Apr 1, 2014

Once a shining Knight, Tinkler leaves a footy club in limbo

The plight of the Newcastle Knights will get worse before it gets better, with Nathan Tinkler likely to lose the team.

Paddy Manning

Crikey business editor

The predicament of rugby league’s Newcastle Knights highlights the pitfalls of privatising sporting teams, as former billionaire Nathan Tinkler yesterday failed — as predicted, despite bland reassurances to the contrary from his private company the Hunter Sports Group — to come up with a new $10.52 million bank guarantee to secure his ownership of the club.

Only days ago Tinkler’s right-hand man, HSG chief Troy Palmer, told The Newcastle Herald there was “not a problem” funding the guarantee by the March 31 deadline. Rubbish. As Crikey wrote last week, Tinkler’s broader financial position is dire, and the real mystery is how he has been able to hang on to his remaining assets so long.

Free Trial

Proudly annoying those in power since 2000.

Sign up for a FREE 21-day trial to keep reading and get the best of Crikey straight to your inbox

By starting a free trial, you agree to accept Crikey’s terms and conditions


Leave a comment

One thought on “Once a shining Knight, Tinkler leaves a footy club in limbo

  1. Itsarort

    A bit of the ‘Friday night televised game’ might help with the “…paucity of sponsors”, instead of the lion share going to selected clubs.

Share this article with a friend

Just fill out the fields below and we'll send your friend a link to this article along with a message from you.

Your details

Your friend's details