Tinkler resolves Hunter Sports Group tax and management issues

With the NRL season about to kick off, mining magnate Nathan Tinkler has resolved a series of tax issues relating to his Hunter Sports Group's and its ownership of the Newcastle Knights.

The Federal Court recently dismissed two tax debt cases against the Hunter Sports Group (HSG) and the Knights, after settlements were reached between the parties.

However, a third tax debt case involving the Newcastle Jets A-League club was adjourned until 5th April along with other actions involving other businesses associated with Tinkler.

According to documents filed in the Federal Court in Sydney, the Knights owed more than $1.4 million to the tax office, the Jets owed just over $1 million, while Hunter Sports Group was $184,000 in the red.

The dismissal of the case against the Knights dispels fears over the club's future.

The Australian Taxation Office had applied for the Knights, the Jets and the Hunter Sports Group to be wound up due to unpaid debts.

Before Christmas, speculation that the Knights Members Club board would ask Tinkler to hand back the club's NRL licence was dispelled after HSG Chief Executive Troy Palmer, Knights Chief Executive Matt Gidley and coach Wayne Bennett addressed the board and did their best to allay members' fears.

The Knights Members Club were assured that all of HSG's creditors would be paid, and that an audit report into the Knights' 2012 financial operations would reveal HSG had met all requirements.

13th December 2012 - TAX OFFICE MOVES TO WIND UP HUNTER SPORTS GROUP OVER ALLEGED $2.7 MILLION DEBT