Patron's Trust

[B-dos]

hmmm,

so no guaranteed income of any kind, no required junior investment, no not-for-profit, yet all these things were originally considered major sticking points for most here?

so no nothing but 10 mil in a bank account so that should tinkler need/want to sell thats all he'll get for the club no matter how successful they are at the time

interesting....

 

[Karmawave]

So your solution is that Tinkler pays the "purchase price" to himself, to use on his football club.

Not easily? It doesn't work at all - at least not without the guarantees that you would remove!

That is my point mate.

We are a company limited by guarantee - we cannot "pay" monies to our members. On winding up, the club's residual assets (ie any left over cash) are transferred to the Real NRL.

In brief, my very simple solution is for Tinkler to assume all assets and liabilities of the club, the limited by guarantee company be wound up, and a sum of $10mil (or whatever) be paid to the Real NRL - who will hold it in an interest bearing account, and it will be the reserve purchase price for a first-right-of-refusal purchase agreement to be executed between Tinkler and the Real NRL.

No guarantees, no complexity, nothing - just a first right of refusal agreement on sale - allowing for transfer of the club (and the first right of refusal purchase agreement) to a related entity, etc, but with all of the usual terms.

Let him do what he wants with the club otherwise.

Only other possible issue is junior funding as that is a core plank of our current purpose. Surely that one is easily solved too with an agreement between Tinkler and the Real NRL.

Thoughts?

All for it. 100%

I guess if you try and approach Burro with this, you'll be able to find out first hand for all of the absurd doubters, whether or not Tinkler was fighting a losing battle against the Patrons Model, because clearly this is logical and workable.

Get it done MACCA goddamn it.

 

[Karmawave]

On a different note, and serious question Macca, but have you ever attempted to pick up the phone to give Tinkler a call?

 

[Baron Vo Mandor]

Macavity being president of the number 1 fan club for the Knights would have an excellent chance of Tinkler taking his call I reckon. - Being that his doing it for the fans and region and such.

 

[Karmawave]

Macavity being president of the number 1 fan club for the Knights would have an excellent chance of Tinkler taking his call I reckon. - Being that his doing it for the fans and region and such.

I agree which is why I am wondering if he's ever tried to give him a call.