Tinkler on Four Corners

[Yosh]

Anyone catch this on the tele? Apparently 'all nervous Knights must watch' or something...

 

[El Diablo]

Anyone catch this on the tele? Apparently 'all nervous Knights must watch' or something...

http://www.abc.net.au/4corners/stories/2013/07/25/3810937.htm

 

[johnnoparra]

The Knights are safe. It's the Jets that will again be on life support, soon enough.

Anyway, Tinkler isn't the nicest bloke, but that's an attribute of all the big boys.

 

[kmav23]

" OMG i see food"

 

[Yosh]

Ah thanks bro!

 

[Alex28]

Nothing on it new. He took some punts - some paid off, some didn't. Carry on...

 

[Frederick]

How many angry tradies did they interview?

 

[Yosh]

Obviously they went out of their way to make him look like a prick but it was pretty convincing.

Just back on his deal with us. I thought he was supposed to pay us 10 million every year for 10 years or something? Is that gone?

 

[rnb11]

it's a guaranteed 10 million a year in sponsorship, so if we make 6.5 million from our sponsors a year he will top up the 3.5 million. plus he pays for wayne and puts in 2.5 million for junior development and half a mil for just the running of the club.

the club confirmed a while ago that he met all of the requirements of the deal last year including paying our 4 million worth of debt and he is on top of it all again this year. if he fails to pay anything the club goes back to the members and we get a 10 mil payout from him.

 

[Yosh]

it's a guaranteed 10 million a year in sponsorship, so if we make 6.5 million from our sponsors a year he will top up the 3.5 million. plus he pays for wayne and puts in 2.5 million for junior development and half a mil for just the running of the club.

the club confirmed a while ago that he met all of the requirements of the deal last year including paying our 4 million worth of debt and he is on top of it all again this year. if he fails to pay anything the club goes back to the members and we get a 10 mil payout from him.

By the looks of it, he's only worth like 230 million or something now... Is he really gonna put half his worth into the club? If he goes bankrupt, how do we get the money?

 

[rnb11]

yeah that's the biggest worry but we will just have to wait and see.

before he took over he was forced to put the 20 million into an account that he can't access as it was part of the deal. after the first year he got half of it back and that other 10 million is still there as assurance to us that we will get it if he fails to meet all his requirements. the moment he doesn't assure the money promised the club goes straight to the members party and can get the secured 10 mil.

that was the one of the biggest things the board and tinkler were fighting over in 2011.

 

[The Showstopper]

I believe if one day Tinkler sells up then we will be ok. I also would not write him off. We are debt free. It is something we have never been until 2011. Clean slate. Get investors. No more poor house. We play to our budget. If we are smart we will never be in debt again.

 

[kmav23]

Tinkler is finished... No one is going o lend him money or do business with him.

Creating $1 self companies and then not paying debts and bills of little guys.

 

[Alex28]

You seriously have no idea about how things work in the real world kmav. IF (and it is a very big if) he is worth $230 Million (that is net of debt), then people will still lend to him depending on security and terms. There will always be lenders of last resort who will lend to anybody at the right price.

I don't see how he is worth $230 Million. It would all depend on what he values certain assets at. His assessment would be vastly different to other peoples assessment.

As far as the club is concerned, it is in our best interest that he goes broke, we buy the club back for a dollar and cash in the Bank Guarantee.

 

[Nuffy]

Alex, no point arguing with Kmav, he's an idiot.

On the 4 Corners show two things were plainly apparent.

1 - The guy is clever, he identified undervalued assets and parlayed that into two sizable windfalls. Thats not luck.

2 - As clever as he is, he is also an idiot, assuming the information in the segment was reasonably accurate regarding his finances, he has pi$$ed away north of 6 or 7 hundred million dollars. Unf*cking believable that he didn't take a breath and consolidate.

What does it mean for the club, nothing really. If he goes broke we get it back for nothing and 10 million bucks.

If he has squirrelled big chucks away he might be back in the future.

Who knows.

 

[Alex28]

Spot on Nuffy. On one hand the guy is smart. You don't turn $1 Million into $1 Billion being an idiot. He knew what he was doing with coal assets.

On the other hand he is a moron for a number of reasons - spending money on money pits, not seeing the crash of the coal sector coming, throwing away more money once the arse fell out of the coal sector, borrowing money at 17% relying on the share price of a coal company increasing when the sector was in decline...

Coal will recover, and I bet he will be there and make money once again. Hopefully he learnt some lessons...

 

[The Showstopper]

Bottom line is Tinkler delivered for this club. He owes us nothing. We are an asset in his portfolio. Anything else to the contrary is bullshit. An asset which is ours again for a dollar plus ten million if he bails. Add NRL handouts we would only have ourselves to blame if we go into debt again with or without Tinkler. His business dealings are none of our concern. Tew is a genius in my view. He saw this coming based on Tinkler's high risk business framework.

 

[God-King Dean]

Nathan Tinkler is overweight.

 

[Frederick]

God-King Dean is ugly

 

[SpaceMonkey]

Tew is a genius in my view. He saw this coming based on Tinkler's high risk business framework.

That's what it boils down to. By playing hardball with Tinkler and demanding he bank guarantee he pretty much made it a risk-free proposition for the Knights. You guys have a lot to thank Tew for there, I'd be naming a grandstand after him or something.