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Nathan Tinkler relinquishes ownership of the Newcastle Knights

S

Spot On

Coach
Messages
13,905
And of course you can bring up the quote/s where I have stated that Spock.

It's very unlike you to miss a Tinkler related article as well.
 
kmav23

kmav23

Juniors
Messages
2,014
If tinkler is putting in 8 million a year of his own money then he won't last another year as his wealth will be wiped out after his shares are sold.

If tinkler is only worth 50 million there is now way he can afford to own the club.
 
S

Spot On

Coach
Messages
13,905
.... and no-one cares. Goes bust, makes another billion - whatever. Russell Crowe is trying to pull out of Souths. Nothing lasts forever.

Tinkler will not own the Knights forever. That's a fact that is undisputed. Sooner or later he will either pull the plug by his own choice or go bust and gift the club 10 million.

Hopefully Bennett stays the distance and has excellent structures and systems in place throughout the club and local league before he goes. That's the important thing for the club's future.
 
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R

rnb11

Juniors
Messages
820
All Knights fans that I know realised from day one that Tinkler and Bennett are only here to turn the club around and give us everything we need to be successful in the future. We needed a change and that's what they're doing. Whatever happens, we're always going to be better off with what Tinkler has done.
 
9701

9701

First Grade
Messages
5,400
Perth Red said:
wow, he has already put $9mill into the game in Newcastle, whatever happens here on it is a no lose for the Knights and Jnr RL in the region. I just hope they are using the money wisely and using some of it for future proofing the club and the game in that area. Anyone know what the $2.5mill Jnr development is being used for? That is a nice development pot for the game at jnr level on top of what is already happening in the region.
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Actually there has been more than 9 million put into the club. Tinkler wiped the debts the club already had, he has a guarantee of a minimum of 10 million per year (for 10 years) in sponshorship, the money for juniors, and some say Bennett is paid separately by HSG. This is why us supporters have been vocal in talking down fools like kmav and co.
 
kmav23

kmav23

Juniors
Messages
2,014
http://online.wsj.com/article/SB10001424127887323539804578260653084500408.html

By ROBB M. STEWART

The fortunes of electrician-turned-mining magnate Nathan Tinkler are sliding backward. That may be a boon for shareholders in Whitehaven Coal WHC.AU -2.23% .

Mr. Tinkler built his wealth by leveraging up on a series of coal deposit deals. The tactic served him well while demand for Australia's coal riches was booming. He rolled some of those assets into Whitehaven last year, in return for a 20% stake worth about 1 billion Australian dollars (US$1.1 billion).

Enlarge Image

Reuters
Nathan Tinkler

But a tough run for coal miners has seen sharply weaker prices and rising costs force job cuts, curtail expansion plans and lead to the closure of unprofitable mines. The value of Mr. Tinkler's Whitehaven shares, which he pledged against some of his loans, has fallen to about A$700 million. Now, some creditors and Australia's tax office want to force Mr. Tinkler to liquidate some of his businesses and assets including a soccer team and a jet.


It's a rapid reversal of fortunes for Mr. Tinkler, who, in July, moved to control Whitehaven with a A$5.3 billion bid. He pulled the deal a month later as coal prices sank. He then attempted to oust the chairman and other directors, but failed to garner support from other shareholders.

It now seems likely Mr. Tinkler will be the one forced to exit. That is a positive for other Whitehaven investors. With Mr. Tinkler forced to sell out, it removes an antagonistic major shareholder. It also eliminates any overhang on the stock from the pending sale of such a large block of shares.

It also raises the possibility of a full takeover of the company, which has drawn admirers in recent weeks. Whitehaven ranks as Australia's largest independent coal producer, and has funding and the port and rail capacity in place to continue expanding—a draw for energy and steel companies in Asia, or those seeking to feed them. Whitehaven says it hasn't received any proposals, but China Shenhua Energy 601088.SH -1.37% and others have held talks with the coal producer.

A takeover bid holds the promise of a sweet premium. Other recent Australian coal deals have seen Gloucester and Macarthur Coal sold at premiums to the share value of nearly 45%. Despite a recent rebound Whitehaven's share price currently values the company at about 30% below where Mr. Tinkler pitched his buyout bid last year. His ouster could help other shareholders make up the difference.
 
Perth Red

Perth Red

Post Whore
Messages
72,250
The game of RL in the area is already $19mill+ up, who cares what happens from now? Knights are in a no lose situation, I bet the other broke arse NSW clubs wished that someone would come and throw $16mill at them in one year!
 
Big Tim

Big Tim

First Grade
Messages
6,500
kmav23 said:
If tinkler is putting in 8 million a year of his own money then he won't last another year as his wealth will be wiped out after his shares are sold.

If tinkler is only worth 50 million there is now way he can afford to own the club.
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Short sighted mate.

He obviously signed up to the deal with the intention of being able to bring in sponsors to the tune of at least 10mil/year eventually. Even Nathan wouldnt have expected to reach that figure in year 1.

If he can turn the club around (which he already has started) he can sell the club to sponsors. Wayne Bennett, Kurt Gidley, Aku Uate, Willie Mason, Danny Buderus..... these are just some of the names in the club that can entice sponsorship dollars.

Tinks knows that success breeds a desire for sponsorship. Everybody wants to be involved with the front runners of the comp. He is spending now, and if we get success on the field, sponsors will follow.

Its a speculator, like all of his moves have been, but it can pay off for him again.

If he folds, the Knights are in a far better position than we were 18 months ago.

You dont like the guy, great, but him going busts effect the Knights about as much as you losing your job effects me.
 
9701

9701

First Grade
Messages
5,400
I feel sorry for Loudstrat in all of this, aligning himself with the mental giant kmav and the other plebs. He has invested so much hate into this one thread if he was to admit he was wrong and be a man he fears he will look silly.

But i suppose that's what happens when you spew out posts when you actually have no idea of the true situation. In 12 months time we can all sit back and talk about the next audit, while kmav finds articles to recycle.
 
B

BKT

Juniors
Messages
115
kmav23 said:
http://online.wsj.com/article/SB10001424127887323539804578260653084500408.html

By ROBB M. STEWART

The fortunes of electrician-turned-mining magnate Nathan Tinkler are sliding backward. That may be a boon for shareholders in Whitehaven Coal WHC.AU -2.23% .

Mr. Tinkler built his wealth by leveraging up on a series of coal deposit deals. The tactic served him well while demand for Australia's coal riches was booming. He rolled some of those assets into Whitehaven last year, in return for a 20% stake worth about 1 billion Australian dollars (US$1.1 billion).

Enlarge Image

Reuters
Nathan Tinkler

But a tough run for coal miners has seen sharply weaker prices and rising costs force job cuts, curtail expansion plans and lead to the closure of unprofitable mines. The value of Mr. Tinkler's Whitehaven shares, which he pledged against some of his loans, has fallen to about A$700 million. Now, some creditors and Australia's tax office want to force Mr. Tinkler to liquidate some of his businesses and assets including a soccer team and a jet.


It's a rapid reversal of fortunes for Mr. Tinkler, who, in July, moved to control Whitehaven with a A$5.3 billion bid. He pulled the deal a month later as coal prices sank. He then attempted to oust the chairman and other directors, but failed to garner support from other shareholders.

It now seems likely Mr. Tinkler will be the one forced to exit. That is a positive for other Whitehaven investors. With Mr. Tinkler forced to sell out, it removes an antagonistic major shareholder. It also eliminates any overhang on the stock from the pending sale of such a large block of shares.

It also raises the possibility of a full takeover of the company, which has drawn admirers in recent weeks. Whitehaven ranks as Australia's largest independent coal producer, and has funding and the port and rail capacity in place to continue expanding?a draw for energy and steel companies in Asia, or those seeking to feed them. Whitehaven says it hasn't received any proposals, but China Shenhua Energy 601088.SH -1.37% and others have held talks with the coal producer.

A takeover bid holds the promise of a sweet premium. Other recent Australian coal deals have seen Gloucester and Macarthur Coal sold at premiums to the share value of nearly 45%. Despite a recent rebound Whitehaven's share price currently values the company at about 30% below where Mr. Tinkler pitched his buyout bid last year. His ouster could help other shareholders make up the difference.
Click to expand...

When you escaped from the asylum, did you forget your medication?
 
A

Alex28

Coach
Messages
12,059
1233 ABC Newcastle are reporting that the Members Club have confirmed Tinkler and HSG have met all of the requirements for the 2012 Financial Year.

Good news or not Kmav?
 
S

Spot On

Coach
Messages
13,905
9701 said:
I feel sorry for Loudstrat in all of this, aligning himself with the mental giant kmav and the other plebs. He has invested so much hate into this one thread if he was to admit he was wrong and be a man he fears he will look silly.

But i suppose that's what happens when you spew out posts when you actually have no idea of the true situation. In 12 months time we can all sit back and talk about the next audit, while kmav finds articles to recycle.
Click to expand...

Are you taking the piss 9701?:D
 
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