Nathan Tinkler relinquishes ownership of the Newcastle Knights

[BunniesMan]

Brisbane is in NSW now?

Moron...

Completely missed the point. Point was if even Brisbane can't be a superclub in this day and age then Newcastle can't.

 

[PaddyBoy]

The Knights were burning up to a million a year before Nthan got there and since then they have seriously multiplied their spending ie coaches and staff. If Nathan walks, or falls, then that $10 million will be a nice pillow but only for a few years. The Knights will need to find another leader IF the tv rights deal doesn't toss enough extra coin their way.

Read in the paper the other day that Tinks is worth $658 million on paper and owes $643 million. It's in the Newcastle Herald, can't be bothered finding it and linking it.

Someone said that anyone that saves a club is cool and he did help out. But this situation is about the whole town he lives in and the valley. I have links to the Hunter and look past the future of the Knights with this whole drama. Like a bloke said in the article from September 5, when Patinack got going people thought they were on a steady income stream but instead they have spent all their time chasing the money. That is the feeling amongst many in that region from many different industries. And it's not like he is stringing out the bank or something, he's holding out small businesses for figures like $100,000. It's going close to breaking them. Wayne Bennett gets $100,000 a month, not everyone is pleased to see that while average novocastrians get shafted.

Can't help but laugh at the reaction of the Tinkler group to the airing of these stories. They consider the whole thing a beat up by Fairfax and a vendetta. 100 business come forward to say that they haven't been paid, the stock exchange paints a pretty clear picture, and the official Tinkler statement is pretty much to call BS on it. Classy.

People seem to take this bloke at face value, despite so many reasons not to.

Russel Crowe strikes me as someone who loves his club and wants them to succeed, Tinkler like he wants something to show off. If that's the case I hope the Knights members get enough to keep them successful.

 

[newyboy]

How does this sound.


A small town with a footy team and a round ball team that are finacially struggling. A local boy made good on paper wants to make make heaps more money on paper by building a new coal loader and container terminal, to do thuis he needs government approval. How can i get this cheap mmmm?

I'll bail out the two local footy teams and ride in on my white horse. They'll love me, i could be Lord Mayor, but i have bigger fish to fry.

First i'll give them a scare and disown one of the clubs, that worked, i'll help them out again just to cement my Hero stauts with the townsfolk.

I approach the government with my master plan and explain that they all love me in the valley and if you don't approve it, i'll pack up and go and the die hards will kick your arse at the next election, sounds like a good plan and only cost a little outlay.

Problem was, the government said "NO", so i'm taking my ball and going.

 

[eozsmiles]

How does this sound.


A small town with a footy team and a round ball team that are finacially struggling. A local boy made good on paper wants to make make heaps more money on paper by building a new coal loader and container terminal, to do thuis he needs government approval. How can i get this cheap mmmm?

I'll bail out the two local footy teams and ride in on my white horse. They'll love me, i could be Lord Mayor, but i have bigger fish to fry.

First i'll give them a scare and disown one of the clubs, that worked, i'll help them out again just to cement my Hero stauts with the townsfolk.

I approach the government with my master plan and explain that they all love me in the valley and if you don't approve it, i'll pack up and go and the die hards will kick your arse at the next election, sounds like a good plan and only cost a little outlay.

Problem was, the government said "NO", so i'm taking my ball and going.

Doesn't sound bad. Probably right about the lord mayor job too. In any case the richest bloke won that.

 

[kmav23]

Tinkler is in serious trouble....

with the resource prices going south.... his highly exposed....

his taken huge punts...and it might all collapse....

if he can't afford to pay small debts. then things are very bad

 

[El Diablo]

http://www.triplem.com.au/sydney/sp...e-knights-boss-going-broke/20120927-h9ye.html

Newcastle Knights Boss Going Broke?
Post by: Jelly 27 September, 2012 - 11:19 AM

With club owner Nathan Tinkler reportedly being chased for unpaid debts, doubts are increasing over the future of the Knights.

Former Newcastle Knights player, Triple M's Matty Johns exclusively revealed that club credit cards have been cancelled.

"I know some Newcastle Knights staffers went to pay for certain things on a club credit card and it had been cancelled. From that point of view, there are some obvious concerns. I just hope that Wayne Bennett got his money up front," Matty told The Grill Team.

Matty Johns says "The Knights short term future is assured." Former Knights chairman Robbie Tew put safety nets in place before Tinkler took ownership of the Knights, but the worry is that the club's reputation is now inseparable from Tinkler's.

And, although the club would still have solid financial footing, MG says "if you are a player or on the coaching staff, you'd be starting to get a little bit twitchy."

Matty hopes that the Knights continue to be one of the powerhouses of League, but he says "the real concern is that every single day I pick up the paper and there are new revelations about Nathan Tinkler. Not only is it a real problem for the Newcastle Knights, it could be a real problem for the NRL."

 

[Joker's Wild]

Not good but the reality is we would go back to the community model that was 1st proposed if Tinks ever had to pull out of the ownership. The club wont die like some are suggesting in the media

Jets fans would be worried though

 

[carlosthedwarf]

Not good but the reality is we would go back to the community model that was 1st proposed if Tinks ever had to pull out of the ownership. The club wont die like some are suggesting in the media

Agreed, something would save them. Even if it was the NRL, it's too valuable a team to lose. The clubs are about to get the new TV money as well.

Jets fans would be worried though

I'd be worried as a fan of any A-League side.

 

[Raiders_Premiers]

Ring Gids.

 

[El Diablo]

I'd be worried as a fan of any A-League side.

never fear they have a savior

 

[carlosthedwarf]

never fear they have a savior

:lol::lol:

 

[Big Sam]

I'd be worried as a fan of any A-League side.

Why? The new TV deal will ensure the long term viability of the league.

 

[Perth Red]

Completely missed the point. Point was if even Brisbane can't be a superclub in this day and age then Newcastle can't.

Talking about missing the point, I said super CLUB, not team. Der!

 

[Raiders_Premiers]

http://www.smartcompany.com.au/lega...ontinue-as-companies-face-wind-up-orders.html

Tinkler woes continue as companies face wind-up orders

Tuesday, 09 October 2012 10:05
Patrick Stafford

Three companies owned by troubled mining billionaire Nathan Tinkler have had wind-up orders made against them in the Queensland Supreme Court, in yet another frustrating development for the prominent investor's empire.
The past month has been a disaster for Tinkler, who was booted from the top of the BRW Rich List mainly due to a decline in commodity prices. Property groups Mirvac and Blackwood Corp have also made legal threats against Tinker's companies for failing to make payments.
A spokesperson for the Tinkler Group declined to comment this morning.
Mining contracting group Sedgman has made three wind-up applications against Tinkler Group Holdings, Hunter Ports, and Bolkm. The applications were made last month, but the hearing dates are set to for October 15 and October 22.
The Tinkler Group was contacted this morning, but declined to comment.
Sedgman chief financial officer Ian Poole has also claimed the company had reached a schedule with the Tinkler companies for payment of $2 million relating to a coal project that was eventually rejected by the New South Wales Government, but that this timetable wasn't met.
"We have lodged our application," he told Fairfax. "This is really a commercial negotiation between ourselves and Tinkler."
The wind-up applications come after Tinkler missed a court-ordered deadline to pay $17 million for land usage in the same project to Mirvac. Both Mirvac and Tinkler's Buildev Group are set to hear out their case in court later this month.
A separate dispute with building group Blackwood is also underway, with the company claiming Tinkler's Mulsanne Resources owes it $28.4 million.
While much of the attention on Tinkler's finances has been focused on his various private companies, his 21.4% stake in Whitehaven Coal has also attracted speculation. He attempted to launch a $5.25 billion takeover in August, but failed to raise finance.
Tinkler also tried without success to sell his horse racing and breeding interests for $200 million.
Speculation continues over Tinkler's debt, with reports placing it as high as $697 million, although Tinkler spokespeople have stridently rejected that figure.
Tinkler's fortune is now valued at $400 million, down from $1.1 billion earlier this year. He is now in second place on the BRW Young Rich List.

http://www.abc.net.au/news/2012-10-10/tinkler27s-debts/4305850

State MP questions Tinkler's finances

Posted 3 hours 58 minutes ago





The State Government says Nathan Tinkler has agreed to pay almost $900,000 in outstanding debts for use of Hunter stadium, but it is still trying to recoup another $400,000.
Opposition MLC Linda Voltz questioned Sports Minister Graham Annesley during budget estimates about the deadlock between between Hunter Venues and Mr Tinkler's Hunter Sports group.
The Minister says progress was made during further talks yesterday.
But Mr Annesley also confirmed the dispute has been a sticking point in negotiations over the group's new 10-year stadium access agreement.
"As a result of the disagreement or discussions about the amount of monies outstanding," he said.
"There have been ongoing discussions about and extended agreement for the long term hire of Hunter stadium but those discussions have been complicated by the amounts that have been in dispute."

 

[Perth Red]

A fine figure of a man!

 

[_snafu_]

Hey hey hey, it's fat Nat.

 

[joshie]

http://www.dailytelegraph.com.au/sp...-player-payments/story-e6frexnr-1226496755803

ALARM bells are ringing over the future of the Newcastle Knights under the ownership of embattled mining magnate Nathan Tinkler following the revelation the club has fallen behind in player payments.

Leaguecentral.com.au can reveal that monthly salaries have not been deposited into the players’ bank accounts on schedule this morning.

Superannuation payments and office staff salaries have also been delayed in recent months.

A number of players phoned their agents to say the payments due on the 15th of each month had not been paid yesterday.

The money had still not been deposited this morning.

Rise and fall: Inside Tinkler's fading fortune

Timeline: Tinkler's chequered sporting history

Hunter Sports Group spokesman Richard Fisk denies there is a problem.

"I accept there has been tardiness in the past," Fisk said.

"But all pays for Jets, Knights, HSG employees have been processed and will clear today in the normal course of business."
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When trying to contact Fisk to quiz him about payments, he texted this reply: "Not late. Obviously confusion over weekend. Wages not late processed on 15th and will clear today. We are probably waiting on All Too Hards prize money from the weekend...lol"

The crisis involves many of the biggest names in the game including skipper Kurt Gidley and club veteran Danny Buderus.

It is not clear if super coach Wayne Bennett has been paid.

The now Singapore-based Tinkler was once rated Australia’s richest man under 40 by Business Review Weekly.

He purchased the Newcastle Knights and hired super coach Wayne Bennett on a deal worth more than $1 million a season.

Part of the deal negotiated by the club’s former CEO Steve Burraston ensured a $20 million bank guarantee was part of the deal.

The NRL has again been caught on the hop over the club’s finances.

I recently asked acting CEO Shane Mattiske about rumours of the Knights’ financial crisis.

"We have been assured by the Knights that there is no issue," said Mattiske.

"In our monitoring of the club's finances, we've seen no evidence that would suggest we should be concerned. We understand that some of the media reports are clearly going to lead to speculation.

"We continue to monitor the Knights, as we do all clubs. It is important to remember that there are also a number safeguards that were built into the original transfer of the licence to Hunter Sports and these remain in place."
Tinkler has had a chequered history in Australian sport, including earlier this year handing back the Newcastle Jets' A-League licence after learning Gold Coast owner Clive Palmer bought his for next to nothing. He eventually performed a U-turn and decided to continue ownership of the team.

His Patinak Farm has also come under scrutiny, with rumours he was scaling down his $500,000-a-week bloodstock operation.

Tinkler was also involved in a legal dispute with horse trainer Anthony Cummings that ended in an out-of-court settlement believed to be more than $1 million.

EDIT

http://www.newcastleknights.com.au/n...as-usual/65151

Quote:


Tuesday 16 October 2012 10:04 AM



Contrary to a report earlier today, the wages have been paid to Newcastle Knights staff and players on time and in the normal course of business.
As per normal business, wages are processed on the 15th of each month, and cleared on the 16th into individual accounts.
“This is an absolute non issue at the Knights,” CEO Matt Gidley said.
“I have yet to field one phone call or enquiry from an employee or player in regards to this matter.”

 

[BunniesMan]

Hmm... very concerning. Similar issues to the Titans it appears.

 

[some11]

There's only one way to solve this - build a Centre of Excellence.

 

[mozza91]

Wow Rothfield writing his weekly anti Knights article. Unfounded rubbish.