if the Jets fold, the double effay, or anyone else, could start a whole new club from the ground up
can't see the problem really
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if the Jets fold, the double effay, or anyone else, could start a whole new club from the ground up
can't see the problem really
FFA renewed our license to 2035. we aren't foldingQuote:
Originally Posted by boz-monaut
Lulz, how long was the Knights, Fury or Gold Coast's licenses for?Quote:
Originally Posted by joel31
not that longQuote:
Originally Posted by Thomas477
Not sureQuote:
Originally Posted by Thomas477
Every team bar Wellington have been extended till ages away. Wellingtons expires next year or the year after - can't remember what they were waiting on
You do realise that the license is just the right to be able to play in the league. It’s no guarantee that a team WILL be in the league. Further at the time that the licenses were extended it was mentioned that certain performance measures were maintained that allow the FFA to retract a membership, it was one of the reasons that the owners were said to be unhappy as the new extended license still offered no security that your right to compete could just be taken away by the FFA. It’s also said to be a very long list of things which varies greatly from consecutive wooden spoon seasons, failing to pay players, any breaches of the club licensing agreements & low crowd figures. This is why Palmer dropped his lawsuit against the FFA, they have that many get out of gaol free cards in the license agreement he stood no chance of winning. If the extended license helps you sleep at night that’s great but its not helping the owners sleep at night.Quote:
Originally Posted by joel31
Realistically the FFA could just put our license up for sale, another consortium like the proposed Auckland City or that recent Cairns resort and casino that’s backed by Chinese billionaires who are willing to build a 25k seat stadium with their resort and who are already sponsoring the cairns NPL team could fast track their plans should a license become available. Then you have the usual suspects of Wollongong, Townsville & South Melbourne who always like to stick their hands up whenever there is talk about future a-league expansion
Approval from AFC to have an Oceania based side in an AFC compQuote:
Originally Posted by pv4
FFA need Newcastle just as much as Newcastle need FFA, they won't let us fold it would be a PR disaster.
Quote:
OPINION: Jets may mean more to Tinkler than Knights
IT is almost two years since that dramatic day when Nathan Tinkler tried to hand back his ownership licence of the Newcastle Jets.
At the time, Tinkler felt ripped off.
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He had been asked to step in and save the Jets when Con Constantine experienced financial hardship, and he agreed to bankroll the endangered club as a gesture of community goodwill.
Eighteen months down the track, the self-made tycoon was over it.
Issues such as the Jason Culina controversy and acquisition fees had soured his attitude towards Football Federation Australia.
Moreover, by this point he had also assumed control of the Newcastle Knights, and after horse racing, his first love was always rugby league.
So Tinkler dumped the Jets in the too-hard basket and walked away.
He ordered his right-hand man, Troy Palmer, to call a press conference and announce the divorce, perhaps underestimating the furore that would unfold.
A few weeks later, after threats of legal action and eventually a face-to-face meeting with FFA chairman Frank Lowy, Tinkler relented, agreeing to honour his commitments.
Two years on, how the landscape has changed.
Tinkler’s pockets are apparently no longer as deep as they once were and, ironically, it now seems the Jets, not the Knights, may be his more valuable commodity.
Tinkler’s Hunter Sports Group has insisted a problematic $10.3million bank guarantee will be in place by March 31, ensuring his tenure at the Knights continues for at least another 10 months.
It would not be the first time HSG officials have ridden out such a situation, insisting that it was a storm in a teacup.
Regardless of whether HSG can meet next week’s deadline, comments in yesterday’s Herald from Wests Group chief executive Philip Gardner suggest some of those involved are at least wondering if Tinkler will hold on to the club.
And this is where the Jets, rather than the Knights, may yet offer some return for the millions Tinkler has poured into Newcastle’s sporting franchises.
For Tinkler, the Knights will always be a financial liability.
Even in the event they did turn a profit, under the terms and conditions of privatisation, that money would be reinvested in the club.
As for on-selling to some other well heeled masochist, a clause entitling Knights members to buy the club back for $1 renders it basically worthless to Tinkler.
The Jets, on the other hand, are potentially an asset that is growing by the day.
Tinkler may live overseas, but presumably he will have noted with interest that Melbourne Heart were sold recently for $11.25million to Manchester City, and an Australia-based consortium is about to fork out a similar amount for Western Sydney before the end of June.
Even taking into account possible transfer fees for Adam Taggart, Mark Birighitti and Josh Brillante, it is unlikely the Jets would be worth as much as either the Heart or Wanderers, both of whom are based in capital cities with far greater commercial opportunities.
But with 10,000 members, a new stadium deal, a strong junior nursery and the chance of playing in the Asian Champions League, the Jets will surely have appeal on a global market.
And given that Tinkler made his fortune by buying cheap and selling at a profit, it is hard to imagine the thought of doing likewise with the Jets would not have crossed his mind, even if that means biding his time.
solid points whether they mean anything to tinkler i don't know;
most important points to potential owners and FFA though
10k members, stadium deal, strong juniors and the potential profit of young players.
:rof:Quote:
chance of playing in the Asian Champions League
Bhahahahahaha, 'transfer fees for players'.
What the **** are those things?
Haha classic Plague!Quote:
Originally Posted by plague
:lol::lulz:Quote:
Originally Posted by pv4
you are very youngQuote:
Originally Posted by joel31
The Sheep Quiz needs me just as much as I need the Sheep Quiz, PV4 won't let us fold it would be a PR disaster...........Quote:
Originally Posted by Premy
Some one does realise you have to finish at least in the top 3 of the League to get this to happen??:wacko:Quote:
the chance of playing in the Asian Champions League
FFS We haven't even get into the top 60% of teams in the last 4 faaarrrkinng years FFS
That don't look realistic anytime soon either let alone finishing in the top 30% of teams FFS
we're laughin, we'll be around for a thousand yearsQuote:
Originally Posted by Premy
The article is somewhat correct.
Go through all the clubs of both the NRL and A-League. Look at who the corporate partners.
Doesn't take a rocket scientist to work out that by and large the A-League is full of blue-chip firms with a strong international presence. Some NRL clubs list local two bob car dealers....................
http://www.theherald.com.au/story/21...assets/?cs=303Quote:
TWO of the remaining assets in Nathan Tinkler’s once vast business empire have fallen under the control of Westpac Bank with receivers appointed to sell properties in Newcastle and Brisbane.
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The move comes just days before the former tycoon is due to renew a $10.3million bank guarantee, held with Westpac, that underpins his ownership of the Newcastle Knights.
If Mr Tinkler’s Hunter Sport Group fails to have the bank guarantee in place by March 31, the Knights members club will begin to assume control of Newcastle’s NRL flagship for $1.
Said Jahani, of Sydney insolvency specialist Grant Thornton Australia, confirmed yesterday that he had been appointed by Westpac to oversee the disposal of properties held by Tinkler companies Merewether Investments and Oceltip Investments No.2.
These include a commercial property at 401/1 Honeysuckle Drive, Newcastle, and a vacant block of land at 447 Grandview Road, Pullenvale, Queensland.
Mr Tinkler’s Sydney-based spokesman said the Tinkler Group was ‘‘working closely with Westpac to restructure the group’s borrowings’’.
He said they were ‘‘separate to the Knights’ bank guarantee’’.
‘‘As stated previously ... the bank guarantee remains in place with Westpac and will continue to be following March 31, 2014,’’ he said.
The Honeysuckle property was purchased in September 2011 for $1.115 million, and Westpac registered a mortgage over the property about six weeks later.
It used to be the Newcastle headquarters of Mr Tinkler’s thoroughbred racing empire Patinack Farm and was held by Tinkler company Merewether Investments.
The four-hectare block of land in Queensland was purchased by Oceltip Investments No.2 for $2million in 2008.
Westpac registered a mortgage over the property on August 12, 2011, a week after Mr Tinkler took control of the Knights, which included him securing an initial $20million bank guarantee with Westpac.
Both companies, now under external administration, are owned by Mr Tinkler’s wife, Rebecca, and Mr Tinkler and Hunter Sports Group chief Troy Palmer are directors.
Mr Said refused to reveal the amount owed to Westpac or if the sale of the two properties would cover the debt.
‘‘The process will be that I will be taking these properties to market,’’ he said. ‘‘We have not yet had valuations done as this is in the very early stages.’’
Asked if there would be other properties seized by Westpac to cover the debt, he replied: ‘‘No comment’’.
Merewether Investments also holds two properties in Ocean Street, Merewether, where Mr Tinkler was going to build a $13.3 million beachside castle, before scrapping the plans and moving overseas.
It is understood that New York-based investment bank Jefferies lent Mr Tinkler – through Merewether Investments – $24 million on October 29, 2011, in return for a mortgage over the Ocean Street properties.
They have been for sale for some time.
The Herald reported on Monday that HSG secretly negotiated in January an unprecedented interim two-month bank guarantee agreement with the understanding it would be replaced by one encompassing the balance of the 12-month tenure before March 31.
Under the original terms and conditions of the former billionaire’s takeover of the Knights, he agreed to provide the surety, initially worth $20million for two years, then a $10million guarantee for the next eight years, renewed annually to account for Consumer Price Index (CPI) adjustment.
A guarantee worth $10.3million expired on January 31 and was supposed to have been replaced with one worth $10.52 million, valid for 12 months.
Instead an ‘‘interim’’ bank guarantee for a period of two months was put in place on the understanding it would be replaced by March 31 by one covering the balance of the 12-month tenure.
A loan for an additional $220,000 to cover the cost of CPI was secured by Hunter Sports Group from the Greater Building Society, not Westpac, on February 5.
$1 to own the Knights. That seems a bit expensive.
especially when you then have to pay DUI fines.Quote:
Originally Posted by The Dunster
This doesn't sound or look very good for the Knights. Lots of avoiding direct questions. This will only harm player and team morale. Let's only hope the Jets are mot being put in the same situation.Quote:
Darius Boyd caught up in $200,000 wrangle
By ROBERT DILLON
March 21, 2014, 10 p.m.
KNIGHTS officials say they have honoured ‘‘all’’ their contractual commitments to players after reports surfaced that Test star Darius Boyd was owed a six-figure sum.
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The Knights’ official newspaper, the Daily Telegraph, reported yesterday that Boyd was owed ‘‘around $200,000 in third-party agreements’’ and that a source had claimed ‘‘other players were in the same predicament’’.
The Herald received similar information earlier this week and was told Boyd did not attend Newcastle’s season launch function because he was ‘‘filthy’’ about the situation.
On Tuesday, having been offered a chance to deny those rumours, the Knights addressed them in a statement, saying: ‘‘There is no marquee player payment outstanding however the club will continue to explore additional sponsorship opportunities to retain all marquee players.’’
Asked yesterday if they would like to refute the Telegraph’s story, the Knights replied: ‘‘In response to today’s report concerning Darius Boyd, the NRL salary cap audit verifies the club has met all contractual obligations and will continue to do so.’’
With regards to Boyd’s non-attendance at the February 28 function held at Merewether’s Surfhouse, the Knights said: ‘‘Darius did not attend due to personal reasons.’’
Third-party sponsorships are a grey area because under salary-cap rules clubs are not meant to guarantee such deals.
The Telegraph also made mention of ‘‘irregular’’ payment of superannuation, saying that documentation belonging to one Newcastle player indicated his super had been paid only three times in 15 months.
The Knights said on Tuesday that ‘‘player superannuation continues to be paid on an ongoing basis’’.
An NRL spokesman said yesterday that the governing body had ‘‘noted that the Knights have made public assurances that they are making ongoing payments’’.
A spokeswoman for the Rugby League Players Association said it was policy not to comment on specific issues but no Newcastle players had contacted them.
‘‘It is inappropriate for us to comment on individual clubs or players with respect to their personal financial arrangements,’’ she said.
‘‘However, players, like any other employee, are entitled to have salary, superannuation, benefits and entitlements payments made in accordance with their contracts and the relevant employment legislation.
‘‘If that’s not being done, players have the right to know
I realise this can be the way Tinks does business, but it could be the tip of the iceberg.
tinks will get shits with the knights and his money loss and dump both teams. has to happen soon. But not before selling tagz, Biz and any others he might be able to make a buck out of.
If Birazz is going to Germany then expect Real Madrid to make an offer for BK.Quote:
Originally Posted by hawk
Tinks has a licence to print money.
In light of the impending demise of HSG's ownership of the Knoughts how much longer before the shit hits the fans at Jets HQ???
Do find the bit :roflz: where Tinks wants to still have some involvement / say/ ownership in the Knoughts going forward despite the impending reneging on his deals due to the money he has already invested.
Bit like a bloke going through a divorce expecting to get a blow job 3 roots and a session in the arse each month from his ex wife for all the money he has squandered into her over the years
.Quote:
MILLIONAIRE Nathan Tinkler will relinquish sole ownership of the Newcastle Knights on Monday but could still retain an interest in the club, with his Hunter Sports Group in negotiations with the NRL to create a new administrative structure.
Tinkler is considered no chance of meeting the 5pm deadline to put a new $10.52 million bank guarantee in place, a key component of his 2011 takeover of the club.
If he defaults on the commitment, as expected, the Knights Members Club will be within their rights to kick off proceedings to buy back the club from Tinkler for $1.
The Members Club is expected to meet on Wednesday or Thursday to formulate a plan to take back control.
The first step in that process has already taken place with Members Club chairman Nick Dan accessing the existing bank guarantee late last week and depositing it in a joint signatory account.
But it has emerged Tinkler’s Hunter Sports Group has held talks with the NRL over the past few months about a new ownership model that would guarantee HSG representation on any new board.
Knights CEO Matt Gidley was in Sydney on Friday for further talks and club chairman Paul Harragon told Channel Nine an announcement would be made over the next week.
It’s understood the proposed new structure also calls for representation from the NRL and the Members Club on the revamped board.
Harragon has been in private negotiations with Dan in a bid to get the members club on side but there is speculation they won’t give up their position of strength without a fight.
Dan said he was aware of the speculation surrounding the new structure but believes HSG should not be a part of the club’s future unless Tinkler meets the guarantee deadline.
“If they get the guarantee in place, we can all get back to what we’ve been doing,” he said.
“If not, they’ve had their opportunity to run the place.”
The NRL appears to be the key.
“The NRL will arbitrate in all this and at the end of the day, they control who gets the licence,” one source said.
“Whichever way it goes, it’s unlikely to be a smooth process.”
I would trust that FFA are being proactive on this and not just waiting for the shit to hit the fan ?
Gatty has a reliable sauce (assuming not from the bottles at Pootongue) that there is already someone ready to step in should Tinks throw a tantrum and drop the Jets.
Ray Gatt @Gatty54
I've been trying 2get some answers from FFA but they saying nothing until something def happens with Knights
Ray Gatt @Gatty54
I am hearing there are people ready to step in at the Jets if Tinkler falls over
^^ is it blacmac?
Con and Remo or fold the farkern club.
Would prefer HP, if I am being honest.Quote:
Originally Posted by snake
rangers of 1886
vj
saucer people
Westboro Baptist Church.Quote:
Originally Posted by q-money
It's a dead set cert that Alan Joyce is our new GM though. He's the only bloke with the track record to carry on Middlebys legacy.
http://www.dailytelegraph.com.au/spo...-1226875453196
Quote:
STRUGGLING businessman Nathan Tinkler wants to sell the Newcastle Jets soccer team to save his ownership of the Knights.
The financial whirlwind that has shaken the former mining billionaire could lead to foreign ownership of the soccer club and only a 50 per cent share of the NRL club for Tinkler.
The Jets licence is said to be worth about $5 million. That cash would be poured back into the Newcastle Knights and almost ensure Tinkler can retain a 50-50 shareholding.
The Jets valuation comes after the Melbourne Heart were sold to the Abu Dhabi royal family, the owners of Manchester City, for $11 million.
The Western Sydney Wanderers are about to be sold for $10 million to a local consortium that includes Asian interests.
I’m told Tinkler’s agents have been in Asia for some time actively trying to find a buyer for the club.
He’s also being advised by John Singleton in Australia.
The A-League’s connections to Asia via the Asian Champions League and 2015 Asian Cup are sparking interest. The Hunter’s coal export links to Asia are another key element.
But if Tinkler does end up relinquishing control there will be a strong push to convert the Jets into a member-owned club.
FFA boss David Gallop is watching closely. At this stage players and staff are being paid on time, unlike the Knights players. There are mixed views about Tinkler’s ownership future with the Knights.
paging blackmac - time to dust off your trust proposal
sorry, just saw that article was posted by Phil Rothfield.
Thats the football equivalent of an article from goal.com
I wanted to put a disclaimer next to it saying it was by him but decided the forum discussion would have been better without knowing that :(
Sounds almost word for word like a post on the Herald a few weeks back. Everyone knows that the Jets are a saleable asset and that Tinks would be mad not to utilise his connections in Singapore. Nothing new here.
I can have a few K ready to go....