Ex-players first on list for Tinkler's sales pitch
BY JAMES GARDINER
10 Mar, 2011 01:00 AM
MINING magnate and would-be Knights owner Nathan Tinkler loves talking footy, and tonight he will have the perfect audience.
Tinkler will meet with the Once-A-Knight Old Boys Club to outline his proposal to privatise the club and the plans to make it an NRL powerhouse.
The session with the old boys is one of several Tinkler will host before his bid to buy the Knights is put to a members' vote at a meeting on March 31.
"It is an opportunity for the ex-players to meet Nathan face to face," said Tinkler Sport Group executive chairman Ken Edwards, who will also address the club members.
"It is appropriate that the Knights Old Boys, having contributed so much to the club, is the first group to sit down with Nathan and have him clearly outline the proposal and its benefits for members."
Several former players, headed by premiership-winning captain Paul Harragon, have been enlisted as ambassadors for the Tinkler proposal and will appear in a series of advertisements to be aired over the next three weeks.
"We have been overwhelmed with the support from the old boys," Edwards said.
"Michael Hagan, Paul Harragon, Mark Sargent, Tony Butterfield and Mal Reilly are just some of the former players and coaches who have contacted TSG to offer their support publicly.
"The most important aspect of tomorrow night and the future public meetings is that TSG has the opportunity to present the proposal and offer clarity to members before they vote.
"As Nathan has stated, he is passionate about the Knights and his offer is fair dinkum. He simply wants all members to understand all the benefits that will come from the offer."
Tinkler needs at least 75 per cent of up to 3000 members to vote in favour of his takeover at the meeting.
Backed by a $20 million bank guarantee for the first two years of the deal, and a $10 million guarantee for the following eight years, Tinkler's offer guarantees $10 million in annual sponsorship revenue for the next 10 years.
Maintaining the Knights as a not-for-profit entity and protecting the club's name, colours, location and home ground in a "heritage share", the deal includes clearing their accumulated losses by up to $3.5 million, injecting $2.5 million a year into junior development and guaranteeing members' buy-back rights in the unlikely event of Tinkler becoming insolvent.
