Tinkler weighs in with $100m Knights offer

[BunniesMan]

Wish some rich businessman would help my club

The club generally has to ask first, like the knights have, and then the offers come in. If the Sharks were to ask for privatisation bids, some strong ones could come out.

 

[the1]

Email just sent to the Knights members..
Statement from Knights Board

Tonight amongst other matters, the Board of the Newcastle Knights has considered two funding proposals.
A funded Patron’s Trust model which comprised of a commitment of funding over 5 years and the revised Tinkler Group offer.
The Tinkler Group offer is a 10 million dollar per annum guaranteed sponsorship for 10 years and is a significantly higher financial commitment than the previous Tinkler Group offer and is a superior offer to the patron’s trust model.
As a consequence – tonight the Board of the Newcastle Knights have agreed in principal, to the revised Tinkler Group offer subject to further negotiations on detailed matters which will form part of an anticipated completed agreement.
The Board of the Knights agree to make all reasonable endeavours to reach agreement on the detail and present the proposed agreement to the members for their determination in March 2011.
There are a number of details which require further clarification but we are optimistic we can reach a commercially realistic outcome.
The Board has agreed to the Chairman and Chief Executive, meeting with representatives of the Tinkler Group to further negotiations in order to reach agreement.
This is a critical matter for the Knights and it is most important that we give it appropriate consideration and take the time necessary to ensure the best outcome for our members, sponsors, staff, players and other important stake holders.

 

[Bro Bear]

Good to see the Knights have some common sense. Can't whinge about the CC Bears in "their backyard" now.

 

[AlwaysGreen]

this year brother, the rest of you f**ks haven't a chance.

You're a bandwagonner for sure.

 

[AlwaysGreen]

This can only be good for Newcastle and the game. If the Knights do this and get financially strong along with their juniors and phenomonal home support then they have the potential to be an absolutely huge club.

 

[franklin2323]

^^ Exactly. The comp needs 16 viable strong clubs. This shores up Newcastle. Hopefully the Sharks DA gets approved this year & we have all strong clubs.

 

[macavity]

Can't whinge about the CC Bears in "their backyard" now.

Sure we can.

 

[Doug2234]

Wish some rich businessman would help my club

Like last time?????

 

[_Johnsy]

Tinkler isn't paying 100 million.

Knights board approves $100m buyout

http://www.bigpondsport.com/knights-board-approves-100m-buyout/tabid/91/newsid/66361/default.aspx


The Newcastle Knights board has given in-principal approval of Nathan Tinkler's $100m buyout offer. The Newcastle Knights board have cleared the way for a proposed $100 million takeover by mining magnate Nathan Tinkler, giving an in-principal approval of the plan. Tinkler has offered to guarantee the club $10m a year for the next 10 years.

Well it appears that he is forking over $100 million over a 10 year period. I am not in a position to know the exact details of the "buyout".

 

[perverse]

Well it appears that he is forking over $100 million over a 10 year period. I am not in a position to know the exact details of the "buyout".

it is false reporting. the deal is to guarentee $10mill a year in sponsorship and corporate hospitality. when that figure is not reached, the money comes out of Tinklers pocket. we currently earn about $6.5-7mill per annum in sponsorship. if he can walk in and find another $3mill in sponsors, then the only money he'll have to pay is the $4mill debt we're in and whatever sponsorship shortfall there is until he reaches the $10mill.

the only possible way he could pay $100mill over 10 years would be if he injects capital above his limited liability, which could happen, or if he walks in the door first day, removes every single sponsor the club has and puts his rotund head on our jersey for the next 10 years.

 

[_Johnsy]

it is false reporting. the deal is to guarentee $10mill a year in sponsorship and corporate hospitality. when that figure is not reached, the money comes out of Tinklers pocket. we currently earn about $6.5-7mill per annum in sponsorship. if he can walk in and find another $3mill in sponsors, then the only money he'll have to pay is the $4mill debt we're in and whatever sponsorship shortfall there is until he reaches the $10mill.

the only possible way he could pay $100mill over 10 years would be if he injects capital above his limited liability, which could happen, or if he walks in the door first day, removes every single sponsor the club has and puts his rotund head on our jersey for the next 10 years.

cheers peverse

 

[perverse]

cheers peverse

np, trying to get the facts out there amongst the hysteria.

it's still a very good deal from Tinkler, if he can walk in and find another $3mill in sponsorship then who's to say he shouldn't own the club anyway? lol.

 

[Alex28]

it is false reporting. the deal is to guarentee $10mill a year in sponsorship and corporate hospitality. when that figure is not reached, the money comes out of Tinklers pocket. we currently earn about $6.5-7mill per annum in sponsorship. if he can walk in and find another $3mill in sponsors, then the only money he'll have to pay is the $4mill debt we're in and whatever sponsorship shortfall there is until he reaches the $10mill.

the only possible way he could pay $100mill over 10 years would be if he injects capital above his limited liability, which could happen, or if he walks in the door first day, removes every single sponsor the club has and puts his rotund head on our jersey for the next 10 years.

What I really hope he does is phase some existing sponsors out to being "third party sponsors" so we can do some Souths/Brisbane like deals and ignore the principals of the salary cap!

Has all the prospects of being fantastic for the Knights

 

[macavity]

What I really hope he does is phase some existing sponsors out to being "third party sponsors" so we can do some Souths/Brisbane like deals and ignore the principals of the salary cap!

Has all the prospects of being fantastic for the Knights

Yup, the day we become the richest club in the comp we should join all those Broncos, Easts and Melbourne fans and start lobbying to scrap the cap.... :sarcasm:

Rusty is gunna have to wear tights till he is 60 to match what our bloke digs out of the ground....

 

[perverse]

What I really hope he does is phase some existing sponsors out to being "third party sponsors" so we can do some Souths/Brisbane like deals and ignore the principals of the salary cap!

Has all the prospects of being fantastic for the Knights

personally, i hate the "third party sponsorship" salary cap laws - and hope they are rectified. they are stupidly exploitable - and are no doubt being exploited by every club in the NRL to some extent, including our own. they defeat one of what i see to be the 2 primary purposes of the salary cap - to even out the playing talent (the other being to stop clubs spending themselves into oblivion).

i know the alarmist brigade will pipe up about how the ESL, rugby, AFL and the rest of those gumbies will poach too many of our players if we can't let third parties pay stupid amounts to our stars. to them i say nay, bollocks - and even if that were to happen we still have a production line that just keeps pumping out new freaks to watch.

but really, this is all a debate for when the salary cap inevitably comes under scrutiny this year, not for this thread.

 

[Alex28]

I mean...If Tinky wants to really exploit the laws and doesn't mind putting more of his cash in, then it would be nothing to get say $1 Million in sponsors to move to being thrid party sponsors, then channel that $1 Million towards third party player payments. Then all of a sudden we have an extra Million to go chasing the top tier players in the comp.

Doesn't have to be a Million. Could be $2 Million. Whatever it takes.

We have been screwed by this system long enough and the 2011 recruiting suggests that (look at the players we missed out on). Time to benefit from it

 

[Bman26]

it is false reporting. the deal is to guarentee $10mill a year in sponsorship and corporate hospitality. when that figure is not reached, the money comes out of Tinklers pocket. we currently earn about $6.5-7mill per annum in sponsorship. if he can walk in and find another $3mill in sponsors, then the only money he'll have to pay is the $4mill debt we're in and whatever sponsorship shortfall there is until he reaches the $10mill.

the only possible way he could pay $100mill over 10 years would be if he injects capital above his limited liability, which could happen, or if he walks in the door first day, removes every single sponsor the club has and puts his rotund head on our jersey for the next 10 years.

I'm with you, great idea, in fact why stop at his head, full frontal nude.

 

[applesauce]

I'm with you, great idea, in fact why stop at his head, full frontal nude.

Geez mate, the players will be running around in bedsheets. Hardly going to help them to win games...