http://www.theherald.com.au/news/lo...xed-reception-for-alternate-view/2118095.aspx
Knights fight: Mixed reception for alternate view
BY JAMES GARDINER
30 Mar, 2011 04:00 AM
PATRONS Trust spokesman Andrew Poole received a mixed reception from a small but spirited crowd at a members information meeting at Newcastle Panthers last night.
About 60 members attended the session, which was low-key and informal compared with the 800-strong meeting held by the Tinkler Sports Group at the same venue on Monday, when the mining magnate outlined his privatisation proposal.
Sitting on a lone chair at the front of the stage, Mr Poole provided details of the Patrons Trust, which guarantees a minimum $1.5million for each of the next four years, and described keeping the club community-owned as the superior all-round offer.
Knights member and Patrons Trust advocate Stephen Barrett introduced Mr Poole, who gave a 20-minute presentation before taking questions from the floor for an hour.
In his delivery, Mr Poole, a multimillionaire Lake Macquarie businessman, produced a bank cheque for $1.5million, which he said would be presented to the Knights if the members voted against the Tinkler takeover at an extraordinary general meeting at Newcastle Entertainment Centre tomorrow night.
It is not a figment of anyones imagination, Mr Poole said.
The trust will provide the Knights with donations no strings attached to be spent on specific initiatives. It doesnt go into general revenue, it goes into a trust account at the start of the year and is drawn by the Knights for development, facilities and equipment.
We believe we dont need to sell our club to be viable and prosperous long term.
Endorsed by the Knights board, Nathan Tinklers offer guarantees to underwrite sponsorship of $10million for the 10 years, backed by a bank guarantee of $20million for the first two years and $10million for the following eight. Existing Knights debts, estimated at between $3.5million and $4.6million, would be cleared immediately.
Although committed to four years, Mr Poole was confident the trust would not be required beyond that term.
My projections and my understanding of where rugby league is going with new TV rights and new sponsorship, I dont think they will need it in two years time, he said.
But if at the end of the four-year period they still need the Patrons Im sure we will be there.
About 15 members, headed by supporters club chairman Jim Thornton, spoke in favour of the Patrons Trust.
The biggest query from the floor was why the other two trust members had remained anonymous.
Mr Poole made no apologies for their anonymity and said if it hurt the cause so be it.
An accountant by profession, Mr Poole questioned some of the figures the Tinkler Sports Group had raised regarding the clubs liabilities. For Mr Tinklers bid to be successful it must be approved by 75per cent of members who choose to vote.
