Hunter Sports Group in breach of 'binding agreement' for use of Newcastle's Hunter Stadium

While the financial media focus on mining investor Nathan Tinkler's corporate troubles, it appears that his Hunter Sports Group (HSG) is in breach of a "binding agreement" with the NSW Government by having apparently failed to pay almost $600,000 for the use of Newcastle's Hunter Stadium.

While Venues NSW, the NSW Government agency which manages the former EnergyAustralia Stadium, has vowed to take action to recoup its money, HSG says it has paid some of the $1.2 million for use of Stadium by the Newcastle Knights and the Newcastle Jets as "an act of good faith" after "frustrating" negotiations.

HSG and Venues NSW have been negotiating for months over the debt, with HSG disputing the accuracy of charges.

HSG are reported to be using the payment of the outstanding amount as a bargaining chip in negotiations for a new 10-year access agreement for the Stadium.

Earlier this month an HSG spokesman said a initial payment had been made as "an act of good faith following a frustrating nine-month negotiation", adding that the remainder would be paid "on completion of a new agreement."

A spokeswoman for Venues NSW differed stating "in mid-October Hunter Sports Group and Venues NSW signed a binding legal agreement to settle the undisputed debt ... of which $300,000 has been paid.

"This legal agreement was not linked in any way to the negotiation of a new stadium hiring agreement."

2nd May 2012 - HUNTER SPORTS GROUP TO RETAIN A-LEAGUE LICENCE