titanstattman
17-11-08, 03:07 PM
Luke Turgeon
November 15th, 2008
GOLD Coast boss Michael Searle concedes the Titans are feeling the pressure in the current economic climate, but is confident they are well placed to weather the storm.
As the news surfaced yesterday from Sydney that the Cronulla Sharks were on the verge of going broke, Searle moved to reassure Gold Coast fans he was doing everything possible to secure their club's financial future.
In the face of the global economic crisis, the Titans have trimmed $1.6 million off their budget for 2009, which is about 7 per cent of their operating expenditure. There are plans for more cost cutting.
"There is pressure on every club at the moment," said Searle. "The challenge that we have is we need to reduce costs, as all businesses are. It (reducing costs) is coming from all areas of the business, the football department, sponsorship department, marketing and finance. That is a thing you have to do in tough times.
"There are going to be significant pressures on sport and anyone that suggests anything to the contrary is naive. It will get worse before it gets better."
Searle said the Titans relied on a different business model to the Sharks and several other Sydney clubs who were currently experiencing intense financial strain.
Most NSW clubs have been hit hard by changes to poker machine tax laws south of the border, which have seen a dramatic decrease in revenue from associated leagues clubs.
The Titans have no leagues club and rely mostly on community support in the form of memberships, sponsorship and corporate hospitality.
All major sponsorship deals are locked in until at least the end of 2009.
But with many other Coast businesses feeling the pinch, Searle said the Titans had developed a plan to ensure corporate hospitality remained strong next season.
The Titans operated at a loss in 2007, largely due to playing out of Gold Coast Stadium at Carrara, and made a 'small profit' in 2008.
CRONULLA chief executive Tony Zappia has moved to assure fans of the NRL club's future, saying the Sharks are not broke and will never move from Sutherland shire.
Zappia insists the situation is not that dire and quelled fears they would investigate the NRL's multi-million dollar package for relocation to the Central Coast.
"In terms of players not being paid that is incorrect, absolutely incorrect," he said.
www.goldcoast.com
November 15th, 2008
GOLD Coast boss Michael Searle concedes the Titans are feeling the pressure in the current economic climate, but is confident they are well placed to weather the storm.
As the news surfaced yesterday from Sydney that the Cronulla Sharks were on the verge of going broke, Searle moved to reassure Gold Coast fans he was doing everything possible to secure their club's financial future.
In the face of the global economic crisis, the Titans have trimmed $1.6 million off their budget for 2009, which is about 7 per cent of their operating expenditure. There are plans for more cost cutting.
"There is pressure on every club at the moment," said Searle. "The challenge that we have is we need to reduce costs, as all businesses are. It (reducing costs) is coming from all areas of the business, the football department, sponsorship department, marketing and finance. That is a thing you have to do in tough times.
"There are going to be significant pressures on sport and anyone that suggests anything to the contrary is naive. It will get worse before it gets better."
Searle said the Titans relied on a different business model to the Sharks and several other Sydney clubs who were currently experiencing intense financial strain.
Most NSW clubs have been hit hard by changes to poker machine tax laws south of the border, which have seen a dramatic decrease in revenue from associated leagues clubs.
The Titans have no leagues club and rely mostly on community support in the form of memberships, sponsorship and corporate hospitality.
All major sponsorship deals are locked in until at least the end of 2009.
But with many other Coast businesses feeling the pinch, Searle said the Titans had developed a plan to ensure corporate hospitality remained strong next season.
The Titans operated at a loss in 2007, largely due to playing out of Gold Coast Stadium at Carrara, and made a 'small profit' in 2008.
CRONULLA chief executive Tony Zappia has moved to assure fans of the NRL club's future, saying the Sharks are not broke and will never move from Sutherland shire.
Zappia insists the situation is not that dire and quelled fears they would investigate the NRL's multi-million dollar package for relocation to the Central Coast.
"In terms of players not being paid that is incorrect, absolutely incorrect," he said.
www.goldcoast.com