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  1. #1
    Star Player Titan4Life's Avatar
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    Default Michael Searle says he's ready to sell his shareholding in the club

    Titans founder Michael Searle says he’s ready to sell his $4.4m shareholding in the club
    PETER BADEL EXCLUSIVE
    The Courier-Mail
    February 05, 2015 12:00AM

    MICHAEL Searle is set to sever his last links with Gold Coast rugby league, with the former Titans boss ready to sell his $4.4 million shareholding in the club he helped create.

    The Courier-Mail can reveal Searle has advised the Titans board he is prepared to offload his stake to potential investors as the club fights to attract sponsors in a volatile commercial market.

    Speculation on Wednesday suggested the NRL was ready to step in and take over the Titans’ licence amid fresh concerns over the club’s financial health.

    But Titans chairwoman Rebecca Frizelle vehemently denied the Coast are in strife, saying the club’s board, including white-knight investor Darryl Kelly, is committed to their survival.

    Searle, who clinched the Titans’ licence in 2005, resigned as a board member last August, but has maintained a presence at the club via his 39.1 per cent shareholding.

    Many potential sponsors have viewed the Titans as a damaged brand since Searle, as former managing director, presided over a $25m debt which nearly bankrupted the club in 2013.

    However, on Wednesday Searle confirmed he is prepared to sell his shares, via company GCT Investments, in a move that would terminate his 10-year association with the Titans.

    “If approached, we would consider a sale or even a dilution if a new investor wanted to get involved in the Titans,” said Searle, who once held as much as 80 per cent of the club’s shareholding.

    “I only ever got involved with setting the club up to bring rugby league and the NRL back to the Gold Coast.
    “We just want to see the club and rugby league succeed and prosper on the Gold Coast and Northern NSW for many years to come.”

    The Titans’ shareholding has undergone a number of changes in recent years.

    Searle is currently the club’s second-largest stakeholder with 42,584 of 109,000 shares, comprising a total value of $11.26 million.

    Kelly is now the club’s largest shareholder with 47.2 per cent, leaving India-based Ashuman Magazine with a 13.7pc share.

    Searle’s stake is valued at roughly $4.4m, a figure at which potential investors may baulk at given the Titans’ recent on and off-field struggles.

    But with the club clearing the decks and preparing to rebuild its playing roster around Manly superstar Daly Cherry-Evans, as revealed exclusively by The Courier-Mail on Wednesday, better days may be ahead.
    Frizelle said the Titans board would welcome any prospective investment but dismissed fears the NRL’s 16th team is in danger of going broke.

    “We are not going anywhere and we have the support of the NRL,” she said.

    “We are doing it tough financially, but we are not the only NRL club finding it hard and I’ve had conversations this week with four potential sponsors.

    “We are happy to talk to people who want to invest in the Titans and further strengthen it on the Coast.

    “There was an absolute lack of trust in the Titans, but under the new board, our guiding principle has been openness and transparency.

    “The baseline is we aren’t going anywhere ... the more people who want to get involved can only make us stronger.”

  2. #2
    First Grader Smakked's Avatar
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    ****ing Awesome and about time
    This year will be BLUE Go NSW!

    Quote Originally Posted by Toads View Post
    Prince lost of his shine when Matty Rogers retired. Matty used to make him look good (IMO).

  3. #3
    Rep Player ozynorts's Avatar
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    Zippedy do da, zippedy aaa, my o my what a wonderful day......

  4. #4
    Moderator Bayside Titan's Avatar
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    Now just need those so called investors that Scott Hill and Scott Sattler were fronting and put there money where there mouth is now.
    #TitansThruNThru #WeAreReady

  5. #5
    Junior
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    Enter Marwan Koukash stage left....
    Call me Mr Stupid but...

  6. #6
    Super Moderator TITAN PETE's Avatar
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    This would be the final thing needed to bring back the confidence in the people to come back to Skilled
    #itaintweaktospeak

  7. #7
    Captain Toads's Avatar
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    If this does eventuate, it'll drastically affect my post count (here), as I'll have nothing to whinge about..

    That aside, it is great news. Though being the eternal pessimist, I'm not going to believe it until it's a done deal.

  8. #8
    Moderator Bayside Titan's Avatar
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    Quote Originally Posted by Mr Stupid View Post
    Enter Marwan Koukash stage left....
    Do you know something we don't?
    #TitansThruNThru #WeAreReady

  9. #9
    Immortal Titanic's Avatar
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    Quote Originally Posted by Toads View Post
    If this does eventuate, it'll drastically affect my post count (here), as I'll have nothing to whinge about..

    That aside, it is great news. Though being the eternal pessimist, I'm not going to believe it until it's a done deal.
    And I'll raise you this one, Balls ... if he's pulling the pin then we must really be in strife.
    Four reasons to escape to Queensland: Sun, Surf, Sand & the Titans.

  10. #10
    Moderator Bayside Titan's Avatar
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    Quote Originally Posted by Titanic View Post
    And I'll raise you this one, Balls ... if he's pulling the pin then we must really be in strife.
    I never thought of it that way. But you could be right. My thought or hope for a better word was that the Titans has someone to invest but won't do so until Searle is gone. I guess your thought also gives weight to the comment where " Speculation on Wednesday suggested the NRL was ready to step in and take over the Titans’ licence amid fresh concerns over the club’s financial health..

    I guess time will tell and we will find out soon.
    #TitansThruNThru #WeAreReady

  11. #11

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    Quote Originally Posted by Mr Stupid View Post
    Enter Marwan Koukash stage left....
    No thanks. I think Koukash is only interested in complete ownership. If you believe that is a good idea just think Clive Palmer.

    - - - Updated - - -

    Quote Originally Posted by TITAN PETE View Post
    This would be the final thing needed to bring back the confidence in the people to come back to Skilled
    Even back to CBus as well!

  12. #12
    Junior
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    Quote Originally Posted by Bayside Titans View Post
    Do you know something we don't?
    No, but wasn't he prepared to buy a 20% stake in the Broncos. You'd have to imagine 40% of another club would be a good start for his aspirations, particularly if there were conditions that allowed him influence over the direction/selections of the club.
    Call me Mr Stupid but...

  13. #13
    Super Moderator TITAN PETE's Avatar
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    Quote Originally Posted by Mexican titan View Post
    No thanks. I think Koukash is only interested in complete ownership. If you believe that is a good idea just think Clive Palmer.

    - - - Updated - - -



    Even back to CBus as well!
    No mate it will always be Skilled to me
    #itaintweaktospeak

  14. #14
    Immortal Titanic's Avatar
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    Quote Originally Posted by TITAN PETE View Post
    No mate it will always be Skilled to me
    An oxymoron if I ever saw one using Skilled and Titans in the one sentence.
    Four reasons to escape to Queensland: Sun, Surf, Sand & the Titans.

  15. #15
    Moderator Bayside Titan's Avatar
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    Michael Searle will remain at Gold Coast Titans for a long time to come.
    TRAVIS MEYN COMMENT
    GOLD COAST BULLETIN
    FEBRUARY 06, 2015 12:00AM
    1 COMMENT
    Gold Coast Titans shareholder Michael Searle. Picture: JERAD WILLIAMS
    Gold Coast Titans shareholder Michael Searle. Picture: JERAD WILLIAMS
    MICHAEL Searle will be a shareholder of the Gold Coast Titans for a long time to come.

    Searle has been ready to sell, or at least dilute, his $4.4 million (39.1 per cent) shareholding of the club since he resigned from his roles in August last year.

    But there haven’t been any takers yet.

    Wealthy businessman Darryl Kelly, who owns 47.2 per cent of the club, has said numerous times he would happily offload some of his stake to the right investors.

    But none have come forward yet.

    India-based businessman Anshuman Magazine wouldn’t be persuaded to hang on to his 13.7 per cent share if he was made an offer.

    But one hasn’t lobbed yet.

    The Gold Coast Titans, while valued at $11.62 million, isn’t the easiest product to sell at the moment.


    The club is battling to stay afloat with speculation the NRL has contributed significant funds to help them financially.

    They have some upside. A new coach in Neil Henry is attempting to overhaul the club and they’ve launched an all-out assault to poach Manly’s star halfback Daly Cherry-Evans.

    They’re on the verge of securing a deal with Parkwood International to be based at the golf course from later this year.

    Searle was the driving force behind the creation of the Gold Coast Titans in 2007.

    He started working on the idea in 1999 but after 16 years his involvement with the club is now limited.

    He is the boss of the club’s charity arm, Titans 4 Tomorrow, but is no longer a board member and doesn’t have any association with the football team.

    In essence, he is a fan, who only wants to see the team he owns do well.

    Chairwoman Rebecca Frizelle says she’s happy to talk to anyone wanting to invest in the club.

    But whether there is another Kelly out there remains to be seen.

    The Titans already found their white knight. He rescued them when extinction looked certain and has tipped millions into the club for just a few wins in return.

    People like Darryl Kelly don’t come around very often.

    And that’s why Michael Searle will own a large part of the Gold Coast Titans for a while to come.
    #TitansThruNThru #WeAreReady


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