Tinkler deal with Knights off

[Mansharkie]

It has just been announced on 2GB & SMH that Tinkler is fed up with the Knights board & the deals is cancelled.

means no offer for Kade, yee haa, suck it up Knights.

 

[Special K]

Lmao... It never made sense to me a guy worth 600 mill ony would be prepared to pay 100 mill... That's a huge hit to his pocket even if it is a right off given nearly all nrl teams leak money.

 

[Bastard Squad]

Nathan Tinkler withdraws Knights offer

Brett Keeble
February 21, 2011 - 12:23PM

Sporting and mining magnate Nathan Tinkler has withdrawn his $100 million takeover bid for the Newcastle Knights and said he would have no further dealings with the rugby league club under the current management.

Tinkler and the Tinkler Sports Group management team were due to meet Knights chief executive Steve Burraston and chairman Rob Tew at 2pm today to resolve their differences.

However, a furious and frustrated Tinkler told The Newcastle Herald that the meeting has been cancelled and his offer withdrawn.

Fed up with what he perceived to be procrastination by Knights management since they rejected his initial $10 million proposal three months ago, which he upgraded on January 17 to up to $100 million for the next 10 years, Tinkler said he had done all he could but had had enough.

Burraston and Tew have called a media conference at 2.30pm today.

The Newcastle Herald

http://www.smh.com.au/rugby-league/...r-withdraws-knights-offer-20110221-1b1r8.html

 

[Dragon Slayer]

It has just been announced on 2GB & SMH that Tinkler is fed up with the Knights board & the deals is cancelled.

means no offer for Kade, yee haa, suck it up Knights.

Suck it up to all those arrogant Newcastle fans that came here prancing around like little ballerinas at the nutcracker!

Tinkerbell is obviously quite precious fickle type of bloke.

Move onto your next plaything eh?

 

[blacktip-reefy]

Look at Dragon Slayer prancing around like he has has some kind of victory.
There is no cancelled deal, merely a negotiation pause. He will own the Knights.

 

[blacktip-reefy]

Lmao... It never made sense to me a guy worth 600 mill ony would be prepared to pay 100 mill... That's a huge hit to his pocket even if it is a right off given nearly all nrl teams leak money.

Its not $100 million.
He has guaranteed the knights make $100 million
That guarantee comes from TV rights, sponsorship, corporate sales & merch.
So outlay to him is only about 1- 1.5 million pere year IF he doesn't get extra sponsorship, which he will, because of who he is.
So probably, he is getting the club for free. So it made sense that hte board knocked it back the first time & suddenly he found more money, which he will again.

 

[Ausguy]

Righto... enough of that DS

you are only as good as them if you rant on like that DS...

we are not out of our own woods yet mate

lets tidy up our backyard first

 

[Dragon Slayer]

Righto... enough of that DS

you are only as good as them if you rant on like that DS...

we are not out of our own woods yet mate

lets tidy up our backyard first

Aus, yeah I know.

But geezus weren't they cocky little shytes when it was game on.

We should be sweet with our re signing of Snowden and Dougie now.

 

[webShark]

Its not $100 million.
He has guaranteed the knights make $100 million
That guarantee comes from TV rights, sponsorship, corporate sales & merch.
So outlay to him is only about 1- 1.5 million pere year IF he doesn't get extra sponsorship, which he will, because of who he is.
So probably, he is getting the club for free. So it made sense that hte board knocked it back the first time & suddenly he found more money, which he will again.

btf,you seem well versed on the situation. Are we right to assume the Snowden deal is off. Surely the Sharks can exert some pressure on him to sign or is Tinkler likely to come back in time to snare Snowy?

 

[Plastered]

Anyone stuck their heads in the Knights forum? I would imagine it will be chaos. As soon as the current management goes, which might not be too long if the fans are pyssed, then Tinkler will be in like Flynn.

Guess now we'll find out if Sprinkler was the 3rd party.

 

[PJ]

I agree with Blacky. A negotiating tactic or using it to get members to push for an AGM where he gets a board that will do what he wants. Won't surprise me at all to see Knights fans falling overthemselves trying to give the club to Tinkler.

Blacky is also correct in that the original deal, and the updates one are great for Tinkler and imo the KNights board are correct in asking for more.

Watching the way that Tinkler has gone about things I would be very concerned about having him own a club. I am sure there is rorting of the cap now but I think this guy will take it to an all new level.

I wouldn't get excited about Snowy either. The fat bastard would have been on the phone to him and telling him it is all part of the plan.

 

[TooheysNew]

I would imagine it will be chaos.

Not really. The ones who've actually read the proposal know what's going on.

 

[ratsack2]

Tinkler will now be free to make as many 3rd party deals as he wants

 

[Quigs]

Where's my bloody sig?

 

[TooheysNew]

Same place it's been for a while now champ.

 

[The Masked Avenger]

Does Tinkerbell want in on a great development deal???? If so we may be able to help him out and his offer to Kade can stand.

 

[Plastered]

Not really. The ones who've actually read the proposal know what's going on.

So happy Jan or not happy Jan?

 

[blacktip-reefy]

btf,you seem well versed on the situation. Are we right to assume the Snowden deal is off. Surely the Sharks can exert some pressure on him to sign or is Tinkler likely to come back in time to snare Snowy?

Its a good result for the Sharks becasue they can now say to Snowys manager that if we dont sign snowy we will sign somebody else. snowy will get signed by somebody , for sure, but probably for NORMAL market value, not overs. say $350kX3 min Now if Snowy gets the same or a little less from Melbourne, why would he want to leave the Sharks?
BUT, don't under estimate Tinkler. He is a very smart, arrogant, powerful man. The NRL would be shaking in their boots quite frankly because there is nothing they can do t o stop him from circumventing the cap.

 

[blacktip-reefy]

Also I would imagine that the knights would have a similar constitution as ours, so the members could call an EGM to oust the board.
I cant remember what numbers our club needs to cause an EGM but its not high. I once thought it was 51% of the membership but its perhaps as low as 50 votes?
Anybody know?

 

[ratsack2]

But btr I thought you said 350k was way unders for snowman

from my understanding and it's limited if Tinkler is not a sponsor of Newcastle then he could be out there offering any player say 1mil to sign fir newcastle and it wouldn't effect their cap
please correct me if I'm wrong