NATHAN Tinkler's decision to sell his $250 million Patinack Farm racing operation will benefit the Newcastle Knights, Tinkler Group says.
Tinkler today announced he would embark on a three-month process to find a buyer for Patinack Farm as his business empire battles crippling debts from failing mining industry ventures.
The sale will allow Tinkler to focus his sporting interests on the Knights and A-League side the Jets, which are both owned by the Tinkler Group.
"This sale has been undertaken to enable the Tinkler Group to concentrate on its core operations in resources, infrastructure and building along with the group’s key passions, the Newcastle Knights and Newcastle Jets," Tinkler Group said in a statement.
"The sale will have no impact on the running of both teams."
Tinkler is the biggest single investor in the thoroughbred industry with more than 400 racehorses in training and over 500 broodmares, yearlings and foals
Nathan Tinkler. Picture: Attila Szilvasi
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