Should this be a concern for Knight's fans?

[Frances the Mute]

You got sms notifications coming directly to your phone whenever I post on this forum? Stalk me much :sarcasm:

I was actually being nice mate, you used to live here jump on the telegraph/sun herald/newie herald and you'll be as up to date as the rest of us.

Have to say mate you've been getting pretty snappy lately, everything okay?

 

[Old_Timer]

Oh Dear Mirvac are going to seize Tinkler's assets as reported in the news this evening. Still the Knights should be safe maybe??

 

[docbrown]

When does our period to buy back the club expire for the $20 million? Might be worth at the very least having Tinks agree to extend that period for 12 months.

The club has a bank guarantee of $20 million if Tinkler leaves before the 31st of December this year. After that they only get $10 million.

The buy back is still for $1.

Considering that he's paid off almost $6 million of debt the worst case scenario was always going to be that Tinkler runs the club for 2+ years, pays off all the debts, gives the club $10 million, hands the club back for $1 and we have to find a new ownership model.

 

[Old_Timer]

..... gives the club $10 million........

Tinkler? One can only ask his creditors if that is in keeping with his debt servicing history? Word in financial circles is that he is desperately trying to refinance debt and devoid himself of assets thereby reducing personal liability.

 

[Newie is God's Country]

http://www.heraldsun.com.au/news/na...proofed-nrl-club/story-fndo45r1-1226465968826

I agree on this article's suggestion that our reputation will take ahammering over this. Debt free or not the Naysayers will stick the knife in for all to see. Rothfield will be salivating over this one. Just imagine him with his arrogant I Told You So articles. What's worse is his up till now pathetic side got a 300 million development greenlit.

 

[Alex28]

Tinkler might not be our problem for much longer - we might be owned by Mirvac soon! ;-)

 

[Vin Fizz]

http://www.heraldsun.com.au/news/na...proofed-nrl-club/story-fndo45r1-1226465968826 What's worse is his up till now pathetic side got a 300 million development greenlit.

Interesting take on it. You got a wind fall of your own did you not.

 

[Newie is God's Country]

Interesting take on it. You got a wind fall of your own did you not.

We are debt free. Nothing more at this point. 12 months of ownership and things aren't looking crash hot are they? He has zero cashflow. As for the Sharks they have plenty to prove before my view on their chronic mediocrity changes. Happy to be proven wrong. I hope they succeed soon in winning a comp. Truth is Rothfield's attitude towards us is arrogant in the extreme. Typical shire snob.

 

[Vin Fizz]

We are debt free. Nothing more at this point. 12 months of ownership and things aren't looking crash hot are they? He has zero cashflow. As for the Sharks they have plenty to prove before my view on their chronic mediocrity changes. Happy to be proven wrong. I hope they succeed soon in winning a comp. Truth is Rothfield's attitude towards us is arrogant in the extreme. Typical shire snob.

Yeah fair points. Not a big TR fan tbh. He rode us deluxe when times were really tough. You touched on a good point. The development is about the cashflow from the property that will flow through to the club. That's the key. We will still have some debt but should remain eminantly servicable. I reckon the club will change and some of our signings and prospects appear to support that. I'm confident we will prove our doubters wrong. Anyway from a member of a club who's had the axe over our heads for decades I hope the true fans stick by the club.

 

[Hooch]

What's the advantage in moving to Singapore?

 

[Alex28]

Tax rate, closer to his main customers, closer to his lender.

 

[Frederick]

Plus he can have all the ladyboys he wants

 

[Big Tim]

Plus he can have all the ladyboys he wants

 

[cram]

And so the drama continues

http://www.dailytelegraph.com.au/ne...on-to-his-empire/story-e6freuy9-1226481073226

 

[Chicken_Hunter]

Could be worse... You could be a tigers supporter.

It has been a while since the last Tinkler article, makes me think its not too bad atm

 

[eozsmiles]

Could be worse... You could be a tigers supporter.

It has been a while since the last Tinkler article, makes me think its not too bad atm

It might have been a couple of days between articles but they weren't real good to read. His biggest asset has halved in value and he might have to sell it on the cheap. Mirvac are ready to walk into his house and take the tv.

As much as footy fans want it all to work out well, the reality is that if he owes hundreds of millions then his creditors will ask him to flick the switch on his hobbies.

 

[Alex28]

There have been a few articles in the Fin Review that the general opinion is that he has the cash to payout Blackwoods and Mirvac, however would rather play hardball with them than throw away good cash after bad investments.

I don't know that I'd be taking much credence in Daily Telegraph articles to be honest...he is trying to take control of Whitehaven by getting rid of the board which makes a bit of sense. If they are restricting his ability to do what he has done well in making his fortune, you get rid of them. Price and demand of coal is a bit of a worry though...

 

[eozsmiles]

There have been a few articles in the Fin Review that the general opinion is that he has the cash to payout Blackwoods and Mirvac, however would rather play hardball with them than throw away good cash after bad investments.

I don't know that I'd be taking much credence in Daily Telegraph articles to be honest...he is trying to take control of Whitehaven by getting rid of the board which makes a bit of sense. If they are restricting his ability to do what he has done well in making his fortune, you get rid of them. Price and demand of coal is a bit of a worry though...

I reckon their right, he must have some coins hidden away somewhere for a rainy day. But that is why Knight's fans are right if they feel concerned. You've just said what everyone has found out - he is an arsehole and uses money to screw with people. He wants to play hardball and not pay Mirvac and co, he surely wants to play hard with the govt over the stadium rent. The big boys are having a c**k-off.

But why play hardball with your staff and pay wages late? Why skimp them on their superannuation? Why not pay the tradies in the Hunter with their arses hanging out their daks? If he has the cash to pay his bills, why is he screwing the everyday workers? What point does that prove?
There is a bloke driving around Newcastle at the moment in a ute with a big cut out pig on the back. On the pig he has painted something like "Nathan T....please pay me!". He doesn't look like he owns Mirvac or Blackwoods. Why is Tinkler playing hardball with him?

At the end of the day Nathan has a history of being a slow payer and a habit of buying things without having the money.
It's one thing for people to be worried about the club being broke again. The bank guarantee etc goes a long way to addressing those fears. But the other concern is what would Nathan do to the club if he just felt like being a prick?

 

[The Showstopper]

Patinack goes up go auction next month. He could make 250 million if it goes well. Hardly poor house. Telegraph morons need to understand he is a risk taker for a reason. He is good at it. He also has a world class legal team behind him. Mirvac might be legally correct but they will spend plenty getting that 28 million. Tinks is no easy target. For some reason people think he is Robinson Crusoe there. It is a beat up. ALL Billionaires are the same cos everyone u shake hands with wants a piece of your wealth.

 

[eozsmiles]

Patinack goes up go auction next month. He could make 250 million if it goes well. Hardly poor house. Telegraph morons need to understand he is a risk taker for a reason. He is good at it. He also has a world class legal team behind him. Mirvac might be legally correct but they will spend plenty getting that 28 million. Tinks is no easy target. For some reason people think he is Robinson Crusoe there. It is a beat up. ALL Billionaires are the same cos everyone u shake hands with wants a piece of your wealth.

No offence mate but Patinack is probably worth an absolute max of $150 million. That might be kind. That includes all the land, not just the horses. They don't have a showpiece stallion, they don't have the blue ribbon broodmares, and they don't have quality racing stock. The current sale that is on, looked after by Gerry Harvey, might get $30-50 million IF things go really, really well.

He has spent $300 million on the farm, he won't be "making" $250 million out of it. Ever. He would have won the lottto for a third time if he simply gets $200 million for it and loses $100 million.

Not sure why people have been referencing the DT in this thread. Fairfax are the ones who have been on his arse and are the ones who have opened the can. If you haven't read the "Boom Or Bust" article from the Sydney Morning Herald, then you should. News LTD have had limited interest in this compared to Fairfax.