Nathan Tinkler’s money woes have been revealed by his Patinack Farm trainer John Thompson in the aftermath of Nechita’s win in the Group one Coolmore Stud Stakes at Flemington on Saturday.
Tinkler last week claimed he was the victim of “a massive media campaign to try and ruin me” over continued speculation on his money problems. Tinkler even compared his treatment to that of disgraced businessman and fugitive Christopher Skase.
But in speaking of the difficulties he had overcome in training Nechita to the win, Thompson laid Tinkler’s problems bare, including how he had ran out of feed “a number of times” and gone weeks without farriers and bedding.
“The last few months has been pretty tough for the guys at Patinack Farm,” Thompson told Sky Sports Radio on Sunday.
“Things have been a bit tight with Nathan and his business, and you see the comments he made in the paper through the week. They are probably money orientated.
“But I think going forward he will come through the other end. I have good faith in him and he is very confident things are going to happen.”
Thompson said cash flow problems in the business had affected him “to an extent you wouldn’t believe”.
“I have gone weeks without farriers, bedding, run out of feed a number of times,” he said.
“It’s a cash flow problem. Nathan is obviously very wealthy but it’s all paper sort of value.
“He has always suffered from owning a business that doesn’t have that cash flow and it is that cash flow that pays the bills.
“In the last 12 months we have just basically been relying on prizemoney.
Tinkler’s estimated wealth has reportedly shrunk dramatically over the last year amid rumours he has struggled to pay his bills on time, including falling behind in payments to the NSW government for rent owned on Hunter Stadium, the home ground of the Knights and the Jets.
“Nathan has got things in store that will fix those problems,” Thompson said.
“But in this period of time we have done it very tough.
“We have had to close a stable at Hawkesbury this week. The owner of the property just got sick of us being late with our rent and asked us to move out, unfortunately we had to.
“That’s just one example.”
Last week Tinkler denied he was on the verge of financial collapse.
“All I will say is that tough people last, tough times don’t,” he told the Australian Financial Review.
“There’s been a massive media campaign to try and ruin me … They wanted to treat me like Christopher Skase, like I was sitting in a wheelchair puffing in a bag and owed $250 million. It is just not the case.”