NRL Rumour Mill Thread (Spoilers)

Matt26 · Dec 10, 2012

The Panthers (Club) have voted to sell off 3 of the smaller clubs tonight it had purchased in the past and in doing so have wiped out 3/4 of the debt that was slowly killing the club. The club was at a real risk of going under and this would have meant that the funding for the football club would have stopped. As a result they are scheduled to now make a profit of 9.5 million dollars next year taking into account the annual loss of about $4 million dollars that the RL club costs the Panthers club each year!

As a guide, last year the football team cost $14 million to run. They recouped $10 million of that in tickets/memberships/merch/sponsorship/grants etc.

Cheers
Matt

The Mad Hatter · Dec 12, 2012

Matt26 said:
Heard Gus talking at the fan day yesterday to some people and he mentioned that it may get to the point where the NRL will go for the option of a 30- 40,000 seat stadium somewhere in western sydney (either to upgrade an existing ground or build a custom new one) that would hold Parra/Penrith/Wests Tigers games in the future. He mentioned a hypothetical that if he was to play all Panthers home games out of Homebush based on current membership numbers the club would make double what it does than playing at home mainly from corporate hospitality. He said he doesn't want to move but sometime down the track the NRL will investigate a one stadium policy.

Cheers
Matt

That's why Souths went to ANZ. The hospitality / corporate dollar is fantastic.

I'd love to see a RL purpose stadium somewhere between Penrith and Parramatta.

Matt26 · Dec 12, 2012

The Mad Hatter said:
That's why Souths went to ANZ. The hospitality / corporate dollar is fantastic.

I'd love to see a RL purpose stadium somewhere between Penrith and Parramatta.

Being somewhat biased, id love to see the NRL/State Government build a 40,000 seat state of the art stadium at the current Olympic precinct at Blacktown. There is currently a smaller stadium (10,000) that is the training ground for GWS, hosts baseball/softball next door and has hosted state cricket and some AFL games.

It's right next to 2 main motorways (you could build an onramp very easily to the M7 Motorway which links up with 3 motorways) and has plenty of room for parking bays to be built, a short bus trip from 2 train stations and all of this would have happened if the Soccer World Cup was given to Australia.

It would be a 30 minute trip from Campbelltown for the Tigers, 30 mins from Penrith and 30 mins from Parra west....so central to all western clubs.

More importantly, it would be right next to the massive business park being established on the old Wonderland site. Good for Corporate dollars.

Plus being less than 3kms from my place is an added bonus.

cheers
Matt

The Mad Hatter · Dec 12, 2012

Don't forget that large water park they're putting in.

The NRL should build it's own stadium without State/Federal/ Council funding. Cost them a pretty penny though.

Sucks to be Campbelltown Council who sunk money in to their ground and the Tigers barely play there (maybe thrice a year? [3 days out of 365 for top level RL, sheesh!]) and train at Concord Oval!!!

1967Sharks · Dec 12, 2012

I miss wonderland

ooneil · Dec 13, 2012

The Tax Office has moved to wind up the Newcastle Knights and the Newcastle Jets, along with their parent company the Hunter Sports Group, over unpaid debts of some $2.7 million, as owner Nathan Tinkler's debt problems continue to mount.

Documents filed on Wednesday in the Federal Court in Sydney show the Deputy Commissioner of Taxation is applying for the wind-up of Hunter Sports Group (owing $184,258), Newcastle Jets Pty Ltd (owing $1.063 million) and Newcastle Knights Pty Ltd (owing $1.424 million).

AyiosYiorgos · Dec 13, 2012

full story

THE future of Nathan Tinkler's Newcastle Knights and Jets is under a significant cloud after the Australian Tax Office moved to have them wound up.
Federal Court documents filed in Sydney on Wednesday revealed the Deputy Commissioner of Taxation had applied to have Hunter Sports Group, Newcastle Jets Pty Ltd and Newcastle Knights Pty Ltd wound up over unpaid debts of approximately $2.7 million.
The tax office is claiming Hunter Sports Group owe $184, 257, Newcastle Knights $1.424 million and Newcastle Jets $1.063 million.
Tinkler spokesman Tim Allerton said there was a $20 million bank guarantee in place that funds the NRL club (heâ€™s not sure about the Jets) but said the tax owing is a separate issue and will be paid by Tinklerâ€™s company â€œvery soonâ€™â€™.
"We are surprised we have not received any documents," the spokesperson said.

A Hunter Sports Group statement said it was business as usual for the Jets and the Knights.
A hearing has been set for February 20. The spokesperson said it was expected the ATO would be repaid in full well ahead of that date.
The ATO's move against Tinkler's sporting operations is the latest blow to the Singapore-based mining magnate.
Two of Tinkler's companies, Mulsanne Resources and Patinack Farm Administration, are currently in receivership.
His personal jet and helicopter have been repossessed and his luxury suite at ANZ Stadium handed back.
Tinkler told The Daily Telegraph last month that the Knights and the Jets were "safe and secure", but admitted he was prepared to walk away from his racing venture, Patinack Farm, for the right price.
"Both clubs are very close to my heart, they are community-based, and I don't need to have a lot to do with the clubs," Tinkler said.
"There are no financial issues with either club, they are safe and secure, they are all fine.
"Racehorses take management, man hours, lots of people, all those sort of things. Fortunately, there is no manes on most of those footy players so they can think and speak for themselves.
"The footy clubs are a much easier business to manage - horses is just massive, the money is massive, everything is just too hard."

ooneil · Dec 13, 2012

I read through the documents and it says they have 21 days to pay before they petition the court to wind them up. Over this prick. Football club needs to kick his arse out and take the $20mil bank guarantee.

thenamesgould · Dec 13, 2012

He's been awesome for the club, if he ends up going then that'll be disappointing, but I don't think he will.

How much debt did we have when he took over, $20 million? An he's wiped all that? Thanks to Tinkler the Knights will be secure for many years to come.

AyiosYiorgos · Dec 13, 2012

Can someone confirm if this is possible, if Tinkler owe's $25million to the ATO, can they take that $20m bank gaurantee?

ooneil · Dec 13, 2012

thenamesgould said:
He's been awesome for the club, if he ends up going then that'll be disappointing, but I don't think he will.

How much debt did we have when he took over, $20 million? An he's wiped all that? Thanks to Tinkler the Knights will be secure for many years to come.

Well he obviously hasn't wiped all the debts (ATO and Stadium come to mind) and your right the club is miles ahead with him but im over the drama with this guy.

Knights, Jets, it just never ends.........

ooneil · Dec 13, 2012

AyiosYiorgos said:
Can someone confirm if this is possible, if Tinkler owe's $25million to the ATO, can they take that $20m bank gaurantee?

Definitely no. But the Knights would most likely become liable for the debt accrued by the Newcastle Knights Pty Ltd but not any debts that HSG has accrued.

thenamesgould · Dec 13, 2012

ooneil said:
Well he obviously hasn't wiped all the debts (ATO and Stadium come to mind) and your right the club is miles ahead with him but im over the drama with this guy.

Knights, Jets, it just never ends.........

Yeah, it is very frustrating ... it seems like the guy is incapable of running a business without it becoming a total debacle. Just hope it doesn't impact on the on-field performance, I guess.

KyleP · Dec 13, 2012

It always happens with these insanely rich guys, they make a shitload of money and then get in debt and go bankrupt (often multiple times e.g. Alan Bond). One thing i have a massive problem is that when people like that are in so much debt they file for bankruptcy and don't pay a lot of the money back...then within a number of years they are insanely rich again.

footycardswaps · Dec 13, 2012

Panthers group took over a couple of clubs in Bathurst and have recently handed over the Bowling Club to a community based organisation and If I'm hearing the radio advertising right that the Panthers League's Club in town has reverted to calling itself the Bathurst League's Club, comparisons can be made to Nathan Tinkler, the Panthers group is suffering and so is poor old Nathan.

mischap123 · Dec 13, 2012

It would be such a shame if the Knights go under. The cynic in me just thinks it'll go the same way as Firepower Sydney Kings and I think Rugby), Eddie Groves (ABC learning) and now Tinkler with the Knights

AutographedMemorabilia · Dec 13, 2012

With his Bank gaurantee it would be made out to the Newcastle Knights as you need a name on it.
The Knights Board would need to goto the bank with the Gaurantee and claim it small amounts can be paid straight away larger amounts and depending on his working with the bank it can take 2 days for the process.
You need to look at it this way is for the Knights the ATO can goto court and file to wind up the businesses but because the Gaurantee is for the Knights they get first bit at the 20 Million and then the tax department can lay claims after that.
And namethesgould you are right the started with a clean slate no debt as he paid it all thats putting your money where your mouth is.
If Tinkler did not do it who else would have saved the Knights at that time.

ooneil · Dec 13, 2012

I'm sure it will get sorted out by HSG and wont end up back with the members (of which im one) but I'm sick of hearing about Tinker. It's at the stage that its not good for the club.

There is so much miss information out there.

The guy still has hundreds of millions worth of Whitehaven shares. They have gone up about $50 million for him the week alone.

No one actually knows how much debt he has but if it's as much as they say I can assure you that his bankers would already own those Whitehaven shares.

ooneil · Dec 13, 2012

AutographedMemorabilia said:
If Tinkler did not do it who else would have saved the Knights at that time.

There was a alternative group at the time that offered to leave the club as is but give them $2.5 mil a year no strings. The board knocked it back.

thenamesgould · Dec 14, 2012

That alternative deal was terrible in comparison, and from memory had no guarantee of continuing after the first season.

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