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  1. #1
    Super Moderator TITAN PETE's Avatar
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    Default HEAVY HITTERS LINE UP BID TO BUY TITANS

    Titans
    August 17, 2014 02
    A CONSORTIUM of high-powered investors is repositioning itself to make a play for the Gold Coast’s NRL licence.

    Representatives of the group, which is being advised by former Titans football manager Scott Sattler, previously met with an NRL official in 2012 on the day former NRL CEO David Gallop resigned.

    At the time, the NRL was investigating options in case the Titans collapsed because of the financial difficulties they were experiencing.

    The consortium, understood to have had $15 million in start-up capital when it initially approached the NRL, has representatives who are experienced in business, marketing and football operations.

    In 2012 the Titans’ NRL licence was transferred from a Michael Searle-controlled entity to Darrkell Pty Ltd, a company owned by Gold Coast businessman Darryl Kelly.

    Searle retains a 40.6 per cent stake in the Titans, while Kelly holds 34.4 per cent and Indian businessman Anshuman Magazine 25 per cent. The Titans now have a board, a respected CEO in Graham Annesley and have cleared debt that was tied to the Centre of Excellence fiasco.

    But the Sattler-advised consortium has been concerned about the Titans’ dwindling crowds, failure to play finals football since 2010 and lingering question marks over the club’s support in the community.

    Sattler stresses that the group is interested in a collaborative approach and would be willing to work with key stakeholders in the Titans, including Kelly.

    “Four or five weeks ago I was contacted by a representative of this group about the possibility of again getting to a position where they could . . . become involved,” Sattler tells RLW.

    “It has never been about walking in and taking over the Titans.

    “It is about being in a position to see what options may lie ahead and investigating the possibility of establishing a Gold Coast model they could enhance, advance and turn into a very profitable one.”

    Sattler, who also played for the Gold Coast Chargers and Seagulls, says the motive behind his involvement is to see an NRL side on the Gold Coast thrive long term.

    He has been dismayed by the club’s failure to kick on after its success of 2009 and 2010 and by the constant off-field upheavals that have recently culminated in the NRL investigating a possible $400,000 salary cap breach.

    “For me, it is about this question: Has the Northern Rivers and Gold Coast community lost faith in the brand? If they have, what do we then need to do collectively to make sure that credibility and crowds can return, so the Gold Coast can be a success moving forward?” he says.

    “This is about finding a solution to put the team on the front foot again.

    “Michael Searle said from day one the Titans would be playing finals football within five years, and the club did.

    “Now it is about asking what needs to be introduced and what changes are needed, so the Titans can go to the next level and be competitive on and off the field.

    “The Gold Coast Suns (AFL club) at the moment don’t see the Titans as a threat — and that is a worry.”

    The NRL has made it clear that correct corporate governance is a

    prerequisite to retaining an NRL licence, but there is no suggestion the Titans have breached any regulations. Nor is there a suggestion the Titans aren’t financial.

    But, as there have already been four incarnations of top-level Gold Coast league teams since 1988, the question of ownership will always be in play.
    #itaintweaktospeak

  2. #2
    Moderator Bayside Titan's Avatar
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    IMO this transaction needs to happen in the next few weeks or before the finals start. This allows the club to to go out and make key appointments in the Football department. To me a few quality assistant coaches are a must. I would look to see how we can get a few well respected ex players involved in Brad Thorn and Steve Price.

    Also I would love to see if the club can engage David May in some way to help mend the brand as well? Just a few thoughts.

  3. #3
    Administrator DIEHARD's Avatar
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    I'd love to see this happen and agree with the need for it to happen very soon.

    I laughed a bit when it said we now have a respected CEO. Well we had the best in the business with Dsvid May. I didn't think that read well.

    I personally like Scott Sattler and would like him to be involved.
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  4. #4

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    i heard that the titans hosted people from the building community for a function before todays game to start mending bridges for past differences.

    that is a positive start.

  5. #5
    Moderator lonegull's Avatar
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    Quote Originally Posted by DavidBouveng View Post
    i heard that the titans hosted people from the building community for a function before todays game to start mending bridges for past differences.

    that is a positive start.
    How good is that, seems to be a positive vibe at moment and at least Managment now are trying to fix
    Bridges that may of been burnt earlier

  6. #6

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    Quote Originally Posted by DavidBouveng View Post
    i heard that the titans hosted people from the building community for a function before todays game to start mending bridges for past differences.

    that is a positive start.
    I think you might be right DB. I sit right near where the people come out from the function room and there seemed to be a lot more business looking people there. There were a few people that I vaguely know as builders and developers. Also some of the corporate boxes near me that are often empty were leased today.

    However, I get very nervous when I hear business people (particularly those from the Gold Coast) want to buy in. I immediately think of fools like Clive Palmer etc who buy clubs as their personal toy and think eff all of the real supporters like the people on here. Lets face it, you don't buy a footy club to make money and when it's all said and done most business people don't like copping a loss. If business people buy in there needs to be safeguards. I am a member of the Manly Football Club (not the Leagues Club) and we control what is called a preference share which ensures members control the teams colours, logo, and most importantly where they play.
    Last edited by Mexican titan; 17-08-14 at 06:42 PM.

  7. #7
    Captain Toads's Avatar
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    Yup, It'd be nice to have a $1 buy back option like the Knights had. But I'm not sure how that could be written in considering how we're structured.

    Come to think of it, that idea would never work for us. As Searle has done a good job of keeping the Fan Base at arms length (i.e. no Clubhouse or Members being able to buy in, but instead, build the Centre of Extravagance for his own/clubs purpose).

  8. #8
    Immortal Titanic's Avatar
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    restructure with the Bears, then attract the investors with a buy back option.
    Four reasons to escape to Queensland: Sun, Surf, Sand & the Titans.

  9. #9
    Captain Toads's Avatar
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    Quote Originally Posted by Titanic View Post
    restructure with the Bears, then attract the investors with a buy back option.
    There ya go. I knew someone with a bit (more than myself) between their ears could find a solution.

  10. #10
    Coach Coaster's Avatar
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    Not all Gold coast business people are twats haha
    Quote Originally Posted by Titus View Post
    When I am unable to respect and accept the decisions that are being made that directly affect my team, then I must take a backwards step.

  11. #11
    Immortal Titanic's Avatar
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    wishful thinking but imagine a club with history, a clubhouse and local respect? Is it too much to ask?
    Four reasons to escape to Queensland: Sun, Surf, Sand & the Titans.

  12. #12
    Captain Toads's Avatar
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    That's the disappointing thing about our history. If it was done properly from the get go, it would possibly be one of the top 6 franchises in the Comp. The Rugby League numbers (fans) are already on the Coast and surrounds. It just needs/needed to be structured properly to attract them..

    How nice it would be to cross "Walking into the main foyer of the Titans Clubhouse" off my bucket list.


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