subject: Knights Refused Tinkler Support His Best Way [print this page] Knights Refused Tinkler Support His Best Way
The Tinkl Sports Group believes that a 10 million U.S. dollars to buy Newcastle Knights are the best way forward for club. Tinkler hasn't give up on taking over the Knights though, as he attempts to talk to the community, as he attempts to get his bid over the line, thus taking over the Knights.
Mining magnate Nathan Tinkl put a lot on the board of the Knights on Monday, but the proposal was rejected in its present form.
The agreement covers 10 million over ten years, holding the Knights a non-profit and ensure the club remains jointly ownership.
Tinkler Sports Group Executive Chairman Ken Edwards said Tinkl want to ensure we survive far into the Knights future.
"We want to help and assist the Knights to be bigger and better," he said.The Knights turn over $20 million a year with $7.5 million coming directly through sponsorship. It is understood some sponsors have indicated they may bail out if the club is privatised.
But Tinkler's right-hand man at the Jets, executive chairman Ken Edwards, said last night the offer was genuine and believes it is the way forward for the Knights.
"Clearly they have had some difficulties over a long period, one of the truisms in business is that if you keep doing things the same way you keep getting the same results.
"But Newcastle Knights CEO Steve Burraston said the board rejected the offer in its current form, as he did a better deal for the future of the club.
"Our current revenue would be guaranteed, because that is what we need to do business in its current form," he said.
"The Board felt that it was not in a format they felt comfortable for the members to take an honest and say it was a good deal." "It was removed yesterday at lunch time to avoid a deal on the table."
