Tinkler Knights deal off

[adz]

Deal off. Will they change their colours back to baby shit brown now?

Billionaire mining magnate Nathan Tinkler has pulled out of a $100 million deal to purchase Newcastle Knights.

Tinkler Sports Group officials had been due to meet Knights chief executive Steve Burraston and chairman Rob Tew at 1400 (EDT) on Monday, to resolve their issues after ongoing talks had hit a snag.

But a frustrated Tinkler announced in a statement that he had taken the offer off the table due to "too many differences between the two parties that remain unresolved".

Tinkler also reportedly sent an email to board members informing them of his decision and laying the blame for the failed deal squarely on the shoulders of club directors.

Where does Nathan Tinkler's decision leave Newcastle Knights? Join the conversation by leaving your comments at the foot of the story.

The billionaire did not hide his disappointment towards the Knights, who stood to secure $100 million over the next 10 years.

"We feel that this outcome has cost the club, its members, fans, Newcastle, the Hunter and Northern NSW community a unique opportunity to guarantee the future of a proud sporting brand," Tinkler Sports Group said in a statement.

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"To all members and fans we offer the solemn assurance that Tinkler Sports Group has moved heaven and earth to transact this deal in good faith and with the community interest in mind at all times.

"This now ends our interest in this matter with the current Knights board.

"We will not be engaging in further discussion.

"The Tinkler Sports Group has a number of Hunter-based sports and community endeavours ready and willing to engage our support.

"We will be moving on with these projects forthwith."

Tinkler had been quoted earlier as saying the Newcastle community "deserves better than it has been getting and I hope you can apply as much energy to moving it forward to deliver better outcomes as you have to holding it back in this process'.

"Tew and Burro rejoice, you keep YOUR club," he was quoted as saying.

The Knights have called a media conference for 2.30pm (EDT) on Monday, when officials are expected to make Tinkler’s decision official.

 

[scottmac]

So me and Celery had that long winded back and forth over the Jest kits for nothing?

Dissapointed! :lol:

 

[style_cafe]

So me and Celery had that long winded back and forth over the Jest kits for nothing?

Dissapointed! :lol:

Hey ,It wasn`t for nothing...I enjoyed it verhead:

 

[T]

I wouldn't write this deal off completely yet.... I think its just a few teething problems. I heard this morning that club members were going to peteition for a General Meeting.

 

[scottmac]

I wouldn't write this deal off completely yet.... I think its just a few teething problems. I heard this morning that club members were going to peteition for a General Meeting.

Agree.

The key point in Tinklers media release was the deal would not happen under the CURRENT board, opening the way for privatisation after they get rid of the problems.

 

[midfielder]

Agree.

The key point in Tinklers media release was the deal would not happen under the CURRENT board, opening the way for privatisation after they get rid of the problems.

I have always thought that Tinkler was trying to build a sports organisation in Newcastle and to do this he needs control of Energy Australia Stadium...

He needed both teams the Jets & the Knights ....

Out of the blue no pun intended ... a white knight ... is offering the Knights funding http://www.smh.com.au/rugby-league/league-news/white-knights-keen-to-recruit-tinkler-20110222-1b44h.html ... meaning the Knights would no longer need Tinkler well at least for a few years...

HHHMMMMMMMmmm given the past treatment of the Jets by the Knights I wonder aloud how the Knights treat the Jets on future stadium deals given the current feeling between the two groups and further what Tinkler is prepared to spend on the Jets without the Knights especially if he thinks he is being screwed by the Knights on the use of Engery Australia...

Will be an interesting space to watch ... and I would not be surprised if the Jets made Bluetounge their temp home for a season or two...

 

[scottmac]

I have always thought that Tinkler was trying to build a sports organisation in Newcastle and to do this he needs control of Energy Australia Stadium...

He needed both teams the Jets & the Knights ....

Out of the blue no pun intended ... a white knight ... is offering the Knights funding http://www.smh.com.a...0222-1b44h.html ... meaning the Knights would no longer need Tinkler well at least for a few years...

HHHMMMMMMMmmm given the past treatment of the Jets by the Knights I wonder aloud how the Knights treat the Jets on future stadium deals given the current feeling between the two groups and further what Tinkler is prepared to spend on the Jets without the Knights especially if he thinks he is being screwed by the Knights on the use of Engery Australia...

Will be an interesting space to watch ... and I would not be surprised if the Jets made Bluetounge their temp home for a season or two...

That is not exactly a white Knight.
What's being proposed is roughly 1/7 th of what Tinkler was prepared to provide the Knights with and thats not including having their sponsorship underwritten and debts taken care of. The purported white Knight also asks for Tinklers help in the article so IMO this is an attempt by the board to deflect public outcry over their behaivour.

As for the Jets playing out of Bluetounge, I'm sure stadium management would love it but I'm also sure that would go down worse with Jets fans than the red and blue strip. Don't bet on that happening.

 

[curious]

I have always thought that Tinkler was trying to build a sports organisation in Newcastle and to do this he needs control of Energy Australia Stadium...

He needed both teams the Jets & the Knights ....

Out of the blue no pun intended ... a white knight ... is offering the Knights funding http://www.smh.com.au/rugby-league/league-news/white-knights-keen-to-recruit-tinkler-20110222-1b44h.html ... meaning the Knights would no longer need Tinkler well at least for a few years...

HHHMMMMMMMmmm given the past treatment of the Jets by the Knights I wonder aloud how the Knights treat the Jets on future stadium deals given the current feeling between the two groups and further what Tinkler is prepared to spend on the Jets without the Knights especially if he thinks he is being screwed by the Knights on the use of Engery Australia...

Will be an interesting space to watch ... and I would not be surprised if the Jets made Bluetounge their temp home for a season or two...

The Hunter Venues Authority has management control of the stadium from next month after a settlement with the knights. The jets signed a agreement based on crowd sizes (the higher the crowd, the lower the cost, similar to the deal of many nrl clubs) with HVA after tinkler took over. Constantine had only game by game, money up front hire because of his past failure to pay debts.

The bid is also back on for the third time and looks like they have put the daggers away this time.
http://www.smh.com.au/rugby-league/league-news/tinkler-bid-back-on-the-agenda-after-talks-resume-20110223-1b5m1.html

 

[midfielder]

Tinkler's bid to buy Knights in doubt after he fails to stump up cash ..........HHHHHHHHHHHHHhhhhmmmmmmm .. a wait and see ....

http://www.smh.com.au/rugby-league/league-news/tinklers-bid-to-buy-knights-in-doubt-after-he-fails-to-stump-up-cash-20110629-1gr80.html#ixzz1Qfw778hG

 

[Muppet]

Don't be so quick to believe everything that comes from SMH. They can be very anti-league when they want to be. Having said that It does throw up an interesting issue for everyone to dissect and discuss.

 

[kevrenor]

Don't be so quick to believe everything that comes from SMH. They can be very anti-league when they want to be.

Be still my beating heart ... if only it were TRUE!!