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Despite the acrimonious split, Nathan Tinkler leaves Knights with $5m sponsorship gift
Barry Toohey
The Daily Telegraph
May 25, 2014 12:00AM
Newcastle Knights ownership up in the air3:36
THE party might have ended for Nathan Tinkler at the Newcastle Knights but it hasn’t stopped him leaving behind a farewell gift — a $5 million sponsorship.
It’s understood the deal, worth $1 million a year over five years, was negotiated and agreed on between Tinkler’s Hunter Sports Group and the NRL during the handover process last week.
HSG CEO Troy Palmer confirmed the figure on Saturday during an interview with The Sunday Telegraph, claiming that while Tinkler has relinquished his ownership of the Knights and will have no future role in running the club, he still wants the Knights to prosper.
Tinkler has been widely pilloried for his collapsed ownership of the Newcastle Knights.
“Just because he is going doesn’t mean he is any less a supporter of the club,” Palmer said.
“Like everyone in Newcastle, he wants to see the club do well and still wants to do his bit to help make that happen.
“Contrary to what some people seem to think, he is willing to step up when others don’t.”
Palmer said the sponsorship will be attributed to a company of Tinkler’s choosing when the time comes.
Tinkler’s act of goodwill may be looked apon with scepticism by his many critics who are happy to see the back of him but Palmer said the sponsorship offer is genuine and has been agreed to by the NRL.
While speculation continues to swirl around about the state of the Knights books and just how much debt the club has accumulated over the three years since Tinkler was in charge, Palmer is adamant it is less than the $10.52 million the Knights currently have sitting in a bank
He scoffed at rumours of debts approaching $20 million and significantly, claimed HSG will meet all their financial obligations.
“The total debts of the club are considerably less than the $10.52 million term deposit,” he said.
“HSG will take responsibility for all liabilities.”
It’s been a tough week for the Knights, on and off the field.
That will be music to the ears of Wests Group management, who are being courted by the NRL to play a big role in back-rolling the Knights going forward following Tinkler’s departure.
It’s understood Wests are interested but understandably, won’t get involved if they are asked to cover existing debt.
Meanwhile, the future of coach Wayne Bennett and his staff remains clouded although suggestions all their contracts are now null and void because they are with HSG and not with the Knights is a fallacy according to Palmer.
“
Wayne and all his staff are contracted to the Newcastle Knights and always have been,” Palmer said.
