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Tinkler releases control of Knights

Discussion in 'Rugby League Forum' started by ManlyArmy, May 23, 2014.

  1. ManlyArmy

    ManlyArmy Well-Known Member 2016 Tipping Competitor

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    The statement says:

    Tinkler Group Chairman Nathan Tinkler has confirmed the Hunter Sports Group will have no further role in the Newcastle Knights and has called for immediate action to ensure a speedy transition to a new ownership model.

    “This negotiation has dragged on for over 10 weeks and it is clear the Members Club has stalled the process,” Mr Tinkler said.

    “After injecting over $20 million of my own money it is time to stand aside, and hopefully the Knights will prosper and not revert to the old management style and formula that almost sent the club into liquidation 3 years ago.

    “Since HSG took over the Knights, we have lifted the annual spend of football operations to be over $3 million above the average NRL club.

    “Commercial reality will mean staffing numbers will now need to be reviewed, grants cut to the junior League programmes and the local Newcastle competition.

    “I have done my bit for the town by investing more than $20 million and saving the Knights from liquidation and now it is time for someone else to step up to the plate,” he added.

    Mr Tinkler emphasised the reports in the media of a Club debt of $20 million have been exaggerated and mischievously reported.

    “Any figure like this could only include money I have put onto the Club. The debts of the Club are substantially less than the $10.5 million, which is currently sitting in a bank account and not earning interest,” he said.

    It is also the belief of HSG, the NRL and independent legal opinion, the original agreement does not provide for the Members Club to purchase the Knights back for $1 and receive the bank guarantee, despite being continually leaked to the media by interested parties.

    “If this is the case, why hasn’t the Members Club stepped in, instead of resorting to the protracted negotiations,” Mr Tinkler said.

    “We are determined to do everything to make it a smooth transition, but we require all accounts to be settled before leaving the Club — then it will be up to others to take the Club forward.

    “Once all liabilities are paid there will be adequate cash flow available to support the new owners,” he added.

    Mr Tinkler remains positive about the future for the Knights.

    “Through our investment in junior development, our 20s are on top of the table, the Harold Matthews team won the National Title and SG Ball made it to the finals,” he said.

    “Over the past 3 years we have also provided every opportunity for the Knights NRL team and coaching staff and I’m sure this will pay-off down the line.

    “On a personal level, the most inspirational moment of the past three years was last week when I visited Alex McKinnon in hospital and saw what the true Newcastle spirit was all about.

    “I want a successful Knights Club, which generates pride for the whole Hunter, but I cannot understand why the local press simply want to criticise the Club, its players and attempt to bring down everything that is great about Newcastle and the Knights.

    “If people don’t put self interest in front of what is best for the Knights, the future is extremely bright.

    “The Club is in a far better position than it was when HSG took over, with the Club then drowning in $7 million of debt, inadequate administration facilities and no formal training facility,” Mr Tinkler concluded.

    The Hunter Sports Group wish to emphasise its hope is that negotiations can conclude quickly and the NRL will support the Knights, if needed, during this transitional period.

    The Club and Mr Tinkler will make no further comment.
     
  2. HappilyManly

    HappilyManly MWTS Premium Member 2016 Tipping Competitor

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    .. “We are determined to do everything to make it a smooth transition, but we require all accounts to be settled before leaving the Club — then it will be up to others to take the Club forward..."

    Not sounding good for the Knights at all :s
     
  3. The Wheel

    The Wheel Well-Known Member

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    Good Knight by the sound of things
     
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  4. Shoe1

    Shoe1 Well-Known Member

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    Can any of that statement be trusted?

    If it is true that HSG has spent $3M more per annum than other NRL clubs then it shows they have wasted their money.

    Sounds like he will fight over the $1 buyback and $10M bank guarantee too.

    The Knights members should have listened to Rob Tew 3 years ago.

    Classy to bring Alex McKinnon into it.
     
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  5. HappilyManly

    HappilyManly MWTS Premium Member 2016 Tipping Competitor

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    Apparently Bennett is now a free agent as he was directly contracted to HSG :cool:

    Maybe Singo will step in as its turning into a bloodbath :s
     
  6. RiverEagle

    RiverEagle New Member

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    That statement from Tinkler is just standard corporate speak, with self-service as the bottom-line.

    Perhaps he has done a fair bit for Newcastle... The timing and manner of his departure is significant.

    Too many intelligent and trustworthy people are unhappy with Tinkler for it to be ''bad mail''.

    Ultimately it's probably best for all that he goes.

    And it will be interesting to see if Bennett stands by the Noughts, or bails back to Brisbane next year too.
     
  7. The Wheel

    The Wheel Well-Known Member

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    Gee Max Delmege got value - spent half of what tinkler did and got 2 more premierships
     
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  8. damiennp90

    damiennp90 Well-Known Member

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    Shows what a good Job Max and Penn have done. Our club is now making money, and soo many clubs leaking money. I know it's mean to say but
    I think it was an advantage that our leagues club stopped giving us money well before other clubs. Now where ahead of them. Though well always be a club that
    Has to struggle. Unlike the broncos and bulldogs.
     
  9. Hamster Huey

    Hamster Huey Space Invader Premium Member

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    I really hope that the steps Tew took pay dividends. He was shouted down by the majority of members, and vocal Tinkler-backers but he at least ensured that Tinkler put real money into the deal. That Tinkler now suggests the $1 transaction and $10mil guarantee is worthless, will be an interesting development.
     
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  10. Jerry1

    Jerry1 Well-Known Member

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    Bennett ti Canberra lol
     
  11. ALinda

    ALinda Well-Known Member 2016 Tipping Competitor

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    Tinkler, the Knights' saviour, sounds like and reminds me of Max Delmege, our saviour, but at over twice the cost for very little reward.
     
  12. manlyfan76

    manlyfan76 Parra Trolls are the best. Premium Member 2016 Tipping Competitor

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  13. Shoe1

    Shoe1 Well-Known Member

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    That's a bit harsh, I don't think max was corrupt, and when he came across hard times in business he didn't bugger the club or team around.
     
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  14. lovefooty

    lovefooty Well-Known Member

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    We should be thanking the members of thefootball club board for maintaining there are multiple owners. Our eggs are not just in one basket . (Like Newcastle )
    They (0ur board) might not all get along all the time but we have the best model for a NRL club.
    We win comps . The owners don't need to put money in any more(thanks to Perry) and we have been in every final series since 2005.
    Forget the odd blow up at board level, it's worth it at the end of the day ,or should I say season.
     
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  15. Alan

    Alan Well-Known Member

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    take your point river, but bennett had 20 years with Bronco's and 3 with Newc. Qld is where the heart is.

    He has never broken a contract, and even if he is contracted to a 3rd party, I believe he will "feel" that the spirit of his contract is with Newc and honour his deal.

    I Think every club other than Manly will be after him. Storm, Bronco's and Canberra would all be 3/1 on.
     
  16. RiverEagle

    RiverEagle New Member

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    You may be right there @Alan

    I think even Bennett would admit his tenure at the Knights hasn't been a success yet... Certainly by his lofty standards mate.

    I have no problem with him going home to Brissie; I was just assuming he had a year to go there and wondering if he'd stay, try to get success there next year, or finally cut his losses.

    I'd actually be surprised, at Wayne's age, if he went and coached somewhere new, rather than going home...Maybe to the Bronx again.

    Many would say he's earned his retirement.
     
  17. RiverEagle

    RiverEagle New Member

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    You may be right there @Alan

    I think even Bennett would admit his tenure at the Knights hasn't been a success yet... Certainly by his lofty standards mate.

    I have no problem with him going home to Brissie; I was just assuming he had a year to go there and wondering if he'd stay, try to get success there next year, or finally cut his losses.

    I'd actually be surprised, at Wayne's age, if he went and coached somewhere new, rather than going home...Maybe to the Bronx again.

    Many would say he's earned his retirement.
     
  18. HappilyManly

    HappilyManly MWTS Premium Member 2016 Tipping Competitor

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    K Walters is being mooted as the next Broncos Coach, with Bennett as the GM. Similar to Gould and Cleary.

    Bennett has the emotional dilema of supporting Alex, so he will probably see out 2015. Again, in a mentoring role to the next Knights Coach.
     
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  19. RiverEagle

    RiverEagle New Member

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    That sounds like not only a plausible succession plan for the Bronx, but a good fit for all concerned.

    Why Anthony Griffin has retained power, and support, up there this long is simply beyond me.

    Andrew Gee is on the outer, primarily with Griffin it's said...And he's a legend there, just like Kevvie and Wayne, of course.

    Will be interesting, HM.
     
  20. ALinda

    ALinda Well-Known Member 2016 Tipping Competitor

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    This is what I was referring to in comparing Tinkler to Delmege.
    [hr]
    Sorry @Shoe1, I think you misunderstood me. I didn't for a second think or suggest Max is corrupt - quite the opposite actually! I was merely commenting that this statement by Tinkler reminds me of Max, as in being OUR saviour. However, it cost Tinkler a whole lot more for whole lot less rewards.
     

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