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Nathan Tinkler relinquishes ownership of the Newcastle Knights

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georgesnmith

Juniors
Messages
1,781
oikee said:
Another NsW club in crisis, along with Panthers then Parra then the Tigers as well as the Dragons losing cash hand over fist and now the Knights have lost tinky tinklers.

You have Manly begging for government handouts, Shane Matske now shown the door and with his strategy not having the slightest impact in NSW, why would you hang onto him. Been at NRL headquarters now for 12 years and the game has not grown outside or inside Sydney.

Now the Knights great white hope about to go under, 1 billion gone, Gee whiz, we can see where the NRL is going wrong, all these wrong bets have stripped the game of any dignity and the fans have been left out on the scrapheap.
Dont fret, Jimmy Dolye will come in and carve Sydney up like grandma's cherry pie.
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yeh newcastle should never been admitted into the NRL

:crazy:
 
BunniesMan

BunniesMan

Immortal
Messages
33,713
Some Knights fans with their heads in the sand. Some Knights fans know the writing is on the wall and smartly understand the club is better without him.

One factor I am curious about is Bennett is not contracted to the Knights. If the Tinkler empire goes bankrupt can a Tinkler-less Knights afford the 1.5 mil a year he is getting...
 
A

Alex28

Coach
Messages
12,009
He's not on $1.5M. If he wins a premiership he is on that. At this point he's miles away from getting his maximum contract including bonuses...
 
S

Sydney Knight

Bench
Messages
3,000
BunniesMan said:
Some Knights fans with their heads in the sand. Some Knights fans know the writing is on the wall and smartly understand the club is better without him.

One factor I am curious about is Bennett is not contracted to the Knights. If the Tinkler empire goes bankrupt can a Tinkler-less Knights afford the 1.5 mil a year he is getting...
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You are an idiot. If he is contracted to HSG then the knights don't have to pay him. Who else is he going to coach the Jets?
 
eozsmiles

eozsmiles

Bench
Messages
3,392
oikee said:
Another NsW club in crisis, along with Panthers then Parra then the Tigers as well as the Dragons losing cash hand over fist and now the Knights have lost tinky tinklers.

You have Manly begging for government handouts, Shane Matske now shown the door and with his strategy not having the slightest impact in NSW, why would you hang onto him. Been at NRL headquarters now for 12 years and the game has not grown outside or inside Sydney.

Now the Knights great white hope about to go under, 1 billion gone, Gee whiz, we can see where the NRL is going wrong, all these wrong bets have stripped the game of any dignity and the fans have been left out on the scrapheap.
Dont fret, Jimmy Dolye will come in and carve Sydney up like grandma's cherry pie.
Click to expand...

No, they are actually asking for the govt to provide funds to develop the the publicly owned ground they play on. The same way just about every other ground in the country was built.
 
eozsmiles

eozsmiles

Bench
Messages
3,392
Sydney Knight said:
You are an idiot. If he is contracted to HSG then the knights don't have to pay him. Who else is he going to coach the Jets?
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If HSG don't own the Knights and Wayne works for HSG, I imagine he will have some quality time with the family for the next few months. If the Knights want him to continue in the role, they will have to do a deal and then pay him.
 
G

georgesnmith

Juniors
Messages
1,781
westpac apparently put two of his other companies into liquidation over two property investments

the bank guarantee is the westpac so im doubting theyll be renewing it based on the fact that hes defaulted on other loans

can he get another bank to replace it???

if you have a bad credit rating that would be basically impossible id have thought

soon find out
 
Perth Red

Perth Red

Post Whore
Messages
69,865
eozsmiles said:
Not heaps, which has been part of the problem in the past. But when Tinkler took over there was a change in how they got there money - some sponsors left and others were cut. But there will certainly be a number of groups willing to come on board when/if Nathan leaves. The Knights are very popular in Newcastle, but their boss isn't.

The White Knights are still around.
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Watching tonight's game the Knights seem to have better corporate sponsors than storm which is surprising give the supposed value of the Melbourne jersey.
 
perverse

perverse

Referee
Messages
26,697
I don't think Wayne will leave the Knights until his contract is up, Tinkler or no Tinkler. Nothing to base that on except my gut.
 
Swarzey

Swarzey

Bench
Messages
4,165
Eh, part of me wishes he stumbles and doesn't show. So sick of this drama following the club and being blown up to look worse than it actually is.
 
G

georgesnmith

Juniors
Messages
1,781
http://www.brisbanetimes.com.au/rug...ne-with-knights-guarantee-20140325-zqmut.html

"Knights members club chairman Nick Dan says Hunter Sports Group has missed a deadline to have in place a $10.3 million bank guarantee to ensure Nathan Tinkler retains ownership of the NRL club.

HSG was supposed to have secured the surety by 5pm on Tuesday.

Dan and his fellow members club directors will now visit Westpac on Wednesday to access the bank guarantee and have it placed in a joint-signatory account.

If HSG is then unable to replace the interim bank guarantee before its expiry date on Monday, the members club will launch the process of reclaiming the club.

Under the terms and condition’s of Tinkler’s 2011 takeover, if the self-made tycoon was found at any point to have reneged on the terms and conditions, the members become entitled to buy the club back for $1.

A key component of the privatisation deal was the bank guarantee ‘‘safety net’’, initially valued at $20 million for two years then $10 million, plus Consumer Price Index inflation, for the next eight years.

A bank guarantee worth $10.3 million expired on January 31 this year.

It was supposed to have been replaced for one worth $10.52 million for the next 12 months.

Instead HSG negotiated a two-month interim extension, assuring the members club that this would save $500,000 in bank fees.

HSG promised to have a new bank guarantee, valid until January 31, 2015, in place by March 31.The extra $220,000 for CPI was secured through another lender.

HSG chief executive Troy Palmer did not reply to messages yesterday but on Monday he said ‘‘the bank guarantee will be sorted this week, not a problem.’’


Read more: http://www.smh.com.au/rugby-league/...s-guarantee-20140325-zqmut.html#ixzz2wxmcy3co
 
E

ek999

First Grade
Messages
6,977
Wests Leagues don't have cash. It's all tied up in PPE, they wouldn't be able to support an NRL team IMO
 
Perth Red

Perth Red

Post Whore
Messages
69,865
Cumberland Throw said:
The wests group was originally set up with a constitution to foster Rugby League in the newcastle region.

What better way to actually do this, than take over the ownership of the Newcastle Knights.

They have $150 Million in the bank, more than the AFL and NRL put together,,,


http://www.westsnewcastle.com.au/si...tent/collated_2013_financial_statements_0.pdf

More members than Collingwood and Souths combined.

It has to happen
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How much of that $100mill revenue goes into RL?
 
Ulysseus

Ulysseus

Bench
Messages
3,610
If the fat f**k can renew the guarantee with such apparent ease then why the f**k does it have to be at the 11th hour?
 
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