First off, I like the idea you're going with it. Simple, not too flashy. The layout depends more on boxes with solid lines than on bright, colorful images. It's very minimal and it's a good choice of colors. It all looks good.
The biggest problems are with the layout. It's way too big. Here's how it looked like when I first clicked on it on a non-maximized browser window taking up around 70% of my screen:
http://d.pr/i/qLN1The top image is too huge. It forces anyone without a huge screen to scroll down to start looking at any content. Also, there's a leg coming out of nowhere. Even after maximizing the window, my screen is not wide enough to make the leg connect to anything. (My screen is 1280 pixels wide.)
There is way too much spacing between all the layout elements. The menu on the left could go more to the left. There is way too much spacing between the menu and the content. On the other hand, there's very little spacing in the box where you'd be posting the news. The letters are way too close to the borders. Just a few pixels of spacing could fix that.
I like the overall idea you have for it. Just don't assume that everyone who will look at it has a widescreen monitor.
Edit: I noticed something else - as well as the top banner being too tall, it has other problems. Link's right hand (holding the sword) is covering Romani's face. All the characters on the right side are too close together and it looks cramped. On the left side, Cremia is much larger than (character on the left whose name I can't remember), and yet she's supposed to be behind him.
