So essentially the ' Patrons Trust ' becomes a glorified tax write off for the rich donors putting money into the fund, while letting the Knights current flawed business model continue in exactly the same way they are now - except they'll have more money to spend on their flawed business management.
Great. ;-)
I view that as a way to simply elongate the inevitable.
While ever the money needs to be paid back by the Knights into the fund, and while the flawed business model the Knights have currently continues to be allowed to continue, where are the guarantees that the Knights will even continue to profit enough to pay back the fund?
Sure, its an incredibly favourable loan - interest free no doubt , but loans still need to be paid back right?
How exactly can we have any confidence whatsoever that the current business model will always ensure any loans bring profits?
What if it rains on game day 7 times a year after they've just borrowed $1M from the fund?
Its a glorified way to accumulate more debt in a way that is just nicer than the banks, but its still a debt all the same.
The appeal of Tinklers offer wasn't so much just the money being offered. It was the chance to bring in completely new management and a fresh business model to rid ourselves of the flawed one that exists currently. This part I believe has been severely underplayed, and the focus has been entirely on the cash.
From the rich donors perspective putting cash into the patrons trust, what isn't to like!!! It sure beats setting up some private shell company in the Cayman Islands to stash their money from the ATO. ;-)
Delaying the inevitable, that's all this is.