Knights knock back $10m Tinkler offer

[Alex28]

I was under the impression the $10mil would be spend on improving facilites for the players, like health, equipment etc. that sort of thing.

So...he wants to spend the $10 Million on improving the assets of the club that he is buying with that same $10 Million. So in reality he's committing $10 Million to the club in exchange for taking ownership of it. He wants the club for free in all reality.

If the $10 Million was held in trust by the existing Newcastle Knights Football Club and Tinkler spent his own money on improving assets and the club in general that would be a better scenario. That way if the members had to buy the club back we have $10 Million in the bank to do it.

 

[shane87]

So...he wants to spend the $10 Million on improving the assets of the club that he is buying with that same $10 Million. So in reality he's committing $10 Million to the club in exchange for taking ownership of it. He wants the club for free in all reality.

If the $10 Million was held in trust by the existing Newcastle Knights Football Club and Tinkler spent his own money on improving assets and the club in general that would be a better scenario. That way if the members had to buy the club back we have $10 Million in the bank to do it.

Yeh, I get that point..thing is the members owning the club really hasn't worked has it, not like it should anyway.

I mean, the dude wants to buy the club, he doesn't want to spend $10mil just to 'borrow' it.

 

[Alex28]

Coal & Allied pay us nearly $1 Million a year to 'sponsor' it. We want to hand the whole thing over to Tinkler for the same money?

Tell me...if Tinkler wants to sell it back to the members of the club if he gets sick of it, how do the members buy it back off him?

 

[Johns Magic]

I'm not gonna pretend to know everything about the financial side of the club, but there are arguments for and against Tinkler taking over in my mind.

I have nothing but love for the current board members who give their all for the club, but at the end of the day, nothing could match the money and starpower Tinkler has. How good would it be to finally attract some big-name players, like Souths have been able to do in recent years since Crowe took over? Tinkler seems like the sort of guy that people would admire and want to play for.

Nothing I have heard about Tinkler thus far has suggested anything but that he's a good bloke with good intentions, and really loves the club. If he does takeover, I doubt he'd leave the club high-and-dry if money became an issue down the track. Furthermore, I suspect he would invest a lot more money on top of that $10million a year. Just look at Crowe...any time an opportunity comes along that he wants, he lays down his own bucks to get it.

On the other hand, the Knights have always been a financially struggling club, and that has been part of the beauty of all the successes the club has had on the field.

I would like to see Tinkler takeover, but I would like to see it done the right way.

 

[B-dos]

he is investing in the club to ensure its private ownership is held by a man who is part of the community and not a conglomerate of faceless businessmen (which is the other evil idea that has everyone here running for the hills)

10 million for our club which loses money every year is a pretty bloody good deal to me

this is typical of the knights club and its board

should tinkler walk away from this im sure none of us would be surprised

 

[B-dos]

So...he wants to spend the $10 Million on improving the assets of the club that he is buying with that same $10 Million. So in reality he's committing $10 Million to the club in exchange for taking ownership of it. He wants the club for free in all reality.

um.. what???

he is tipping 10 mil into the club

thats capital to be spent

there is no one to 'pay' for the club. its not owned by anyone?

or are you suggesting the 10mil be divvied up among the 'members' ?

[If the $10 Million was held in trust by the existing Newcastle Knights Football Club and Tinkler spent his own money on improving assets and the club in general that would be a better scenario. .

he is buying the club for goodness sake

That way if the members had to buy the club back we have $10 Million in the bank to do it

.

hahahaha.. what??? for someone who is reasonably cluey alex, this is perhaps the most ridiculous thing ive ever heard in my life..

 

[B-dos]

The $10mil would be retained within HIS company - not OUR club.

OUR club would probably have to be wound up.

It is "investing" money in an appreciating asset that he owns.

thats the idea of privatisation mac

seems OUR club wants to have its cake and eat it too

a sugar daddy scenario

lets get real here

 

[Serc]

I think I see what Mac was on about last night in his post...

Tinkler and Edwards and co are a smart mob, and while I don't doubt that Tinkler is a nice bloke and wants to help...he didn't get where he is today by being a charity, and if he can buy the club/invest in the club/whatever on better terms for himself then he is going to try that. In this case everyone is so excited in the last month about the Jets that it has proven very easy to make the club look like a bunch of idiots now that he has gone public with his latest proposal. (I'm quite sure the club and Tinkler have been talking and making different proposals on and off for the past 12 months)

So if a little bit of public pressure gets him a better deal, then why not give it a crack in case it works?

For the time being I am comfortable with the fact that Burro and the board have said that they have been genuinely looking at these privatisation options, and if the right one comes up with the appropriate amount of community ownership etc etc then they will go for it. Its been said enough times in the past year or two so if they were trying to hold onto their jobs they would've not talked about it in the papers semi-regularly and relying on the percentage of members who are against any sort of privatisation to keep them going.

 

[B-dos]

For the time being I am comfortable with the fact that Burro and the board have said that they have been genuinely looking at these privatisation options,

given burraston refuses to run our club according to the rules due to his ridiculous 'philosophical' interpretation of them , im not so willing to invest my confidence in his ability to do the best thning for the club....

 

[Alex28]

B-Dos - under the proposed agreement the members have the first right to buy the club back and have 90 days to do so.

You tell me how this happens if the money paid for the club has been spent by Tinkler.

Also, Tinkler is only guaranteeing for 10 years. If he hands the club back, with what working capital does the club run?

 

[Serc]

this is typical of the knights club and its board

should tinkler walk away from this im sure none of us would be surprised

I hardly think this is going to happen...do you know that both sides have been talking about this on and off for quite a while, don't you? Like I said in my post Tinkler isn't stupid and if he can get a better deal for himself with a bit of public pressure (now is the perfect time re: Jets) then he is foolish not to try it.

given burraston refuses to run our club according to the rules due to his ridiculous 'philosophical' interpretation of them , im not so willing to invest my confidence in his ability to do the best thning for the club....

Yeah I didn't like that quote in the paper yesterday either...but having said that, it didn't result in a great result for the Dragons this year (lost a bunch of players - and we have benefited from one of their best!), and potentially in another year or so's time when Gasnier's heavily backended contract comes and bites them back again.

 

[Johns Magic]

They won the premiership serc...I'd call that a great result.

 

[Serc]

They won the premiership serc...I'd call that a great result.

Yes thanks smarty pants (and while we're on that were also fortunate enough to get a reasonably easy path to do it while in a fairly mediocre patch of form)

But I am just talking about stability of the roster, and losing more players than you should otherwise have when all of a sudden, 2 or 3 backended contracts start pushing the lid on the cap...unless you want to do a Storm of course...

 

[B-dos]

B-Dos - under the proposed agreement the members have the first right to buy the club back and have 90 days to do so.

You tell me how this happens if the money paid for the club has been spent by Tinkler.

people putting their hand in their pockets?

what youre suggesting is that tinkler pay for the privilege of running the club and all the associated costs and then and giving 'member's 10 million in 'free' money to buy him out should he decide to sell out

this isnt fantasy land were living in

Also, Tinkler is only guaranteeing for 10 years. If he hands the club back, with what working capital does the club run?

hopefully he leaves it in a better state than it is now

otherwise i guess it would be in the same position as today - running on the smell of an oily rag

 

[macavity]

he is investing in the club to ensure its private ownership is held by a man who is part of the community and not a conglomerate of faceless businessmen (which is the other evil idea that has everyone here running for the hills)

10 million for our club which loses money every year is a pretty bloody good deal to me

this is typical of the knights club and its board

should tinkler walk away from this im sure none of us would be surprised

Don't let the facts get in the way of a good story mate.

Even servicing a large retained debt, we run at a surplus more often than not.

This is indeed typical of the Knights board - looking out for the interests of the people who elected them, the members.

I would be very disappointed if Tinkler walked away, and would question his ostensibly pure motives if he did.

If he wants to "give the club back to the community", why do the members have to be disenfranchised for him to do so?

There is a third way where the club gets the cash and expertise he can bring to the table, yet remains a community asset.

I hope we are all adult enough to work out how to get there - these sort of stunts in the media aren't helpful.

 

[B-dos]

I hardly think this is going to happen...do you know that both sides have been talking about this on and off for quite a while, don't you? Like I said in my post Tinkler isn't stupid and if he can get a better deal for himself with a bit of public pressure (now is the perfect time re: Jets) then he is foolish not to try it.[

well my fingers are certainly crossed

Yeah I didn't like that quote in the paper yesterday either...but having said that, it didn't result in a great result for the Dragons this year (lost a bunch of players - and we have benefited from one of their best!), and potentially in another year or so's time when Gasnier's heavily backended contract comes and bites them back again.

the players the dragons chose is irrelevant though

that we are unable to play on a level playing field due to his ridiculous 'beliefs' is a disgrace

 

[B-dos]

Don't let the facts get in the way of a good story mate.

Even servicing a large retained debt, we run at a surplus more often than not.

This is indeed typical of the Knights board - looking out for the interests of the people who elected them, the members.

I would be very disappointed if Tinkler walked away, and would question his ostensibly pure motives if he did.

lol

play our game and keep bending over or we'll find out youre an evil phoney?

dear oh dear

If he wants to "give the club back to the community", why do the members have to be disenfranchised for him to do so?

so you do just want a sugar daddy?

id take his words to mean he is a community man., he has a history of investing in the region and is not the evil faceless business people everyone here fears

There is a third way where the club gets the cash and expertise he can bring to the table, yet remains a community asset.

I hope we are all adult enough to work out how to get there - these sort of stunts in the media aren't helpful.

feel free to tell us all your plan mac?

 

[Alex28]

people putting their hand in their pockets?

what youre suggesting is that tinkler pay for the privilege of running the club and all the associated costs and then and giving 'member's 10 million in 'free' money to buy him out should he decide to sell out

this isnt fantasy land were living in

This isn't "free money". An entity owns the Newcastle Knights right now. Another entity wants to buy the Newcastle Knights. That entity is entitled to money in exchange for the rights to playin the NRL. That entity will also have the first option to buy that right back.

What you want is for the current owners to hand over the rights to play in the NRL for nothing in exchange for funding the club for $10 Million over 10 years, and the current owners to have no source of buying the club back if the new owners ever wish to sell.

None of that seems fair to me at all.

 

[B-dos]

This isn't "free money". An entity owns the Newcastle Knights right now. Another entity wants to buy the Newcastle Knights. That entity is entitled to money in exchange for the rights to playin the NRL. That entity will also have the first option to buy that right back.

so you mean the members 'own' the club

so we should divvy up the purchase price?

is it only current members who get a share?

What you want is for the current owners to hand over the rights to play in the NRL for nothing in exchange for funding the club for $10 Million over 10 years, and the current owners to have no source of buying the club back if the new owners ever wish to sell.

None of that seems fair to me at all.

the idea isnt to buy a club then give your prospective successors the money to buy it back off you alex. youre just asking for a handout

Tew himself states this isnt the sticking point. its a failure to guarantee certain levels of revenue. given the offer include an undertaking to provide all the working capital required and to invest any profits into the local juniors and the club, it seems odd that this would be an issue. the survival of the club is what we all want and what tinkler wants. he certainly doesnt want to see a major cut to revenue

all i want is for common sense to prevail. this stranger notion that tinkler funds everything and its all one big handout is quite bizarre to me

 

[Alex28]

There are many questions about his offer that remain unanswered. No guarantees beyond saying he'll spend over 10 years the equivalent of what a major sponsor will pay us over that period in any case is not a desirable offer. It is giving him the club for free with no real guarantees around doing the right thing by our club, or any firm future for the club if he decides he wants out, or after the 10 year period that he is stipulating.

B-Dos - you appear to want to hand it to him on a platter without any of the above resolved.