Staff and Players Not Payed

[cleary89]

Why didn't u f**k him off when he didn't pay up in Feb/March?

 

[_snafu_]

Due diligence at the time would have shown he was a billionaire. I don't think any due diligence would have predicted the arse falling out of the coal price. Granted Tinkler bought a lot of stupid things but if the coal price was at 2010 levels we wouldn't even have this thread.

Yeah, but he had form for not paying creditors. Also, he would have implemented a corporate structure to reduce his exposure. Perhaps that's why the bank guarantee was insisted upon.

 

[Noname36]

So if we are to start from scratch yet again anyone have any ideas as to what we should do? Anyone keen to start a thread on this subject. I won't cos I will just spit venom at the moment aimed in HSGs direction and I don' t want to bring anyone else down.

Who knows. I know some struggling soccer teams overseas have gotten back on their feet by selling shares in the club to fans and investors.

And yes, a qualified CEO to manage whatever we decide to do is an absolute must. If we manage to get out of this with anything we need to throw it at a good CEO. I agree the rest will take care of itself if we can put the right person in charge.

 

[Hello, I'm The Doctor]

My only suggestion is we employ a head kicking don't f### with me CEO. Someone who will put the club first and not be a muppet spokesperson for his employer. There are some great businessmen out there who could be willing. We need to find that person. The rest will take care of itself.

Ken Edwards always struck me as a good operator. I for one was sad to see him go...

Ill say with some certainty, Midley isnt the guy for the job.

 

[Haffa]

Alex as CEO please

 

[Swarzey]

We would have to be the hardest club in the NRL to support

Hey, I'm pretty sure most of us have witnessed our team win at least one grand final. As long as I can hold onto '97 and '01, It won't be as bad as supporting Sharks, Souths, Warriors or Cowboys :lol:

 

[The Showstopper]

Another great asset in a CEO or football operations manager is ability to sell your club. Gus Gould and his role at the Panthers has saved Penrith. He knows how to influence a deal and nor is he scared to send players packing. Even legends like Luke Lewis. Obviously the coach if and When Wayne leaves, is a massive choice to make but I feel we need the boss in charge to be very very assertive. We have never had that. I would back a person who backed their own choices as long as the club and supporters were foremost in their thoughts.

 

[slotmachine]

So if we are to start from scratch yet again anyone have any ideas as to what we should do? Anyone keen to start a thread on this subject. I won't cos I will just spit venom at the moment aimed in HSGs direction and I don' t want to bring anyone else down.

I can see a new company being incorporated very shortly, something like "The Knights of Newcastle RLFC" and it being given the NRL licence. Owned by the members (again).

HSG will be left with whatever debts and obligations they have managed to accrue and the creditors can get in line.

The new entity accesses the $10.5m guarantee and/or receives short term assistance from the NRL while it plays out in the courts.

Wests group take over administration of the club on a not-for-profit basis and inject some sorely needed professionalism.

 

[cram]

Read the statement from Palmer :?

http://www.theherald.com.au/story/2287594/knights-players-not-paid-nrl-slams-tinkler/?cs=303

 

[Noname36]

So essentially HSG is saying they're deliberately not paying people and won't do so until the ownership issues are sorted out? They won't put any money into the club until it's sorted. Are they playing hard ball to get the members club to fold, or do they see the writing on the wall and don't want to put anymore money into the club if they're not going to have control soon?

 

[aqua_duck]

Disgraceful

 

[cram]

So essentially HSG is saying they're deliberately not paying people and won't do so until the ownership issues are sorted out? They won't put any money into the club until it's sorted. Are they playing hard ball to get the members club to fold, or do they see the writing on the wall and don't want to put anymore money into the club if they're not going to have control soon?

All of the above.

 

[Sydney Knight]

I am at a loss as to why they need to be tipping in money this early in the season to meet wage Bills. The last 2 year's there have been $10M in sponsorship coming in ( including the HSG topup) plus the NRL grant and the fact knights aren't paying the coach why isn't there any money on the bank?

 

[The Showstopper]

I am at a loss as to why they need to be tipping in money this early in the season to meet wage Bills. The last 2 year's there have been $10M in sponsorship coming in ( including the HSG topup) plus the NRL grant and the fact knights aren't paying the coach why isn't there any money on the bank?

Exactly what the NRL want to know. It all sounds very dodgy to me . If he can get 70 million cash injection into his mine he can find money to pay his players. It is disgraceful. The statement from HSG was nauseating. I have a feeling the money paying them isn't Tinkler's by profit.

 

[jamaman]

Bennett will be taking offers!

 

[Bring it home Knights]

I am at a loss as to why they need to be tipping in money this early in the season to meet wage Bills. The last 2 year's there have been $10M in sponsorship coming in ( including the HSG topup) plus the NRL grant and the fact knights aren't paying the coach why isn't there any money on the bank?

That's a good question. The Crowds have been pretty piss weak for a while now, which wouldn't have helped.

 

[eozsmiles]

Exactly what the NRL want to know. It all sounds very dodgy to me . If he can get 70 million cash injection into his mine he can find money to pay his players. It is disgraceful. The statement from HSG was nauseating. I have a feeling the money paying them isn't Tinkler's by profit.

From reports, I am under the impression he borrowed the money, or at least the majority of it. Nobody is lending anybody money to pay for a pro sport team in Australia of all places. These lenders want a chance of a return.

And if we're frank, nobody can be surprised that the money he gets his hands on is tipped into a money making venture rather than a guaranteed loss.

 

[ShaiGuY]

What happened to the A$10m+ bank guarantee at March that was not renewed? There has to be some serious questions to management on why it allowed it to lapse without something in return. They should have called on the A$10m and then pissed Tinkler off then and it would have been a Westpac problem. I am not a Knights supporter but I would be asking why this was not done. From Tinkler's view - it seems like his end game was to ensure that the Knights let the guarantee lapse first and then piss off hence the timing.

 

[Chicken_Hunter]

Surely tinkler would not be able to use money coming in from the NRL to find other interests. Surely there are caveats on where that money is allowed to go?

 

[Nuffy]

Surely tinkler would not be able to use money coming in from the NRL to find other interests. Surely there are caveats on where that money is allowed to go?

I am sure that the grant money goes to the club directly but what I can envisage is that some of the staff are employed by HSG and I would assume that HSG haven't made good on a number of their financial obligations to the Knights but the club would have outgoings which they needed to pay irrespective of HSG's lack of support hence they have a cash flow problem and can't pay the players etc.

The time has come for everyone single person involved with the oversight of the Knights to stand down and a totally new group of people get involved with the management of the club because the members board, management and directors have failed miserably.

Matt Gidley for one should resign today because as CEO he has been utterly useless. We should have walked away from Tinkler the day he defaulted.

At least we know why the performance of the team is so poor, they aren't getting paid.