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Troubled times ... has Nathan Tinkler stretched himself too far? Source: Liam Driver / News Limited
Nathan Tinkler's Hunter Sports Group insists it is "business as usual" despite the Australian Tax Office moving to wind up Newcastle Knights and Newcastle Jets over unpaid debts.
Federal Court documents filed in Sydney on Wednesday revealed the Deputy Commissioner of Taxation had applied to have Hunter Sports Group, Newcastle Jets Pty Ltd and Newcastle Knights Pty Ltd wound up over unpaid debts of approximately $2.7 million.
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A spokesperson for Tinkler said he expected the outstanding amount to be paid in the next week.
"We are surprised we have not received any documents," the spokesperson said.
A hearing has been set for February 20. The spokesperson said it was expected the ATO would be repaid in full well ahead of that date.
The ATO's move against Tinkler's sporting operations is the latest blow to the Singapore-based mining magnate.
Two of Tinkler's companies, Mulsanne Resources and Patinack Farm Administration, are currently in receivership.
His personal jet and helicopter have been repossessed and his luxury suite at ANZ Stadium handed back.
Tinkler last month said that the Knights and the Jets were "safe and secure", but admitted he was prepared to walk away from his racing venture, Patinack Farm, for the right price.
"Both clubs are very close to my heart, they are community-based, and I don't need to have a lot to do with the clubs," Tinkler said.
"There are no financial issues with either club, they are safe and secure, they are all fine.
"Racehorses take management, man hours, lots of people, all those sort of things. Fortunately, there is no manes on most of those footy players so they can think and speak for themselves.
"The footy clubs are a much easier business to manage - horses is just massive, the money is massive, everything is just too hard."
The NRL has also released a statement saying it had safeguards in place to ensure the survival of the Knights, interim chief executive Shane Mattiske said he was confident the future of the Knights was not under threat.
"In relation to the ownership by Hunter Sports Group, guarantees have been put in place by the Commission to safeguard the Knights position,'' Mattiske said.
"Those safeguards were a condition of ownership and are there to ensure the club's future.''
A $20 million bank guarantee was a condition of Tinkler's privatisation of the club.
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