Illustration: John Shakespeare.
It was Mr Tinkler’s big punt on thoroughbred racing that soaked up most of the fortune he made from coal during the resources boom.
He squandered millions more buying up Newcastle’s major sports teams such as the NRL’s Newcastle Knights and the FFA’s Newcastle Jets, which was the last part of his sporting empire to fall in an all too familiar fashion. His A League licence for the club was cancelled in May last year after the fallen mining tycoon placed the club into voluntary administration, listing debts of $2.7 million.
The bankruptcy has derailed his great coal comeback, forcing Mr Tinkler to stand down from Australian Pacific Coal last month. He is now banned from being a company director in Australia….
