Nathan Tinkler relinquishes ownership of the Newcastle Knights

[andrew057]

Looks like HSG has known for a year it was going to lose the Knights and were going to keep the Jets. It was going to cost them 10M to hand back the Knights. So most of the costs to HSG have been put through the Knights and not the Jets.
eg. Ground rental to HSG from Huner Venues is say $100,000 a game.
HSG charges $1 to Jets and $200,000 to the Knights.


So when HSG pays 10 Mill to the Knights HSG actually saves 10 Mill as that 20 Mill debt goes with the Knights effectively meaning HSG comes out even.

Source?

 

[georgesnmith]

Looks like HSG has known for a year it was going to lose the Knights and were going to keep the Jets. It was going to cost them 10M to hand back the Knights. So most of the costs to HSG have been put through the Knights and not the Jets.
eg. Ground rental to HSG from Huner Venues is say $100,000 a game.
HSG charges $1 to Jets and $200,000 to the Knights.


So when HSG pays 10 Mill to the Knights HSG actually saves 10 Mill as that 20 Mill debt goes with the Knights effectively meaning HSG comes out even.

wouldnt surprise me

so good he lost pretty much everything, karma for being such a lowlife re payment tradesmen etc

 

[morley101]

So would I b right in saying Timkler has used Rugby League to prop up soccer in Newcastle.
Sounds like he really loves the sport.
Hope he just f**ks right off.
The knights will be fine without him running up their food bills.
The knights desperately need honest management that love the great sport of rugby league so that rules out Gallop and Dave Smith types.

He doesn't love soccer...its just a better business decision... to leave the Knights the debt and not himself.

 

[axl rose]

wouldnt surprise me

so good he lost pretty much everything, karma for being such a lowlife re payment tradesmen etc

That would be nice but if they are smart enough they never really lose it all. Look at Alan Bond, back on the rich list.

As for the Knights management, with their debts now clear they can get about running the club into the ground again.

 

[Joker's Wild]

Looks like HSG has known for a year it was going to lose the Knights and were going to keep the Jets. It was going to cost them 10M to hand back the Knights. So most of the costs to HSG have been put through the Knights and not the Jets.
eg. Ground rental to HSG from Huner Venues is say $100,000 a game.
HSG charges $1 to Jets and $200,000 to the Knights.


So when HSG pays 10 Mill to the Knights HSG actually saves 10 Mill as that 20 Mill debt goes with the Knights effectively meaning HSG comes out even.

If this were true it would certainly show up in an audit and be questioned by the NRL. No way would they stand by and let an NRL club take a financial hit to preserve an A-League franchise

 

[georgesnmith]

If this were true it would certainly show up in an audit and be questioned by the NRL. No way would they stand by and let an NRL club take a financial hit to preserve an A-League franchise

well the audit has been done and there are rumours of a debt

they were both his clubs he can charge expenses as he sees fit

unless a club traded whilst being insolvent that would a be very different scenario

 

[Wato]

If that is true then Tinkler has destroyed the jets brand in newcastle, personally I have a passing interest in the jets but if this is true I will be not care about the jets at all may as well chase them out of town. Would the knights have legal avenues to pursue the jets if the rent agreement on the stadium has not been shared per the original agreement prior to Tinkler.

 

[meercat]

Tinkler has zero interest in soccer, he originally stepped in to save the Jets for the community itself, not for his own interest, I recall an article saying he was trying to sell the Jets to raise some money to keep his stake in the Knights...

 

[eozsmiles]

If this were true it would certainly show up in an audit and be questioned by the NRL. No way would they stand by and let an NRL club take a financial hit to preserve an A-League franchise

They can't shut the gate after the horse has bolted. If he has run up a footy club debt to save the soccer club, the NRL has already stood by and let it happen.

 

[eozsmiles]

It's a sneaky idea.

Tinkler lends the Knights money that they don't immediately pay back, and if he loses the club, he calls the debt. And it gets paid out of the $10.3-$10.52 million guarantee.

I wonder if the audit shows that the knights owe a Tinkler controlled company/companies $10 million?

 

[Card Shark]

Hasn't quite turned out the way knights supporters were expecting..... On or off the park !

Hope they can get their house in order post Tinkler.

 

[Noname36]

Tinkler has zero interest in soccer, he originally stepped in to save the Jets for the community itself, not for his own interest, I recall an article saying he was trying to sell the Jets to raise some money to keep his stake in the Knights...

Bingo. I don't think a lot of people here have any idea what they're talking about when it comes to this matter.

 

[BunniesMan]

People who think he has a genuine interest in the Knights are no smarter than the people talking about the Jets.

He is a little grub who only cares about himself.

My instincts were right all along. My bullshit detector was going into overdrive when it came to him. Just looking at him I always had a gut feeling he's no good. I was 110% right.

The NRL needs to be more proactive about helping the Knights by getting him out instead of sitting on their arses and doing nothing helpful.

 

[Apey]

My instincts were right all along. My bullshit detector was going into overdrive when it came to him. Just looking at him I always had a gut feeling he's no good. I was 110% right.

http://forums.leagueunlimited.com/showpost.php?p=9977156&postcount=2190

 

[BunniesMan]

SHUT UP APEY.Using my own words against me from 3 and a half years ago is ridiculous.

How long did it take you to find that?

Since then I've wisened up. You can't find anything more recent because we've all gotten to know him over the last 3 years and realised what he's like. I was naive back then. I am smrt now.

 

[eozsmiles]

Bingo. I don't think a lot of people here have any idea what they're talking about when it comes to this matter.

Tinks was pretty clear when he took over the Jets that he was doing it to be the good guy. Said he knew little about the game, never followed it, but recognised that plenty of people in town did.

I still think that he got into all this with noble intentions, but as the s**t hit the fan things changed. When he signed up, $20 million was toilet paper. Either being the boss or being seen as the saviour were the main things he was interested in. I don't think the plan was to f**k the joint.

It's hard to say what losing a billion dollars does to a person's personality. He's always been a snakey bugger, but maybe his FTW attitude went into overdrive with the business and family trouble he had over the past couple of years.

 

[Apey]

How long did it take you to find that?

About 2 minutes. Then I remembered El D had saved me the trouble earlier in this thread.

Since then I've wisened up. You can't find anything more recent because we've all gotten to know him over the last 3 years and realised what he's like. I was naive back then. I am smrt now.

You have a funny definition of all along, always and 110% right.

My instincts were right all along. My bullshit detector was going into overdrive when it came to him. Just looking at him I always had a gut feeling he's no good. I was 110% right.

 

[Noname36]

People who think he has a genuine interest in the Knights are no smarter than the people talking about the Jets.

He is a little grub who only cares about himself.

My instincts were right all along. My bullshit detector was going into overdrive when it came to him. Just looking at him I always had a gut feeling he's no good. I was 110% right.

The NRL needs to be more proactive about helping the Knights by getting him out instead of sitting on their arses and doing nothing helpful.

http://forums.leagueunlimited.com/showpost.php?p=9977156&postcount=2190

:lol: enough said!

 

[Hello, I'm The Doctor]

^^^
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[Noname36]

Tinks was pretty clear when he took over the Jets that he was doing it to be the good guy. Said he knew little about the game, never followed it, but recognised that plenty of people in town did.

I still think that he got into all this with noble intentions, but as the s**t hit the fan things changed. When he signed up, $20 million was toilet paper. Either being the boss or being seen as the saviour were the main things he was interested in. I don't think the plan was to f**k the joint.

It's hard to say what losing a billion dollars does to a person's personality. He's always been a snakey bugger, but maybe his FTW attitude went into overdrive with the business and family trouble he had over the past couple of years.

Yeah, contrary to what idiots like BunniesMan thinks he is actually a huge Knights and Rugby League fan. He was handing the Knights money for years before ownership even came up simply because he was a fan of the team.

I'm all for people here who have never met the bloke continuing to act like he's Hitler incarnated but at the end of the day he's saved a town's soccer club (and he really did - the Jets were goooooonnneee) and has also pumped a lot of money into the Knights knowing full well he wouldn't get anything in return.