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OrangeArmy

Years ago

Nathan Tinkler's decline

Billionare with billion dollar debts - everything he owned he had to borrow money to get it. When he bought his first mine for $500k (really just a mining lease), he hung onto it and then sold it a few years later for several hundred million during the coal boom. Fast forward till now, he has bought and sold other mines/leases and what cash he made he plunged into horse racing, Newcastle Knights etc which have no cash flow to pay the loan back to the banks.

Now he is trying to sell these assets to get some cash back, no one is buying. So while he has say $2 billion in paper valued assets, if no one buys them or they dont generate cash, he defaults and goes bankrupt.

And there endth the lesson *Sean Connery voice*

Sad if it pans out that way for the sports / communities he helped along the way.

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Natwhereyouat

Years ago

You'd be surprised how many NBA players go broke 10 years after retirement

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Natwhereyouat

Years ago

He/his management group have always dodged people and burnt bridges. At first i was all for him, until i had some talks with people within his sports management circle, now im glad the NBL never took him up on his offer.

Reply #378209 Report this topic

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Nathan Tinkler's decline

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