Nathan Tinkler relinquishes ownership of the Newcastle Knights

[magpie4ever]

the tradies who tinkler ripped off will take over the knights...

Canberra Tradies Club, interesting thought - maybe a merger.:lol:

 

[Matchball]

http://mobile.abc.net.au/news/2013-07-29/nathan-tinkler-admired-by-some-disliked-by-many/4846818

That story should get Kmav stiff.

 

[Apey]

Surely kmav = Coastbloke, posts so much like him. I think Coastbloke was for the Tinkler takeover though, not that that really makes any difference seeing as both kmav and coastbloke are mental and wouldn't surprise me if he has a split personality thing going on.

 

[kmav23]

Tinkler at press conference

 

[kmav23]

 

[Newcastlerabbit]

To owe one individual coin is bad enough,but to owe a reported 50 individuals/companies coin is a grub act.To the lengths this dude has gone to not to pay these people is mind boggling.

 

[Big Tim]

Does someone wish to explain how Tinkler's $20 million bank guarantee work for the Knights?

If he goes belly up (pun intended) and is forced into bankrupty; I take it the guarantee ($20 mill) becomes the Knights to cover future operating costs. Yes/No

Here is a brief run down. I dont claim that the numbers on some things are accurate.

20m into a bank guarantee - cash can not be withdrawn
4m debts paid out
10m sponsorship per year guarantee - any difference in cash will be paid by HSG eg 7m sponsorship money, 3m paid by HSG
1.5m to local league - not sure on this figure

These transactions a checked annually, and if they are not met he loses control of the club, the club is sold to the member for $1, the bank guarantee pays out to the Knights RLFC.

The bank Guarantee was reduced to 10m as per the agreement.

Not 100% right but pretty close.

 

[magpie4ever]

Here is a brief run down. I dont claim that the numbers on some things are accurate.

20m into a bank guarantee - cash can not be withdrawn
4m debts paid out
10m sponsorship per year guarantee - any difference in cash will be paid by HSG eg 7m sponsorship money, 3m paid by HSG
1.5m to local league - not sure on this figure

These transactions a checked annually, and if they are not met he loses control of the club, the club is sold to the member for $1, the bank guarantee pays out to the Knights RLFC.

The bank Guarantee was reduced to 10m as per the agreement.

Not 100% right but pretty close.

Thanks mate, so if Tinkler goes belly up, at least the Knights have their mid-term future guaranteed.

 

[Big Tim]

Exactly, and in all honesty that could be the best situation.

Assuming that the members can select a competent CEO, and the club can work within its means we would no longer be connected to Tinkler, we would have no debt (unless somehow Tinkler comes up more than 10m short of his obligations), and the club will have many "silent partners" to draw cash from.

 

[macavity]

Being in the middle of a kitchen renovation, I almost don't blame him for not paying tradies. f**king useless arrogant shitheads the lot of them, and never wrong, even when they are so very wrong.

 

[Spot On]

Poor 'ol tradies. Hard at it again!


Edit - Is this a selfy of you and your mates KaveMan?

 

[kmav23]

the problem for tinkler is these small debts to tradies which he easily pay,,,brings him the worst publicity

worse then him owing hundreds of millions to some fund manager...

 

[Spot On]

the problem for tinkler is these small debts to tradies which he easily pay,,,brings him the worst publicity

worse then him owing hundreds of millions to some fund manager...

What did you mean here Kave Man? Do three commas in a row indicate something secretive tha forum users need to try and work out for themselves?

 

[Sydney Knight]

the problem for tinkler is these small debts to tradies which he easily pay,,,brings him the worst publicity

worse then him owing hundreds of millions to some fund manager...

Slow down and work on your sentence structure and punctuation

 

[betcats]

Won't somebody think of the Tradies!

 

[kmav23]

Slow down and work on your sentence structure and punctuation

You missed a full stop.

Is this how you do it ?

:lol:

 

[kmav23]

What did you mean here Kave Man? Do three commas in a row indicate something secretive tha forum users need to try and work out for themselves?

tha is spelt wrongly....

Nothing more funny then someone playing spelling and grammar police and they themselves have errors.

LOL

:lol:

 

[Ronnie Dobbs]

Being in the middle of a kitchen renovation, I almost don't blame him for not paying tradies. f**king useless arrogant shitheads the lot of them, and never wrong, even when they are so very wrong.

Dont you have any mates that are tradies? Thats the only way to get it done.

I ran a fleet of plumbing sub contractors for Origin Energy going back 10 years & I agree with your sentiments 100%.

Geez there used to be some blow ups out the back car park. Bottom feeding f**kers they are.

 

[Big Tim]

tha is spelt wrongly....

Nothing more funny then someone playing spelling and grammar police and they themselves have errors.

LOL

:lol:

*incorrectly

Grammar policing is fun. I wish I started this years ago.

 

[kmav23]

Dont you have any mates that are tradies? Thats the only way to get it done.

I ran a fleet of plumbing sub contractors for Origin Energy going back 10 years & I agree with your sentiments 100%.

Geez there used to be some blow ups out the back car park. Bottom feeding f**kers they are.

Lol tinkler was a tradie himself...

Which is why he knows how to rip off others.

When you rip off enough people it eventually comes back to bite you.