By VANESSA BIDOIS
Dumped Tainui leader Sir Robert Mahuta has been trying to sell the struggling Warriors rugby league club without tribal authority, a financial adviser to the tribe has confirmed.
Sir Robert - who has been sacked as head of the Waikato tribe's cash-strapped corporate arms - is believed to have brokered an unsuccessful deal late last week to sell a half-share of the Auckland team for $100,000.
The agreement with a consortium of businessmen called The Yes Group included a write-off of the tribe's $6 million debt.
Tainui's main creditor, the Bank of New Zealand, has yet to decide whether to advance more money to alleviate a cashflow crisis. The iwi is unable to front up with an estimated $300,000 to pay Warriors staff and players this week.
It has spent $6.5 million to own two-thirds of the club. Co-owners Graham Lowe and Malcolm Boyle put up just $100,000 between them.
Tainui spokesman Shane Solomon could not be reached for comment last night.
The tribe's financial adviser, Michael Stiassny, from insolvency specialists Ferrier Hodgson, yesterday said he was "naturally" concerned by any unauthorised sale, which was headed off by the iwi executive, Tekaumarua.
The 12-strong executive are also directors of the Waikato Raupatu Lands Trust.
"The trustee company was aware that Sir Robert was attempting to have discussions with a party regarding the Warriors and took steps to deal with that," Mr Stiassny said.
"Everyone was aware that those discussions had no validity."
Asked if any bid for the Warriors had been accepted, Mr Stiassny - who has been overseas for several days - said, "I do not know about it if they have, but that does not mean they haven't."
The acting chairman of the Tekaumarua, Kingi Porima, said there was gossip about a sale which the executive knew nothing of.
"I put it down to a lot of rumour-mongering without foundation, certainly no foundation as far as we are concerned," Mr Porima said.
"We do not know anything about it yet."
The new-look Tekaumarua met on Friday to confirm its decision to strip Sir Robert, aged 61, of his corporate directorships but has delayed making a statement until today.
Threats of legal action to overturn the decision were made at hui held at Turangawaewae Marae in Ngaruawahia on Friday night, and Huntly's Waahi Marae on Saturday.
Both marae are tribal strongholds of Tainui's royal family, who have been rallying support for Sir Robert.
His daughter, Labour MP Nanaia Mahuta, who attended the meetings, said there were a "whole heap" of hui being convened by disgruntled tribal members.
"I am confident that the people are sufficiently concerned about the actions taken by Tekaumarua and the lack of consultation ... that they have mobilised themselves and called hui all over the place," Ms Mahuta said.
However, Mr Porima said he was aware of only the two special hui held on the weekend.
"The bottom line is I believe I am doing it for the 43,000 beneficiaries and if they do not want us, well, they can say so."
AdvertisementAdvertise with NZME.
Latest from New Zealand
'Loving father': Tributes for man who died after running into sea while fleeing police
Police say the man died after running 'into the sea in an effort to avoid arrest'.