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  1. #1
    Administrator DIEHARD's Avatar
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    Lightbulb Titans Ownership

    A secret consortium of businessmen worth millions are planning the Gold Coast Titans’ revival

    Peter Badel
    The Daily Telegraph
    August 07, 2014 12:00AM

    A SECRET consortium of wealthy businessmen are formulating plans to invest in the Titans and lead the club’s revival following the departure of John Cartwright and Michael Searle.

    The Courier-Mail can reveal a team of Queensland-based executives are keen to meet with the Titans board to discuss investment options to make the club an NRL powerhouse.

    One option is to buy out Searle, who despite his resignation remains the Titans’ largest shareholder, having outlaid $4.56 million for a 40.6pc stake of the club he built.

    Money is not an impediment for the consortium, who collectively are worth several millions after accruing personal wealth in the finance and banking industries.

    The businessmen wish to remain anonymous but are serious about their investment plan, first meeting with the NRL two years ago during the Titans’ $25m debt crisis.

    A fresh bid was launched six weeks ago, with a consortium chief enlisting the help of former Queensland Origin lock Scott Sattler, who was the Titans’ foundation football manager.

    The cluster of senior executives will look to meet with Titans hierarchy in the coming weeks to gauge the board’s interest in their involvement.

    “Over the last few weeks, they have made fresh contact to once again be positioned to talk about possible investment into the Titans,” Sattler said on Wednesday night.

    “This is not a takeover bid. This is about where they can fit into the puzzle to take the Titans forward as a great NRL franchise.

    “Basically, they would like to talk to the right people, whether that be Bec Frizelle or Darryl Kelly (Titans co-owner).

    “They are interested in buying into an NRL club and they see a lot of potential in the Titans.

    “I guess with my past links to the Titans, I understand the Gold Coast landscape. They wanted to pick my brain on several key facets, including recruitment, the community and the operational matrix of an NRL club.”

    The financial heavy-hitters first attempted to buy the Titans in 2012. At the time, the Titans were drowning in debt and the consortium engaged Scott Hill, the former Melbourne and NSW pivot who has links with one of the executives.

    Hill contacted Sattler to relay their interest and a meeting was set-up with an NRL representative, but the governing body was reluctant to strip Searle of the Titans licence.

    “They met with the NRL representative,” Sattler said.

    “Discussions were built around how to engage the community, whether they would accept the Titans name and whether would they invest with or without Michael Searle.

    “It was at a time when the licence was in question, but the NRL didn’t want to walk away from the Titans brand.

    “Hopefully, they can get another look in for some involvement. These businessmen are genuine about helping the Titans and they have serious business acumen.”
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  2. #2
    Moderator Bayside Titan's Avatar
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    Just read that article. For the sake of the club I hope that this is true and does happen.

  3. #3
    Captain Toads's Avatar
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    One option is to buy out Searle, who despite his resignation remains the Titans’ largest shareholder, having outlaid $4.56 million for a 40.6pc stake of the club he built.
    This has to happen, and it has to happen well before the start of the 2015 season. It's the only hurdle for me before I commit to purchasing family memberships again.

    Yes, Searle has done a lot of good for the Club. But he has also left a bad taste in a few people's mouths along the way as well.

  4. #4
    Super Moderator TITAN PETE's Avatar
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    Well who'd of thought that could possibly happen...

    #DCE
    #itaintweaktospeak

  5. #5
    Immortal Titanic's Avatar
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    Money is not an impediment for the consortium, who collectively are worth several millions after accruing personal wealth in the finance and banking industries.
    Badel at his best ... they would want to be worth more than that to even have a look in.
    Four reasons to escape to Queensland: Sun, Surf, Sand & the Titans.

  6. #6
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    Quote Originally Posted by TITAN PETE View Post
    Well who'd of thought that could possibly happen...

    #DCE
    Bwahahahaha again, DCE wont be leaving Brooky
    Kumuls Up !!! RLWC 2017

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  7. #7
    Moderator lonegull's Avatar
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    Interesting article, funny how this has surfaced again with Searle's resignation. Will be following this with interest

  8. #8
    Moderator JunctionBlock's Avatar
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    Heard this on the radio this morning then read the article. I hope this is true and not just another piece of recycled journalism.

    Hope we can find a way to get a transient population to support their local team. Suns seem to be having success with "...make the suns your second team and support the sport." Plus the Suns are advertise and allow their players and media managers to have contact with all radio stations on the Gold Coast making them more accessible.

  9. #9
    Administrator DIEHARD's Avatar
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    Gold Coast Titans owner open to more investors to keep club financially viable

    TITANS co-owner Darryl Kelly has cast doubts over the future involvement of fellow stakeholder Anshuman Magazine after revealing he was open to offers from investors wanting to help save the club.

    As revealed in The Courier-Mail on Thursday, a secret consortium wants to buy into the Gold Coast franchise after a watershed week for the club that saw club stalwarts John Cartwright and Michael Searle depart.

    Kelly acted as interim CEO following David May’s resignation in 2012 and his capital injection, of at least $3.87 million, has been crucial in keeping the Titans afloat.

    According to Australian Securities and Investments Commission documents, Searle owns 40.6 per cent of Gold Coast Titans Pty Ltd.

    Kelly has a 34.4 per cent share while the remaining 25 per cent is held by Indian property tycoon Anshuman Magazine, who is yet to fully pay for his ownership.

    Kelly said he wasn’t sure about Magazine’s future in the club.

    “I haven’t spoken to Anshuman for four months. I don’t know where he sits,” said Kelly, a businessman who hails from Wagga Wagga.

    “I thought he might have pulled the pin before this to tell you the truth.

    “I never understood the reason for his investment and still don’t.

    “It was unusual enough a guy from Wagga had to step in and help save the Titans, let alone a guy from India.”

    Magazine has been somewhat of a silent investor, choosing to not hold a seat on the board and rarely have input in decisions.

    Kelly is now part of a three-person board of directors, which is expected to grow in the near future, and has scaled back his involvement in the club following the appointment of Graham Annesley as CEO.

    Searle has relinquished all power at the club but Kelly said he was unsure if the former managing director planned to sell his share.

    “I can’t really speak for him but this process he’s gone through to get to where he is now by standing down from the board is a huge step back,” he said.

    “He’ll look at it rationally like anyone else would.

    “There’s no doubt Michael and Carty, both the guys who have gone, only have the best interests of the Titans at heart.

    “The decision will be made by Michael on that basis.”

    Kelly said he was approached “about 18 months ago” by possible investors and would consider all proposals.

    “I was approached about 18 months ago supposedly by some people who had investors behind them who were interested in talking to us about ownership or part ownership of the club,” he said.

    “I have not heard anything since. Put something on the table and we’ll consider it.

    “I don’t mind sharing the load. I never intended to be as heavily involved in the football club as I am.

    “I got involved to try and save the club. I didn’t expect to do it basically on my own.”

    http://www.couriermail.com.au/sport/nrl
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    Moejoe: "REMEMBER!!!! SLIP - SLOP - SLAP in the sun. Skin Cancer is a growing problem. It could happen to anyone!!"
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  10. #10
    Immortal Titanic's Avatar
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    you can see from this that Searle holds the aces, dabbles in the football and leaves the heavy lifting to Kelly ... now that's the form I've been talking about ... an opportunist.
    Four reasons to escape to Queensland: Sun, Surf, Sand & the Titans.

  11. #11
    Captain Toads's Avatar
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    What gets me is how did Searle acquire more shares recently to top his ownership in the Club to 40.6%, when the Club is meant to be struggling financially. It's these sort of shifty undertones that don't have me totally sold on the idea that Searle has relenquished all control of the Titans.

    I'm sorry, but no one is going to convince me that a majority shareholder is not going to try 'n have some influence in Board/Club decisions in the future, especially when they've been the CEO, Board Member etc, previously. It's why I'm not convinced that this is a complete new era for the Club just yet.

    Until someone else (or entity) is the new majority shareholder, I'll have some doubts about it..
    Last edited by Toads; 09-08-14 at 02:20 AM.

  12. #12
    Immortal Titanic's Avatar
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    exactly my point ... caution here everybody
    Four reasons to escape to Queensland: Sun, Surf, Sand & the Titans.

  13. #13
    Administrator DIEHARD's Avatar
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    This consortium has my full support. I hope they can manage to get involved and help Daryl Kelly out, who also deserves all our support and more.
    PUT EM TO THE SWORD! SHOW SOME STEEL!

    Moejoe: "REMEMBER!!!! SLIP - SLOP - SLAP in the sun. Skin Cancer is a growing problem. It could happen to anyone!!"
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  14. #14
    Moderator Bayside Titan's Avatar
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    I will give the new consortium my support as well.

    In the article from Kelly it heartened me to read that Kelly seems like he is open to offers to buy in. This to me is a strong message or sign that Michael Searle's preference or need to have people around him that are yes men.

  15. #15
    Immortal Titanic's Avatar
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    From my point of view, the club is into Searle for reportedly 5-6 million, so he won't walk away from that easily and 40% wouldn't be worth that at the moment … it would be a hard sell.
    Four reasons to escape to Queensland: Sun, Surf, Sand & the Titans.


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