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Is all not well in Tinkler Town.

southsport

southsport

The good news is that even if Tinkler goes under, the knights should be in a much better position than they were before he arrived. 
knitey

knitey

Correct, at least in the short term. 
knitey

knitey

If you want the facts..(not dramatic media hysteria), watch this .

http://bit.ly/W9Dkdr

Good video 
bandwagon

bandwagon

Well researched, but as said , 400Mil of assets, 600mil of debt. This is what is most concerning. 
Maximus89

Maximus89

From the Rothfield article


Bennett is contracted to HSG, not the Knights, so they don't have to pay him a single cent of that $1 million. Rothfield should do some research before he comes out with more of his garbage. 
saints

saints

Said this in the other thread - but relevant here too ...
 
knitey

knitey

Nice to see that posters from our feeder club are taking an interest, but never fear, the Knights will remain a competitive club in the comp....unlike some who have had to merge and are now slipping into mediocrity and decay with their fans reduced to examining every minor hiccup at the Knights to salve their esteem in their own club.:D 
knitey

knitey

Tinks is reported to have sold Patinack farm and his top colt All Too Hard for 30 mill.

http://www.theherald.com.au/story/1187741/hard-bargain-tinkler-sells-star-colt-in-30-million-stud-deal/?cs=306 http://www.theherald.com.au/story/11...d-deal/?cs=306

Should get him out of trouble for a week or two.Sounds like he has given Gerry Harvey some of the Jewells from his racing business in exchange for the cash he needs at the moment. 
knitey

knitey

Nathan Tinkler will hand over his NRL licence tomorrow & all control to the Knights members club board. On nrl gossip.... 
knitey

knitey

The Bennett interview: Why I trust Nathan Tinkler

http://resources0.news.com.au/images/2012/12/14/1226537/183032-bennett.jpg
Wayne Bennett says the Dragons offered him more money than anyone, before he joined the Knights.

WAYNE Bennett has not lost his sense of humour despite Nathan Tinkler's financial crisis.

He returns a phone call yesterday but says: "You ring me back. I don't know if we can pay my phone bill."

In his first interview about Tinkler's struggling business empire, the seven-time premiership-winning coach insists the Knights players remain in good spirit and club morale is unaffected.

He also reveals the embattled businessman has considered selling out of Newcastle and returning the Knights to the members.

Phil Rothfield: If Nathan has to get out and the club reverts to its previous ownership model, could they still afford your salary?

Wayne Bennett: (Laughs) Well I'm going to tell you something that might surprise you. The best offer I got when I was tossing up leaving the Dragons was from the Dragons. Whichever one I'd taken I was going to be well paid. This job's not about the money. We might be doing it a bit tough but I'm not going anywhere.

I signed up for four years and the commitment is to stay for four years. I don't want a reputation that when things get tough you walk away and let someone else do the dirty work.

As long as the Knights have got a footy club, I'll fulfil my part of the agreement.

PR: So can you still envisage a premiership in the next few years despite all this drama?

WB: Premierships are something the fans wish for. There's a lot of work to be done and a lot of things have got to fall into place. You can't just sit here and wishfully think you're going to get one. There's no reason why we can't, that's for sure.

As I've said, the club is very stable as far as the players and coaching staff is concerned.

There's no drama about our future as a footy team. That's the important thing to me. We're on top of the things that are within our control. We're going to be OK.

PR: Wayne, what's going on in Newcastle? Has Tinkler gone bust? What's really happening?

WB: I think he's far from broke. Obviously it's a difficult time for him but we're all confident he'll pull through it.

PR: Do you know something we don't know?

WB: Obviously I'm a lot closer to it than a lot of other people. I know he's rich in assets but he's got cash flow problems.

PR: So you guys are still getting paid on time?

WB: From the Knights' point of view, yes we are. There hasn't been an issue at all. No one is in fear about all this. Our situation is different to the Jets because of what was put in place when Nathan bought the Knights.

PR: Are you serious that there's no fear among the players when the owner is in the paper every day for not paying his bills?

WB: The players don't even talk about it. I've never heard them mentioning it. They've got a job to do and they come to work every day and do it. As long as their salaries are paid on time, it's not an issue for them.

PR: Do you want Nathan to stay involved? He's bringing a lot of negative publicity to the place.

WB: Absolutely. That's a discussion we've obviously had. It was unanimous that he stays. He's done some wonderful things here.

The things we have got since he arrived are making a real difference going forward. His support for us has been nothing short of outstanding.

You've got to realise he guaranteed this club $20 million if something should go wrong. It's there now and hasn't been touched.

Everything we've done in membership, corporates and ticketing has gone up because of his involvement. Membership has gone from 4500 to 19,000.

He's been extremely supportive. In the worst-case scenario if the club went back to the members, it would be debt free. So you can see why there's no fear here.

TINKLER

http://resources3.news.com.au/images/2012/12/14/1226537/183019-tinkler.jpg
Embattled businessman Nathan Tinkler.

PR: Do you really think everyone's on side?

WB: We had a meeting the other day with the membership board and it was very amicable. Everyone is working on the same page.

PR: When was the last time you spoke to Nathan?

WB: About a month ago.

PR: Did you say he had indicated he would get out if he had to?

WB: Nathan doesn't want to stay one minute longer than he feels he should. He doesn't want to be seen as the reason why we're not going forward to be the club we want to be. He's expressed that to us on more than one occasion but that's not the situation we want.

PR: So he has offered to get out?

WB: It was a discussion. He mentioned if he couldn't assist any more, what would the future be. It was that type of conversation.

PR: You'd have a feel for the town. Are the people and the fans happy and on board?

WB: One of the reasons I'm talking to you and supporting Nathan is the fact I want our fans and all rugby league supporters to know that we don't have a lot of fear here. We'll fulfil our commitments for 2013 and beyond that.

PR: Do you still feel as confident about your goals as when you first met Nathan in his office to sign on.

WB: Yeah, I do. I wouldn't be here at the Knights if it wasn't for Nathan. The paper's not big enough to tell you about all the good things that have been done. Our great new training centre came about because Nathan wanted to give kids coming out of the Hunter every opportunity to be NRL players with the Knights. He's done everything he said he'd do.

PR: But people aren't getting paid.

WB: We've got to get ourselves off the front page for the wrong reasons. It's a good thing we're not playing footy now and it's only pre-season. By January, February this will be all gone.

PR: You're saying he'll have the tax bill paid by then?

WB: Yes, I'm confident of that. No organisation wants a tax bill hanging over their heads. It will be resolved in a proper manner.

PR: People are concerned, though. He's lost his plane, his chopper, the suite at ANZ Stadium. He hasn't paid ground rental.

WB: I understand what you're saying but the reality is that it's a cash flow issue. Anybody that follows the stock market understands that.

http://www.dailytelegraph.com.au/sport/nrl/the-bennett-interview-why-i-trust-nathan-tinkler/story-e6frexnr-1226537181942 http://www.dailytelegraph.com.au/spo...-1226537181942 
Maximus89

Maximus89

At least we can say that the ATO has never threatened to shut us down ;) 
knitey

knitey

Excellent point Max, but they have threatened to shut down HSG, not the Knights .:) 
Maximus89

Maximus89

Not completely true. The Knights owe $1.4 million of the taxes. That is not a HSG debt. 
knitey

knitey

It is HSG who own and control the Knights at present. 
southsport

southsport

In that case it would be wise for Wayne Swan and senior ATO officers to leave the country for their own safety. 
knitey

knitey

Excellent idea. 
southsport

southsport

On second thought, it won't be necessary.........Gillard can't afford to lose every seat in Newcastle and the Hunter. 
Maximus89

Maximus89

And? The Newcastle Knights are a company right?

http://www.ehow.com/about_4727895_what-veil-incorporation.html 
southsport

southsport

.......and Gillard, Swan and the Labour Party are on the brink, right???.........won't happen, knights are safe. 
knitey

knitey

I imagine so, but the parent company that controls the money and pays the bills (supposedly), is HSG, and it was HSG that were served. 
knitey

knitey

Of course they are safe, Max is a bean counter, and probably knows all these tax laws etc, I would say honestly that it is just a cash flow problem and Tinkler may well lose control of the Knights, but he has put them in a much better financial position than they were 18months ago, so for that I'm grateful to him and won't slag him off. 
TS_Quint

TS_Quint

If that's the case then it's probably a good thing he didn't sign with the Dragons considering their financial woes at the moment. 
knitey

knitey

Going by Bennetts comment the Dragons must have made him a huge offer, yet a lot of Dragons fans were deriding him at the time saying he only went for the money. 

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