A-league ‘club’ Newcastle Jets and NRL ‘club’ Newcastle Knights must be wondering about their futures. Revelations in The Age that owner and ‘coal baron’ Nathan Tinkler is struggling to pay the maintenance bills on his hefty string of thoroughbreds amidst market turnarounds can only be disquieting.
AussieRulesBlog noted recently when Tinkler took on the two Newcastle-based teams that the AFL had (hopefully) learned its lesson with the Edelsten and Skase fiascos.
The simple fact is that Tinkler’s supposed ‘wealth’ was largely calculated on the back of his stockholdings and anyone with a shred of commonsense knows that the lemmings in the equities markets aren’t loathe to pull the pin if they smell even a tiny loss.
AFL fans should be grateful every time we read a story about Tinkler or former Gold Coast A-League owner Clive Palmer.
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