Andrew Poole offers 'no strings attached' donation to help Newcastle Knights after Nathan Tinkler pulls deal
* By Brent Read
* The Australian
* February 23, 2011 8:22AM
Local businessman Andrew Poole is ready to face the Newcastle Knights faithful and detail his plan for the club.
It involves Poole and like-minded Novocastrians tipping millions into the club over the next four years.
Unlike mining and racing magnate Nathan Tinkler, they want nothing in return. They don't want their money back. They don't want to own the club. They just want to help the Knights survive and thrive. Most importantly, they want the club to remain in the hands of the community.
As it stands, the proposal will result in the Knights receiving $6 million.
That figure could rise to $10m under a patrons trust plan where money merely provides assistance rather than ownership.
The money would then be directed towards junior development, community programs and other initiatives. In turn, that will free up money to spend on the football club.
"The Newcastle community has been very good to me over the years," Poole said.
"I am a rugby league tragic, that is the truth of the matter. I am passionate about the Knights being a community-based club rather than privatised.
"This model is an alternative to privatisation - they're not compatible. If the members choose to privatise, I respect their right to do that; the patrons trust model will disappear.
"If they choose not to, that is the status quo remains, the patrons are ready to go - to make donations to the club of a minimum of $6m over the next four years, leaving spots open up to $10m.
"The money we're proposing is a straight-out donation. There are no strings attached, no necessity for the club to repay the money at the end of it."
Poole and Newcastle chief executive Steve Burraston have been discussing the patrons trust concept since last year. Poole, a director of mining services company Resco and NSW baseball, grew up a St George fan but was at the Knights' inaugural game in 1988 and has a sponsor's box at EnergyAustralia Stadium.
"It is my most vehement commitment that a community-based club suits Newcastle, not a privately owned club," Poole said.
"This is all about what can we do to make sure the club is viable? And how do we keep the club owned by the members for the members? It has two simple objectives: one is to keep the Knights community-owned. The Knights will be owned by the members as it is now. The second is to ensure the financial viability of the Knights into the future.
"There are no strings attached. They are straight out donations that go on top of the Knights' revenue streams. This doesn't water down any revenue stream at all.
"The way the club is trading this will ensure the prosperity and viability of the club long into the future. It will be reviewed at the end of four years. I am hoping by then we get stampeded in the rush. This is an initial commitment for four years. My discussion with the other patrons is we're here for the long run."
Poole will take his case to the members at a meeting on Monday. It won't be easy. Tinkler's bid to buy the Knights, which was taken off the table on Monday, has whipped supporters into a frenzy.
"I intend looking the members in the eye and answering questions I have to answer," Poole said.
"The Knights are fully-funded now and a profitable club. This is over and above to make sure the Knights take the extra step on and off the field."
