'I'll Still Be Mates With Gerry': Tinkler
- Friday, 22 August 2014 07:59
Nathan Tinkler expects his friendship with Gerry Harvey to survive despite the retail king calling in a multi-million dollar debt over unpaid bloodstock purchases.
Tinkler owes Harvey a reported $40 million with the former mining baron confirming he will walk away from racing when his entire thoroughbred portfolio goes under the hammer next month.
"I got to know Gerry through the horse game and I'd like to think it will be one relationship I'll keep when I'm out of the horse game," Tinkler said.
"He's been a good supporter of mine. He's offered advice and sometimes I've taken it and sometimes I haven't."
Tinkler said Harvey agreed it was in his best interests to end a whirlwind six-year involvement in thoroughbreds and his stock will be sold through the Harvey-owned Magic Millions company.
"There's never been any secret over the last year or two that I wanted to get out," Tinkler told Sky Sports Radio.
"I've had (Patinack Farm) for sale for some time and I want to get out and Gerry supports that and thinks I should get out and that's what I'm doing."
Tinkler was worth almost $2 billion when his horse racing empire was at its peak with 200 staff on the Patinack Farm books.
He invested heavily in properties in NSW, Queensland and Victoria to support an expanding racing and breeding interests.
But financial pressures attributed to the collapse in the price of coal also placed a significant strain on the day-to-day running of Patinack Farm.
"There's no doubt my financial situation's changed but even if it was stronger I wouldn't be putting my money in that direction," Tinkler, who now lives in Singapore with his young family, said.
"I was young when I made those decisions and grew a business too fast. We all make mistakes along the way. I'm not immune to that."
A former electrician who enjoyed a meteoric rise in the mining industry, Tinkler said he was not disillusioned with racing despite his troubles.
"I've always enjoyed racing. I started with that and I'm leaving with that," he said.
"Sitting around every Wednesday and Saturday to watch 30 runners go around each day is no longer in my diary," he said. "It's not a priority for me any more."
