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

[Sydney Knight]

Did they actually pass last years audit? It was very quiet this year. If they have the club should be debt free. Be annoyed if the knight got the guarantee and found there was millions in unpaid bills? Maybe any bills would belong to HSG? Not sure.

 

[perverse]

Did they actually pass last years audit? It was very quiet this year. If they have the club should be debt free. Be annoyed if the knight got the guarantee and found there was millions in unpaid bills? Maybe any bills would belong to HSG? Not sure.

Yes, they passed last years audit without issue.

 

[ryana87]

I'm from qld... So the media up herereally only show the doom and gloom side of the story.... Can someone put my mind at ease and fill me in on the details of this story, in very basic terms..... Is there anything to be worried about..... What's the possibility of Bennett leaving.... Is it a big deal if he does?...

 

[The Showstopper]

We will be fine Ryan. Wayne will do what is best for him. Same with Darius. I would not dare to guess what either is thinking right now. Leaving will not be an easy choice.

 

[Noname36]

We will be fine Ryan. Wayne will do what is best for him. Same with Darius. I would not dare to guess what either is thinking right now. Leaving will not be an easy choice.

Wayne just did an interview on John Laws. He was getting quite emotional talking about Alex so Laws asked him a bit of stuff re Tinkler. Bennett said they hadn't seen Tinkler in about 6 months which wasn't out of the ordinary considering he's overseas a lot and he has very little input into the actual footy side of things.

Laws asked him if the Newcastle job had been harder than he'd expected and he said it had been. It was kinda hard to gauge whether he was planning on staying or going because he seemed emotional from the start of the interview so when he was asked about being at the Knights it was hard to tell if his sombreness was connected to him wanting to leave or it was still just because of the general mood over Alex. He said he was pleased to be here at the moment

 

[Nuffy]

Wayne just did an interview on John Laws. He was getting quite emotional talking about Alex so Laws asked him a bit of stuff re Tinkler. Bennett said they hadn't seen Tinkler in about 6 months which wasn't out of the ordinary considering he's overseas a lot and he has very little input into the actual footy side of things.

Laws asked him if the Newcastle job had been harder than he'd expected and he said it had been. It was kinda hard to gauge whether he was planning on staying or going because he seemed emotional from the start of the interview so when he was asked about being at the Knights it was hard to tell if his sombreness was connected to him wanting to leave or it was still just because of the general mood over Alex. He said he was pleased to be here at the moment

My view is that unless there is a material change in Bennett's salary, he won't leave, he'll honour the contract.

 

[Joker's Wild]

I'm from qld... So the media up herereally only show the doom and gloom side of the story.... Can someone put my mind at ease and fill me in on the details of this story, in very basic terms..... Is there anything to be worried about..... What's the possibility of Bennett leaving.... Is it a big deal if he does?...

We have the interwebs in Qld now ;-)

 

[The Showstopper]

Wayne's humanity has never been in question. I never thought i would see him this vulnerable though. He and Alex must have some extraordinary bond to be sure. Moving stuff.

 

[Burwood]

http://www.foxsports.com.au/nrl/wha...nights-ownership/story-e6frf3ou-1226875453196

STRUGGLING businessman Nathan Tinkler wants to sell the Newcastle Jets soccer team to save his ownership of the Knights.

The financial whirlwind that has shaken the former mining billionaire could lead to foreign ownership of the soccer club and only a 50 per cent share of the NRL club for Tinkler.

The Jets licence is said to be worth about $5 million. That cash would be poured back into the Newcastle Knights and almost ensure Tinkler can retain a 50-50 shareholding.

The Jets valuation comes after the Melbourne Heart were sold to the Abu Dhabi royal family, the owners of Manchester City, for $11 million.

The Western Sydney Wanderers are about to be sold for $10 million to a local consortium that includes Asian interests.

I’m told Tinkler’s agents have been in Asia for some time actively trying to find a buyer for the club.

He’s also being advised by John Singleton in Australia.

The A-League’s connections to Asia via the Asian Champions League and 2015 Asian Cup are sparking interest. The Hunter’s coal export links to Asia are another key element.

But if Tinkler does end up relinquishing control there will be a strong push to convert the Jets into a member-owned club.

FFA boss David Gallop is watching closely. At this stage players and staff are being paid on time, unlike the Knights players. There are mixed views about Tinkler’s ownership future with the Knights.

The club knows there is a better chance of keeping super coach Wayne Bennett if Tinkler remains.

He becomes a free agent and can head back to Brisbane if Tinkler is forced out.

Interesting development. Not sure what Tinkler wants with a 50% share of the club however. Thought he was more of an all-or-nothing type of guy.

If Tinkler's only bargaining chip is his relationship with Bennett, I don't think it is a big enough carrot to be dangling in front of the Members Club.

 

[Jono078]

He could just be trying to keep what he has in place I guess to see if he can financially regain some ground before losing the club completely.

 

[The Showstopper]

Anyone else a little bit nervous about the fact there has been no plan B spoken of should Tinkler lose control. I am going to speculate a little and suggest a co ownership by Tinkler and Singo is a very real possibility. Not a given. Just an option. The 50% ownership does not sound very Tinkler like unless he has something up his sleeve still.

 

[Sydney Knight]

Does anyone think the rumours that the knights have more debt than the bank guarantee are true?

If HSG passed the audit in December I don't see how this is possible unless all that debt was run up in the last 4 or 5 months.

I imagine the terms to pass the audit would mean no debt and the topup payment to bring the sponsorship up to $10m being made. With $10m plus the NRL grant and merchandise, gates etc shouldn't we have even been able to put some money in the bank especially considerIng HSG were paying Wayne B directly.

Does anyone think the debt part could be true or is it Newcastle Herald muckraking because they hate Tinkler?

 

[Spot On]

I thought the audit was to ensure HSG were securing $10m a year in sponsorship and investing at least $2.5m into local junior league. I'm assuming the books were opened and checked very f**ken closely as well, but who knows?

 

[perverse]

We won't know anything until some hard facts are made public. I dont know exactly what the yearly audits were to cover. Definitely ensuring sponsorship and the junior development investments... but it's possible thatthey didn't deal with new debt being accumulated.

 

[Nuffy]

I have very strong mail that the reason its taking so long is because its exactly as stated in todays Tele, there is more debt than the value of the guarantee.

Seems the NRL want to keep HSG involved because they are worried about the debt and hope that HSG can come up with the money.

Its a disaster all round.

 

[Nuffy]

We won't know anything until some hard facts are made public. I dont know exactly what the yearly audits were to cover. Definitely ensuring sponsorship and the junior development investments... but it's possible thatthey didn't deal with new debt being accumulated.

What can happen is that the debts could be within the Tinkler group and cross secured into HSG. Remeber the NAB were lining up for the guarantee.

I reckon that HSG have been tipping in borrowed money and the only assets they have are the Knights and Jets. If there are secured creditors, they get first crack which means that HSG cant return the club, even if they want to.

 

[Sydney Knight]

Surely the original agreement would have been written in a way that the knights assets can't be used as security by HSG and also that the Knights can in no way be linked to HSG debts.

 

[Frederick]

What can happen is that the debts could be within the Tinkler group and cross secured into HSG. Remeber the NAB were lining up for the guarantee.

I reckon that HSG have been tipping in borrowed money and the only assets they have are the Knights and Jets. If there are secured creditors, they get first crack which means that HSG cant return the club, even if they want to.

Sell the jets to help clear the debt.

No-one cares about soccer

 

[Noname36]

So Tinkler has bought a new coal mine for 150 mil.

 

[slotmachine]

found someone stupid enough to lend him money