Titans close to $100 million move that will secure NRL future until 2025

[Toads]

I can't help but think this deal closes the door a little more on Daryl Kelly having anything to do with the Titans, considering the project that may have eventuated at Coomera.

[Titanic]

Kelly is a board member so he is at the coal-face of these negotiations so I would think that whatever the decision it would also suit his best interests ... it's just like insider trading.

[Toads]

Cheers for clearing that up, Titanic. I forgot he was a board member.

Wish he was a little more outspoken, so it doesn't appear he has dropped off the radar. Last I seen/heard of him was when he stood in the background on the day Smith and Annesley made the announcement that the NRL was taking over the Club.

[Bayside Titan]

At the Titans launch night he was happy to speak to lots of people ( Kelly ). I had the feeling that he is the bloke that enables people but doesn't seek the lime light despite his wealth or who he is.

[Toads]

I can relate to to that, BCE. I guess I'm one that would like to see him pop his head out 2 or 3 times a year just to let us know he's still around and let us know how he feels in regards to how the club is heading.

After all, the guy did save our hide there for a while and I (for one) hold a high regard for him for doing so. It'd just be nice for the general public to hear from him from time to time.

[Mr Stupid]

At the risk of sounding stupid (again) can anybody succinctly explain for me the ownership structure of the club (including the NRL licence) and the role of the Board etc.

[Bayside Titan]

Owner ---- NRL sole owner
Board ---- Frizell, Kelly , Donavan and now a guy from the NRL.

Board report to NRL. Board have the power to hire fire make key decisions about the Business as do any Board. Similar situation as to the Newcastle club.

Hope that helps. ???

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Happy to answer anymore questions you might have as well mate about that stuff.

[Toads]

Who is Donavan?

[Bayside Titan]

Who is Donavan?

Paul is chief operating officer of Gold Coast Airport and chairman of Gold Coast Tourism Board.

Donovan has managed Gold Coast airport since 2005 after holding several executive appointments with airlines in Australia and New Zealand for many years. He has had involvement in rugby league through his previous airline positions since the 1980s. He has overseen several key projects for Gold Coast Airport, delivering a runway extension, a $100 million terminal redevelopment, a long-term car park and the 2011 airport master plan.

“I’ve become involved with the Titans because I care about the Gold Coast and the Titans are a large part of the Gold Coast community,” said Donovan, who has been a member of the Gold Coast Tourism board for eight years, and chairman for six.

[Mr Stupid]

Owner ---- NRL sole owner
Board ---- Frizell, Kelly , Donavan and now a guy from the NRL.

Board report to NRL. Board have the power to hire fire make key decisions about the Business as do any Board. Similar situation as to the Newcastle club.

Hope that helps. ???

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Happy to answer anymore questions you might have as well mate about that stuff.

Thank you, that's great. So Kelly and Frizell etc have no financial interest in the club at all now. Kelly used to have about 25% didn't he? The NRL bought him, Searle, Magazine out completely and took on the debts also...yes?

[TitansFan92]

Thank you, that's great. So Kelly and Frizell etc have no financial interest in the club at all now. Kelly used to have about 25% didn't he? The NRL bought him, Searle, Magazine out completely and took on the debts also...yes?

No the NRL just took the licence back. No money for anyone. It was either that or no Gold Coast Titans anymore.

[Titanic]

And that's why the community, and creditors in are particular who are having all sorts of debt recovery meetings, feel the club is still on the nose. The NRL saved the club but nobody else in the short term ... the long run is yet to pan out.

[Mexican titan]

And that's why the community, and creditors in are particular who are having all sorts of debt recovery meetings, feel the club is still on the nose. The NRL saved the club but nobody else in the short term ... the long run is yet to pan out.

One minor point T. All the members are also creditors who could have had lost their memberships however we were all novated to the new owners. Of course it would have been commercial suicide to kill off existing memberships but technically they could have. All members received letters from the Administrators.

[Bayside Titan]

Thank you, that's great. So Kelly and Frizell etc have no financial interest in the club at all now. Kelly used to have about 25% didn't he? The NRL bought him, Searle, Magazine out completely and took on the debts also...yes?

I'll expand alittle on TF92, Titanic and MT have said and I agree with all comments.

NRL had the licence handed back to them , but the feeling I had was that the NRL suddenly stepping in when they did was at least 6 months in the making. Looking at the financials you can clearly see that NRL had to step in when they did as the club was bleeding money and an assumption could be made that when the drug scandals hit was the million $ blow kill off the Titans resurrection. But essentially no one got anything at the time.

Members as MT said had the membership novated to the new entity and once ,if and when the new owners the Memberships will Novate across to it. NRL choose to Novate the Memberships accross as they have a genuine desire to mend the wounds from the previous entity. There have been two creditor meetings held and the last was the meeting in which the DOCA was passed along with the Membership motion. I believe that there will be a few more meetings in the coming months.

[Titanic]

Yes, MT and BCE, the membership issue is a thorny if understandable one for the Administrators and clouds already murky waters for the creditors.