Newcastle faithful embrace Tinkler
Sydney Morning Herald
Tuesday March 29, 2011
PROSPECTIVE Newcastle Knights owner Nathan Tinkler enjoyed a hero's reception when he addressed the club's members at an information session at Newcastle Panthers club last night.Treated like the saviour he hopes to be, Tinkler was greeted with resounding applause as he explained his philanthropic passion to make the Knights part of a powerful "Team Newcastle" sporting super club which already includes the Jets A-League football team and will comprise National Basketball League and netball sides.About 800 Knights members attended the information session last night. Rather than be interrogated or ambushed by hostile anti-privatisation voters, Tinkler was embraced. The toughest question he was asked was why he twice withdrew his offer during the negotiation process with Knights chairman Rob Tew."That was very much about we were at a stalemate," Tinkler said. "We'd spent six or eight weeks of standing still on one or two points, and couldn't move forward. I felt like it was starting to feel like me pushing too hard for this to happen ... That's why I took the offer off the table. It was about members and the community saying, 'We want this to happen; we want to be on a strong financial footing and we want to have the ability to compete going forward' ... I think I put a great offer on the table, and I wanted the community and the Knights to recognise that, and I think that's where we are now."Tinkler Sports Group chairman Ken Edwards opened the meeting by outlining the key points of Tinkler's proposal, particularly the role members would play in a privatised Knights and how the club's "heritage rights" - colours, name, and home ground - would be protected.Edwards said the "once in a lifetime opportunity" included guaranteed annual sponsorship of $10 million for the next 10 years, backed by a bank guarantee of $20 million in each of the first two years and $10 million for the following eight. Existing Knights debts, estimated at $3.5 million to $4.6 million, would be cleared immediately.About 3000 eligible Knights members have the opportunity to vote on Tinkler's proposal on Thursday night at an extraordinary general meeting at Newcastle Entertainment Centre.
© 2011 Sydney Morning Herald
