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

[Noname36]

Looks like the Bennett haters on here might have their wish. Enjoy the Filipo signing lads. He'll be the best signing we get for years.

 

[knaus]

http://mobile.news.com.au/sport/nrl...sponsorship-gift/story-fndv33vy-1226930324566

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.

 

[Chicken_Hunter]

Nice

 

[The Showstopper]

http://www.smh.com.au/rugby-league/...del-for-newcastle-knights-20140523-zrmu0.html

Wests Group are the best equipped to run the show.I also like the independent board coming in. I have gut feeling we are going to get a heavy hitter for a CEO who the NRL may handpick with West Groups approval. The NRL have had enough. They are going to have a huge say in this club from now on, at least in the foreseeable future. Wests could cover Wayne's deal and if they so choose use Tinkler's sponsorship to do so. If we are indeed ebt free then WESTS GROUP taking over seems like an almost sure thing

 

[perverse]

That's pretty big of Tinks imo. You would have thought the NRL and Knights would have been happy enough with all liabilities paid and the club handed over with the $10mil. The extra $5mil shows that he probably did have the best interests of the club in mind, and is a nice major sponsorship to carry into the next era.

The bloke just cannot manage cashflow, and is a bit stupid as far as I can see. I don't think he has been malicious towards the club intentionally.

 

[Noname36]

The fact that the sponsorship is for exactly $1million a year it makes me wonder whether Tinkler has done this with the intention of us paying Bennett with it. I don't think Tinkler is a complete arsehole, and surely he'd feel a bit bad leaving Bennett in the lurch after he fought so hard to get him here...so maybe that money is intended to cover some of the staff that Tinkler was responsible for bringing to the club.

 

[perverse]

Whatever the case, it's pretty hard to keep hating on him if he does the right thing and gives us our club back debt free with a $1mil a year sponsorship. Despite the circus, he's going a bit above and beyond doing the right thing even.

 

[Noname36]

Whatever the case, it's pretty hard to keep hating on him if he does the right thing and gives us our club back debt free with a $1mil a year sponsorship. Despite the circus, he's going a bit above and beyond doing the right thing even.

Exactly. I don't care if it's for publicity purposes, it's all good for us anyway so if this us true, thanks Tinks.

 

[Burwood]

I'd like to see some of these wealthy benefactors remain off the sponsorship books and help out with luring players to the club with 3rd party payments. Obviously Tinkler wouldn't be the most reliable, but if the White Knights really do have money and are willing to help, I'd like to see them utilised that way.

 

[Rod]

Yep, nice to see a bit of goodwill from the bloke despite there obviously being a little bit of bitterness there over the way it ended.

As HSG mentioned in their press release, must be frustrating constantly dealing with media rumour stated as fact as well. The ~$20m of supposed debt, Bennett not being contracted to the Knights etc. Honestly, the fact that Bennett is contracted to us both surprises and pleases me, despite the media constantly being wrong I'd always thought that particular detail was a fact.

 

[The Showstopper]

Full credit to Tinks for not being bitter. I don't hate him or even dislike him. He is a jerk businessman. That is all. In other words a good chance he will be a billionaire again. Good luck to him.

 

[Alex28]

The guy could have just walked away and had nothing more to do with the club. Whilst he is his own worst enemy, what he did do is leave us better than when he found us, live up to his requirements along the way (obviously until this year), and help secure the future of the club well past his exit.

Good on him.

 

[macavity]

We have to actually get the cash out of him you know....

 

[goodplayer]

The bloke just cannot manage cashflow, and is a bit stupid as far as I can see. I don't think he has been malicious towards the club intentionally.

thats where tinklers bipolar kicks in . crazy , unbalanced , moody , nut job ;-)

 

[Alex28]

We have to actually get the cash out of him you know....

Has he not actually paid anything he is obliged to as yet? He passed all of the Members Club audits. Yes payments have been late, however thus far he has paid everything that he has had to.

Hasn't he?

 

[Hello, I'm The Doctor]

Is this $million for the main shest sponors area???

 

[Nuffy]

I must say that I am disappointed that everyone has clocked off re sorting this shit fight out.

The delays suit no one and hurt the team more, surely all the stakeholders could prioritise this and get it resolved.

When we are doing deals and M&A's, you work until the issue is closed and the deal is done.

These blokes are working bank hours and have little sense of urgency. I would have hoped that once Tinks signalled his move, all stakeholders retreated to HQ to sort the process and detail out so that everyone can move on.

 

[Chicken_Hunter]

The National Rugby League (NRL) said on Friday night it has reached an impasse on an agreement which would secure the future of the Newcastle Knights.
Head of Club Services, Tony Crawford said the NRL and Hunter Sports Group had agreed on a package which would make the Knights financially secure.
He said the agreement would also ensure that the Knights jersey and logo were retained and that the team would continue to play in Newcastle.
But Mr Crawford said the Knights Members Club was holding up the agreement and preventing a resolution of the matter.
“The deal we have put forward will secure the future of the Newcastle Knights and set them up as one of the financially strongest clubs in the NRL,” Mr Crawford said.
“It’s a great outcome for the club, the players and the fans – but it is being held up by the Members Club.
“The sooner we can finalise this deal the better it will be for everyone associated with the Newcastle Knights.
“So it is disappointing that the Members Club continues to hold up the process.”

Mr Crawford said the NRL would continue to keep discussions open with the parties.
Knights CEO Matt Gidley added, "From our point of view, we just want the best possible outcome for the Club and anyone who has a view that differs from this should not be involved in the process.
"We continue to trust that the NRL will ensure we reach a resolution that achieves this objective as soon as possible. "


Sauce: http://www.newcastleknights.com.au/news/2014/06/06/nrl_statement_regarding_ownership.html

Great news. The fact that we are going to be financially sound and then some is positive.

 

[Joker's Wild]

Who are the KMC representitives holding up the process and why?

 

[Chicken_Hunter]

hopefully it's just due process and what not.