Newcastle Knights Members Club board to ask Nathan Tinkler to walk away

[mozza91]

I always thought the anti Bennett sentiment in the Herald was due to Bennett giving limited access to himself and the players?
They brought it up on NRL 360 when Mase was on it the other week. These RL journo's who almost always (a few are exceptions eg Mascord) bag the game and blow every little incident out of proportion want more access to the players? Coaches like Bennett have every right to tell them to bugger off.

 

[Seage]

What exactly would Keeble and Dillon do in this town if they were anti -Knights I ask you? Write about our epic basketball and netball teams. Talk about small minded. The Herald have sold their papers on the back of the Knights. This idea that The Herald are responsible for the Knights being where they are is utter crap. They ran an agenda against Brian Smith when it suited because he dared show up how utterly crap our 2007 side was. They have been after Wayne from day one. Their impartiality is appalling. The Daily Telegraph is the biggest selling paper in this state and the most viewed online. What do you mean where is the logic?
I suggest you stick around in the mediocre no money years and the rest of us will be thankful we are debt free and came up one game shy of the SHOW last season.

Think you've missed the point. I don't recall wearing rose-coloured glasses for the wooden spoon or 2007 period when we were broke and busted arse. Nor did I ever said the Herald were responsible for the Knights success or otherwise - but they have enjoyed a close and productive relationship with team for the best part of 20+ years. What exactly has the Daily Telegraph delivered us by virtue of being our 'official paper'? One halfwit journalist and not bunch of overly positive stories.

If HSG had any brains they would leverage the relationship with the Herald because it is far more likely to have an impact with the people of the Hunter. Instead they have severed ties and alienated it, creating a divisive atmosphere where you seek to defend an idiotic relationship with an irrelevant paper to cover management incompetence. And trust me, I'm no blind Herald apologist. But surely you would get more benefit from utilising them as opposed to the Telegraph, who are focused on the Sydney teams to sell to the Sydney market.


We have a good coach, we have a good roster. Yet we're still a poorly-run basket-case that is doing a lot of long term damage which will be felt when the Wayne show rolls out of town. Whenever they may be and whatever success it may bring.

 

[Nuffy]

I think the reality is somewhere in between. The Herald wasn't anti Tinkler initially but wasn't pro Tinkler either so that ran against them once HSG took over.

Both sides doubled down at that point and there is no doubt the Herald has been gunning for HSG / Tinks for quite some time.

Neither party gain from this impasse and I agree with the notion that the Knights should do more to engage with the Herald, better they be in the tent than out of it because even though I get the Tele here in Sydney, they don't exactly do much for the Knights and frankly they lay the boot in just as much as the Herald.

 

[Nuffy]

Also I am now firmly of the view that I hope Tinks can't get the money in place by 5pm today and action proceeds.

We need to shut down the circus once and for all.

 

[Seage]

Yeah, agreed, we could do without the constant speculation frankly. He has cleared our debts, delivered us a world class coach and some star players and that will be his legacy. Unfortunately it doesn't appear as though he can do much more for us and the time might be right to hand the baton to a more stable, but perhaps less glamorous form of management

 

[perverse]

He will get the guarentee in place. I see no reason for him to lose control of the club like this... one would think he would speak up if he couldn't get the deal done. It seems the message within the club has been one of "business as usual".

I would think it'sa case of the media beating up their own story. M. Gidley was right in saying you could whip up a media storm like this every time a deadline in his agreement with the Members Club approaches. We had the same thing with the various audits that are to be done year on year.

 

[Alex28]

Guarantee isn't in place. Members Club taking steps to get the cash...

 

[Burwood]

This deadline doesn't actually mean anything though does it? Tinkler still has until Monday to find the money. All the Member Club is doing is ensuring that, in the event of the money not being there by Monday, that they will have access to the $10million and Tinkler can't swindle them somehow.

 

[perverse]

Yeah, I believe they're going to hold the bank guarentee to ransom, so to speak. That's the plan anyway.

 

[Alex28]

Money to be placed in an account under dual signatory (Members Club and HSG). Doesn't mean we are suddenly $10.5 Million richer, just means we have a hand on it and can get to it if/when we buy the club back for $1...

 

[Nuffy]

Guarantee isn't in place. Members Club taking steps to get the cash...

Good, my concern, perhaps uncharitably was that the delay was designed to get into a position where the Knights couldn't draw down on the money and it went to pay debts.

I could understand the temptation frankly.

 

[Tom155]

Newcastle Knights ‏@NRLKnights 7m Newcastle Knights bank guarantee update: http://bit.ly/1jtTMoC #goKnights

 

[Nuffy]

Unusual turn of events, my reading is that HSG want to walk away, likely with some of the bank guarantee for relinquishing the control of the Knights.

Otherwise why would they allow the correct level of bank guarantee to be moved into a joint account and talk about changes to ownership.

I suspect that they aren't able to make up the additional shortfall required for sponsorship which is part of the deal so they know it's going to fall over anyway, better to negotiate their way through this and potentially recoup some of the guarantee money.

I hope Wests are willing to step in, they are professional and cashed up and I think without HSG, sponsors will come back.

Very interesting developments but it looks like HSG are on their way out.

 

[Nuffy]

Here is the full announcement.


Following a meeting earlier on Wednesday between the Hunter Sports Group (HSG) and the Newcastle Knights Members Club, HSG has allowed the current bank guarantee ($10.52 million) to be transferred into a joint-signatory bank account.

HSG has been in fruitful discussion with the NRL over a period of time to identify a unified business model to ensure the long-term future of the Knights.

This guarantee has been placed in a secure bank account with joint signatories being HSG and the Members Club while negotiations between the Members Club, the Knights and the NRL continue.*

The current ownership model and management team will remain in place throughout the duration of these discussions.

No further comment will be provided by any parties involved during this period of negotiation.

KEY POINTS:

$10.52 deposited into a joint bank account with joint signatories
Ownership currently remains unchanged*
NRL, Knights and Members Club undertake negotiation to identify a new model moving forward
HSG remains committed to contribute and support the Knights into the future

http://www.newcastleknights.com.au/news/2014/03/26/bank_guarantee_update.html

 

[Alex28]

"HSG has allowed the current bank guarantee ($10.52 million) to be transferred into a joint-signatory bank account"

That's an awesome attempt to spin the fact that they had their Bank Guarantee called upon into some act of generosity by Tinkler. It's a letter of demand - he wouldn't have had any choice!

 

[Nuffy]

"HSG has allowed the current bank guarantee ($10.52 million) to be transferred into a joint-signatory bank account"

That's an awesome attempt to spin the fact that they had their Bank Guarantee called upon into some act of generosity by Tinkler. It's a letter of demand - he wouldn't have had any choice!

The whole thing is a perfumed suicide note for HSG. They are on the way out and are trying to make the best of a sh*t sandwich and I assume winkling some of the guarantee for themselves.

 

[The Showstopper]

This all makes Rob Tew's refusal to bend to HSGs 'with strings attached' approach look all the more brilliant doesn't it. Going debt free into a deal with WESTS is actually more appealing than ever. It makes perfect sense. Especially given how many Knights are juniors from there. Here is the catch? WESTS is more or less a brand now. Are they going to want the Knights lending their name to the same line in the letter heads? In other words does it beocme WESTS/Newcastle Knights leagues club or do we adopt a joint venture type setup? Would you take aname change or alteration if it meant we stayed strong on par with our HSG glory days ie. All 6 months of it before Tinks decided to out himself as the world's worst gambler.

 

[slotmachine]

That's an awesome attempt to spin the fact that they had their Bank Guarantee called upon into some act of generosity by Tinkler. It's a letter of demand - he wouldn't have had any choice!

Exactly.

The whole thing is a perfumed suicide note for HSG. They are on the way out and are trying to make the best of a sh*t sandwich and I assume winkling some of the guarantee for themselves.

They? HSG = Tinkler.

No way in the world does Tinkler want to hand over what could be his last $10m.

The lawyers will be rubbing their hands together.

 

[Baron Vo Mandor]

Having Wests management run the club in a Non BS way compared the circus that surrounds the HSG can only be a good thing.

 

[Nuffy]

Exactly.



They? HSG = Tinkler.

No way in the world does Tinkler want to hand over what could be his last $10m.

The lawyers will be rubbing their hands together.

Thats the whole point of what seems to be a negotiated seperation, I am assuming HSG will ask for a portion of the guarantee for relinquishing control of the club.