More admin oversights from Tinkle I wonder?
http://www.smh.com.au/business/tax-o...213-2bb7w.html
More admin oversights from Tinkle I wonder?
http://www.smh.com.au/business/tax-o...213-2bb7w.html
From the Herald too
http://www.theherald.com.au/story/11...s-jets/?cs=303
Another day another cluster f%^k of stories re Tinks finances, all starting to wear a bit thin.
Originally Posted by Disinterested Bystander
That should get us through most of the season.The applications have been set down for hearing on February 20.
I wonder how the ATO would go about selling club assets as it is not your typical business.
I'll buy Birraz, BK or Duncan off them - we need a new goalie for our team
What assets would they even have, a few kit bags and some signage.
who opens the mail down at tinkler towers ffs?
i reckon it must be craig deans
they've got a few trademarks registered.
"good engines"
"it wasn't my fault because..."
"high-tempo pressing game"
the crazy chicken dance
they must be worth billions.
haha. normal service resumes and the good times return to the foz.
I really think we are meant to have a club with never ending off field drama and incompetence.
sorry boys, looks like we'll be ok*"Football Federation Australia (FFA) has received advice from the Newcastle Jets in relation to the documents filed in the Federal Court in Sydney today by the Deputy Commmissioner of Taxation.
FFA has been given assurances by Hunter Sports Group, owner and operator of Newcastle Jets, that the club’s operations will not be affected.
Newcastle Jets are currently in Perth preparing for their Round 11 Hyundai A-League match against Perth Glory at nib Stadium tomorrow night."
Read more: http://www.smh.com.au/sport/sportsda...#ixzz2Eu4nXxH9
*assuming GVE and Deans are shown the door shortly
i kind of hope it does come crashing down again for the final ultimate blood-letting
the stories that will be told
wehrman did 9/11 etc
nevar 4get
...picturing craig deans opening the mail at Tinkler Towers to the tune of yakety sax, just chucking the ATO one's straight in the bin.
I bags buying Deans off the liquidators.
Oh, and who has copyright on the lulzturtle? That ain't getting repo'd is it?
Jetman suit would be good for fancy dress parties.
What the **** is going on?
I leave the country for a few months and everything has gone pear shaped.
Just service as normal really. It would be a Jets season if there wasn't a story about us going under.
Newy
Middleby Gone
Lawrie Out
just fold the club tbh.
you'd be crying on ya fairy bread
ATO to get paid if this is so??NATHAN Tinkler is understood to have sold Caulfield Guineas winner All Too Hard and the foundation stone of his foray into horseracing, Patinack Farm Aberdeen, as part of a deal worth $30 million yesterday.
Fairfax Media has learned Vinery Stud, which is part-owned by Gerry Harvey and Black Caviar's owner Neil Werrett, will be the new owner of All Too Hard and Onemorenomore, which stands at Hunter Valley stud, and the Aberdeen property. Vinery Stud general manager Peter Orton would only confirm the stud was in discussions about buying All Too Hard, which is a half-brother to the unbeaten Black Caviar, last night.
"I think any stud would like to have a stallion prospect like him, and there are at least two other studs in the market," Orton said.
Insiders in the Tinkler group were saying privately yesterday that a lot of problems had been solved by the sale of All Too Hard.
However it is not clear how much cash, if any, Tinkler will pocket from the deal.
The former billionaire was extended a loan recently by Harvey, reported to be $20 million, as his financial woes deepened.
An announcement about the deal will be made before Christmas as Tinkler's spectacular fall from Australia's youngest billionaire gathers momentum.
Werrett was the underbidder on All Too Hard, which is by Patinack stallion Casino Prince, as a yearling when Tinkler paid a sale-topping $1.025 million at the Inglis Easter Sale.
All Too Hard made an immediate impact on the racetrack winning his first three starts under the guidance of training partnership John, Michael and Wayne Hawkes.
See your ad here
He was favourite for the world's richest two-year-old race, the Golden Slipper, before a decision was taken not to start.
All Too Hard was runner-up to Pierro in the Sires Produce Stakes at his final start as a two-year-old and turned the tables on his conqueror in the group 1 Caulfield Guineas at fourth run as a three-year-old. He backed up a week later and ran second to Ocean Park in the Cox Plate.
All Too Hard will campaign in the autumn and is likely to go to Royal Ascot in June.
Knights going to cut and run by the looks of it, surprised they waited this long, cleared their $6m debt, their tax bill, now they are going to try and take him for his $20m bank guarantee, me thinks tinks is going to be well pissed,Will be interesting to see if they try and cosy up to those in the "Patrons Trust" again. Not sure what this is going to mean for us, might be time for us to all start breaking out the piggy banks, tinks might decide its all too hard (Newcastle Knights Members Club board to ask Nathan Tinkler to walk away
James Hooper
The Sunday Telegraph
December 16, 2012 12:00AM
NATHAN Tinkler will tomorrow be asked to hand over control of the Newcastle Knights by giving the club's NRL licence back to the Members Club board.
With his billion-dollar asset-rich empire crumbling by the day, The Sunday Telegraph can reveal the coal baron will be told to cut ties and walk away for the good of the Newcastle club and community.
The most important meeting in the 24-year history of the Knights will take place at the offices of Bilbie Dan solicitors, the workplace of Knights Members Club chairman Nicholas Dan, tomorrow.
Given the Australian Tax Office has commenced wind-up proceedings against Tinkler for a $2.7 million debt and the NSW Government is suing him for $600,000 in unpaid rent on Hunter Stadium, the Knights Members Club board has been presented with little alternative.
For the sake of the Knights brand and the future of the club, the irrefutable damage about bills being constantly paid late must end here.
The Sunday Telegraph understands Tinkler will be asked to part ways with his $20 million bank guarantee and allow the Members Club board to take over the licence and the day-to-day running of the NRL club effective immediately.
Knights Members Club board chairman Dan was guarded when asked about the proposition yesterday, saying: "Our top priority is to keep the club going at its best, so we will be discussing all options.
"Owners come and go, players come and go but the club must always come first.
"Our number one prerogative will be to ensure the club will always have a presence in the NRL for our loyal supporters to follow.
"We owe it to the community to explore all options."
Behind the scenes, ex-Newcastle players in the Knights Old Boys club and other Novocastrian power-brokers have been privately preparing for Tinkler's empire to implode for months.
The Sunday Telegraph can reveal ex-CEO Steve Burraston and ex-chairman Rob Tew - the white knight who stood staunch on the terms of Tinkler's $20 million bank guarantee - have both been approached about an immediate return.
Under the terms of Tinkler's 10-year $100 million takeover, the white whale promised to bring in $10 million in sponsorship per season, stump up a $20 million bank guarantee and tip $2.5 million a year into junior development in the Hunter region.
Failure to deliver on any one of those safeguards is technically a breach of Tinkler and HSG's privatisation contract, meaning the Knights Members Club board can trigger an option to buy back the club for $1 and start drawing on the bank guarantee.
Tinkler also agreed to allow independent auditors to put a fine-tooth comb through the Knights' books every 12 months, with a detailed report to be handed over to the Members Club by December 15 every year.
That date passed yesterday but the auditors - Crosby, Warren and Sinclair - only began to examine the Knights books last Tuesday.
Another round of crisis talks last week bought HSG an extension on the audit date until January 21 and the $20 million bank guarantee was supposedly pushed out to January 31.
But given the ATO commenced wind-up proceedings last Thursday, all previous bets may now be called off by the Knights Members Club.
There is also growing concern in Newcastle about the way HSG does business, with bills repeatedly paid late. The Newcastle Rugby League club is reportedly owed $300,000, which is a breach of the Tinkler's privatistaion contract if it remains unpaid.
Online forums were lit up yesterday with Knights members urging Tinkler to cut his losses and hand back control of the club.
) and throw in the towel for us as well and just fold HSG.
Posting Permissions
Reply With Quote
