Knights will be fine.

 

[Alex28]

Millers - that was funds in trust and no guarantees of its release and no commitment to continue to fund it despite retaining a flawed business model which never made money for the 23 years that it operated. It was not the answer whether Tinkler came along or not.

 

[Miller was a legend]

Millers - that was funds in trust and no guarantees of its release and no commitment to continue to fund it despite retaining a flawed business model which never made money for the 23 years that it operated. It was not the answer whether Tinkler came along or not.

Fair enough, wasn't sure how that was suppose to work.

However, assuming Tinkler isn't totally screwed, he doesn't look to be likely to end up in a financial position to continue the level of support he agreed to.

I do hope you blokes are able to see the back of the bloke and get your hands on that guarantee money. The constant bad press about this guy is not good for the knights or the NRL.

Like I said, I want you guys to come out of this in good shape. Newcastle is a must for the comp.

 

[Alex28]

You won't find too many Knights fans who don't want that scenario - cash in the guarantee, be rid of Tinkler and get on with things whilst having more cash in the Bank than we have ever had.

That can only happen if Tinkler goes broke, and happens before the end of January. That really isn't going to happen no matter how many Google searches Kmav does.

Speaking of which, has Captain Finance come up with an answer to my question?

 

[Loudstrat]

All most people have been saying is 2 things:

1 tinkers main.entities will not go under

Most people? More like most of Tinkler's f*cking rent-a-crowd. If Tinkler is financially secure then I'm Mona's labrador.

2 the knights will not go under

Yes but only because they will be saved by the Members board or the ARLC

Nobody is a fan of his bill paying or business ethics.

Alex and Spot On have hard ons over them

If I am proven wrong about either of the above 2 points I am happy to be mocked constantly by you clowns for the next 10 years.

Why do we have to wait until then????????

Oh Loudtwat

You still haven't answered the original question I asked.

Now your caught up with something that no-one ever suggested. I simply asked if you prepay your bills or wait till a final notice. Nothing else.

Yes I did you f*cking cumquat!!!!!!!!

It would be interesting to know your financial situation. Your income, number of dependents, loans, bills etc. You seem to portray a man that earns a very good crust and pays all your bills as soon as they arrive. Good for you.

I earn enough to live within my modest means. Im yet to have the ATO threaten to remove my spleen though.

Phone and electricity companies have had to change the way they deal with their customers these days. The massive rise in bills has meant that many Australian families now need a payment plan to help them pay off their bills as they don't have enough money (or cashflow) to pay them as they arrive.

Oh pu-leese - are you suggesting that Tinkler now is just a typical Aussie family man with the same financial situation? Yes, there are 22 million of us with a f*cking lear jet in the driveway and we all own an NRL team each.........

As I have mentioned before to other forum users, your ongoing concern for the tax bill Tinkler is yet to pay is admirable. If your concern for his situation is genuine, you could do something to help like donate a little of your huge pay packet to the cause. Otherwise, why do you care so much????

I'd hate to see the Knights go under, unlike you. But if you want to start a charity for fat brainless ex-billionairs - go for it champ.

Do you believe that the Newcastle Knights will cease to exist in six weeks time?

Again, I have already answered that. You read forum threads about as good as Nafan reads his tax bills :lol: