Titans in trouble!

[Xman]

NATHAN Tinkler's purchase of the Newcastle Knights was supposed to be about providing a secure nursery for thousands of young players in the Hunter region.

He pledged a $300,000-a-year grant to the Newcastle Rugby League to be spent on junior development - and declared he was doing it for the community.

As doubts were being raised this week about his long-term financial position, we can reveal half the money owed to the Newcastle Rugby League has not yet been paid.

Sources have told me $170,000 is overdue. Newcastle chairman Trevor Crow confirmed money was owed.

It's why questions are being asked about the Tinkler-owned Hunter Sports Group offering former England striker Emile Heskey a $1 million one-year deal with the Newcastle Jets.

Stories about Tinkler and his financial pressure have been around for months. I'm now told there are issues at the Knights with delays in superannuation payments and regular delays in paying staff salaries.

Player payments have been made on time to ensure there is no public outcry. Coach Wayne Bennett, who is on more than $1 million a year, is getting paid, but it hasn't stopped him from ringing Tinkler in Singapore at least twice a week to be kept up to date with the financial situation.

In another blow for the Tinkler empire, property group Mirvac told the Supreme Court they would be seizing Tinkler assets to settle a $17 million debt that was supposed to be paid by the first day of September.

He also has debts within the racing industry.

Fortunately for the Knights, their former CEO Steve Burraston had the foresight to insist a $20 million bank guarantee had to be part of the Tinkler purchase. Still, it doesn't cover the Newcastle Jets.

Surprisingly the NRL remains unconcerned. Then again, this is the same NRL that ignored the massive financial problems at the Gold Coast Titans for years.

"We have been assured by the Knights that there is no issue," said interim CEO Shane Mattiske. "In our monitoring of the club's finances, we've seen no evidence that would suggest we should be concerned.

http://www.heraldsun.com.au/sport/nrl/t ... 6479469023

Another NRL club in serious financial trouble.

[enarelle]

One good go into a long response on this but I think the article answers the question of why the League is unfazed but one does need to understand what a bank guarantee is - in particular a $20m version. Do the AFL ever read the stuff they post?

[Xman]

One good go into a long response on this but I think the article answers the question of why the League is unfazed but one does need to understand what a bank guarantee is - in particular a $20m version. Do the AFL ever read the stuff they post?

The clubs employees arent even being payed correctly. Who cares about a guarantee!

[enarelle]

Ummm the guarantee in fact guarantees they will get paid.

[QueenslandISAFL]

the gold coast suns rules the coast anyways, so i'm not surprised by this.

[Dogs]

One good go into a long response on this but I think the article answers the question of why the League is unfazed but one does need to understand what a bank guarantee is - in particular a $20m version. Do the AFL ever read the stuff they post?

The clubs employees arent even being payed correctly. Who cares about a guarantee!

The guarantee that has been set up will in the short term make the knights better off. If Tinkler went bust before dec 31st, they get 20mill and he has already cleared any debt they had. After 31st and they get 10mill. If he doesn't go bust he has to pay the bills

[Xman]

One good go into a long response on this but I think the article answers the question of why the League is unfazed but one does need to understand what a bank guarantee is - in particular a $20m version. Do the AFL ever read the stuff they post?

The clubs employees arent even being payed correctly. Who cares about a guarantee!

The guarantee that has been set up will in the short term make the knights better off. If Tinkler went bust before dec 31st, they get 20mill and he has already cleared any debt they had. After 31st and they get 10mill. If he doesn't go bust he has to pay the bills

If he goes bust who'll support them in the future years?

[Dogs]

stop smoking crack, they have done it on their own for years and with a debt. Now they don't have any debt and will have positive cash flow to start with

[Xman]

stop smoking crack, they have done it on their own for years and with a debt. Now they don't have any debt and will have positive cash flow to start with

Prove it. All media reports say that all NRL teams bar the broncos make a loss.

[Raiderdave]

the gold coast suns rules the coast anyways, so i'm not surprised by this.

the thuns rule nothing
lost 50% of their support in their 2nd year ... & with another bleak year on the horizon in 2013 ... expect another big drop in support

the Titans are now firmly under the wing of the ARLC
they had a fair year on field & averaged 1000 more people through the gate per game then the thuns

& they should go pretty ok again in 2013 .. with the coal train Dave Taylor to add some more spark to their attack
expect them to increase their popularity next year .. & have a 2000 per game advantage ova their vicky kicky rivals

the war on the coast is over after just 2 years
with RL winning it handsomely

[Xman]

the gold coast suns rules the coast anyways, so i'm not surprised by this.

the thuns rule nothing
lost 50% of their support in their 2nd year ... & with another bleak year on the horizon in 2013 ... expect another big drop in support

the Titans are now firmly under the wing of the ARLC
they had a fair year on field & averaged 1000 more people through the gate per game then the thuns

& they should go pretty ok again in 2013 .. with the coal train Dave Taylor to add some more spark to their attack
expect them to increase their popularity next year .. & have a 2000 per game advantage ova their vicky kicky rivals

the war on the coast is over after just 2 years
with RL winning it handsomely

the war aint over by half! When both sides have made finals we'll see which is better supported.

[piesman2011]

I expect the Suns will win 6-10 games next year and their support should be up by a few thousand. By 2014 they should be making finals and have the same support they got in their first year. As for the Titans there are no guarantees that there will be a Titans GC team in 2014.

[Raiderdave]

stop smoking crack, they have done it on their own for years and with a debt. Now they don't have any debt and will have positive cash flow to start with

Prove it. All media reports say that all NRL teams bar the broncos make a loss.

news ltd ?

yes they've never BS'd an anti RL story in their lives have they

[Raiderdave]

the gold coast suns rules the coast anyways, so i'm not surprised by this.

the thuns rule nothing
lost 50% of their support in their 2nd year ... & with another bleak year on the horizon in 2013 ... expect another big drop in support

the Titans are now firmly under the wing of the ARLC
they had a fair year on field & averaged 1000 more people through the gate per game then the thuns

& they should go pretty ok again in 2013 .. with the coal train Dave Taylor to add some more spark to their attack
expect them to increase their popularity next year .. & have a 2000 per game advantage ova their vicky kicky rivals

the war on the coast is over after just 2 years
with RL winning it handsomely

the war aint over by half! When both sides have made finals we'll see which is better supported.

the thuns in the finals

by 2017 ?
2018
2019

hows the saying go..... wheres the ship ?

oh it sailed a long time ago

[Raiderdave]

I expect the Suns will win 6-10 games next year and their support should be up by a few thousand. By 2014 they should be making finals and have the same support they got in their first year. As for the Titans there are no guarantees that there will be a Titans GC team in 2014.

you & predictions .......