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  1. #46
    QLD Cup rj62's Avatar
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    Quote Originally Posted by Titanic View Post
    Knights mob are complaining that the NRL is running them on a shoestring.

    And to all those people who have been death-riding us, at least this is a partial answer to gAyFL's propping-up their club.

    Also the term 'voluntary receivership' seems to be slipping by here ... that means Kelly and Co were not backing us in and we are in serious strife.
    May have been the play to force the NRL's hand. Whilst wealthy and generous, there must a a limit.

  2. #47

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    Quote Originally Posted by DavidBouveng View Post
    what if the IOU has our new mate Smitty's signature on it?
    An IOU from a Welshman. Hmm not sure. At least he's not a Scot I guess.
    On Smitty as you call him, he has handled this and the press conference superbly but just watch the Telegraph especially Rothfield and Bourbon Becky slag him off and say that ahhh David ahh Gallop ahh would have done better. They wanted leadership and today we got it but it would kill them to acknowledge it.

  3. #48
    Rep Player karnage's Avatar
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    It's funny how forumites all think the Suns are just being given an endless bucketload of cash by the AFL. That is so far from the truth it is not funny. The AFL have just bought in a salary cap on football department expenditure (if you can believe that!!) so teams need to disclose their investment in off field personnel. The amount the Suns / GWS combined spend on the football department is a fraction of the big clubs like Hawthorn, Collingwood and Adelaide.

    The AFL do for the Suns what the NRL should have been doing for us from day 1.

    I am thankful that the NRL have stepped in but I am more thankful that the AFL have a presence in our market, because I am fairly certain that if it weren't for the Suns the Gold Coast would not be of such high strategic importance.

    We should all be happy that our future is secure, we should all be happy that the yoke of the previous administration has been lifted. Now, hopefully, for the first time in what seems like an age, we need to start enjoying watching our team play football. That's not going to be so easy this season!!

  4. #49

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    Quote Originally Posted by karnage View Post
    It's funny how forumites all think the Suns are just being given an endless bucketload of cash by the AFL. That is so far from the truth it is not funny. The AFL have just bought in a salary cap on football department expenditure (if you can believe that!!) so teams need to disclose their investment in off field personnel. The amount the Suns / GWS combined spend on the football department is a fraction of the big clubs like Hawthorn, Collingwood and Adelaide.

    The AFL do for the Suns what the NRL should have been doing for us from day 1.
    I think you are kidding yourself if you think that the AFL are not spending millions propping up the Suns and GWS. Far more than they give to other clubs. It's not just forumites that think this - I have seen figures of $20m quoted in the papers in the last few days.

  5. #50
    Star Player Titan4Life's Avatar
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    NRL vows to win back Gold Coast trust
    By Tony Webeck, Chief Queensland Correspondent
    NRL.com
    10:00pm Tue 24th February, 2015

    Let the healing begin.

    That was the message from NRL CEO Dave Smith on Tuesday as the NRL stepped in to take control of the Gold Coast Titans after the club was placed into voluntary administration by the board.

    Titans directors conceded that the club could no longer meet its financial obligations – including staff and player salaries – resulting in the existing ownership structure being dissolved and taken over by the game's governing body.

    Former major shareholder Darryl Kelly will remain on the Titans board along with chairwoman Rebecca Frizelle, CEO Graham Annesley and chairman of the Gold Coast Tourism Board, Paul Donovan but the NRL is now the sole owner of the club.

    The takeover has resulted in the removal of Michael Searle from any association with the Titans, having previously had a stake of 39.1 per cent of the club along with positions in the football department and on the board.

    Searle was the driving force behind the admission of the Titans into the NRL in 2007 but his legacy to the club will forever be clouded by the ambitious yet ultimately disastrous Centre of Excellence facility in Robina.

    Failure to pay creditors for works undertaken on the Centre of Excellence left a bitter taste amongst sub-contractors throughout the Gold Coast construction industry and Smith said repaying any debts will be a critical step in winning back the trust of the community.

    "We will work with the administrators to make sure that we resolve the existing position," Smith told a large media contingent on Tuesday.

    "We're very aware that in the community there have been problems in the past with credit and other things in the community and the NRL will do the right thing by the creditors as we work through the process with the administrators.

    "We've stepped in because there were a series of issues that the club needs support for and they will get that support and the board will lead us through that.

    "We will do the right thing by the community because a club like this, actually any club in the NRL, is a community-based sport and we survive or we die because of our connection with the community.

    "I'm really aware that there have been problems in the past, the NRL and the board will do the right thing by the community and we will make sure that this is a club people can trust.

    "Whether you're a sponsor, a fan, a little boy or girl watching on television, you will trust this club because we're going to build a great club and we're all going to be proud of it."

    Dating back to the sacking of coach John Cartwright and Searle stepping down from the board last August, the Titans have been subjected to numerous off-field distractions that threatened to destabilise the club.

    Sponsors have been hard to find and due to the latest drugs-related allegations the team has been left without a permanent training facility less than two weeks before the start of the season.

    CEO Graham Annesley has been left to bravely front numerous unpleasant press conferences but appeared relieved that questions about the long-term future of the Titans had finally been answered.

    "Since I've arrived at this club I've constantly been asked, 'Is the club going to fold? Is the club going to be relocated?' Today, the clear answer to both of those questions is 'No' and 'No'," Annesley said.

    "This club is here for the long term on the Gold Coast and this announcement by Dave should give great heart to our members, to our sponsors, to our corporate partners and to our fan base right across the country that the Gold Coast Titans are going nowhere and it's onward and upward.

    "Every club needs financial stability, we've now got it and that's good news for the Gold Coast."

    Former Gold Coast Charger Scott Sattler told NRL.com on Monday that he believed the Titans needed to completely rebrand in order to repair damaged relationships within the community. But Smith assured fans that the Titans name is here to stay.

    "I think the Titans name is a perfect name and I think there are probably a lot of fans that are Titans fans for life and long may that continue," Smith said.

    "All the players' contracts are secure, everybody will get paid. They will get paid within the context of a long-term future for this club. The club will be restructured so that going forward, from now, it will be business as usual.

    "What we're announcing is a long-term commitment to the Gold Coast, a long-term commitment to the Titans and we will build a club that the fans can be proud of."
    #iwillneverwalkaway

  6. #51
    Administrator DIEHARD's Avatar
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    NRL moved in on Gold Coast Titans after owners couldn't meet $1 million ultimatum
    http://www.smh.com.au/rugby-league/l

    The NRL terminated the Gold Coast Titans' licence after stakeholders Darryl Kelly and Michael Searle failed to meet an ultimatum to immediately inject $500,000 each to keep the club afloat.

    The Titans were on the brink of financial collapse, prompting a crisis meeting between the governing body and the Titans stakeholders on Monday. After failing to stump up the funds, the franchise was placed in voluntary administration, prompting the governing body to come in and pick up the pieces. The strategic move effectively froze Searle, the club's former chief executive, out of the new entity. Graham Annesley will remain chief executive under the new ownership, while the incumbent board comprising chairwoman Rebecca Frizelle, Paul Donovan and Kelly will remain.

    Despite the damage done to the brand following a litany of scandals, the most recent being the charging of six present or former players over cocaine use or distribution, NRL chief executive Dave Smith confirmed there would not be a re-branding.

    Kelly, who has poured in a sum estimated to be worth more than $5 million, went on the record in recent days to declare he would not be offloading his 47.2 per cent stake in the Titans. But after the latest scandal – in which Titans players Greg Bird, Dave Taylor, Beau Falloon, Jamie Dowling and Kalifa Faifai Loa were charged in a drugs sting conducted by the Queensland Crime and Corruption Commission – there has been a change of heart. Searle was also not prepared to meet the funding request, bringing to an end his colourful reign as a Titans powerbroker.

    The drugs dramas raised further questions about the viability of a club on the Gold Coast. Previous rugby league incarnations on the holiday strip – the Chargers, Giants and Seagulls – have all folded. The latest dramas raised fears the Titans – currently without a major sponsor, a training base or three of its best players in Bird, Taylor and Falloon – could be relocated or wound up. However, Smith on Sunday promised the club wouldn't collapse on his watch and was good to his word when he announced on Tuesday that head office would step in.

    "In very difficult circumstances the board has made a great contribution and we look forward to continuing to work with them to stabilise the club," Smith said in a statement.

    "And, in time, the board will be further strengthened."

    The last line suggests the ARLC will soon install its own "independent" directors, as it did when the Balmain side of the Wests Tigers joint venture was unable to meet its financial commitments. The Commission has proven its commitment to propping up clubs struggling to survive, as evidenced by its willingness to become involved in Newcastle after the ownership fiasco with Nathan Tinkler. They have also provided financial assistance to St George Illawarra when the Dragons were struggling to meet their commitments.

    The dramas raise the question as to whether the NRL can afford to expand the competition into new markets when so many existing clubs are struggling to stay afloat. However, Smith said expansion remained on the agenda and would be the remit of incoming head of game strategy and development Shane Richardson, in a clear signal the former South Sydney chief executive would not be a casualty of the club's cover-up of "Arizonagate". The NRL's integrity unit findings into the Rabbitohs are expected to be handed down this week.

    The promise that all players currently on the Titans' books will be paid will come as a relief to a squad already the bookies' favourite to earn the wooden spoon. The fact the NRL will guarantee the club's future will also comes as welcome news to potential signing Daly Cherry-Evans, who is weighing up a huge offer to come to the holiday strip. However, the dramas surrounding the club – the QCCC foreshadowed further arrests this week or next – will likely result in him favouring other suitors.
    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!!"
    TITANS, DIEHARDS, WARRINGTON WOLVES, MAROONS, KANGAROOS, HONG KONG THUNDER

  7. #52
    Administrator DIEHARD's Avatar
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    It's up to us to get our act together. The game won't expand if we are a basket case. Let's get to work.
    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!!"
    TITANS, DIEHARDS, WARRINGTON WOLVES, MAROONS, KANGAROOS, HONG KONG THUNDER

  8. #53

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    Quote Originally Posted by DIEHARD View Post
    The strategic move effectively froze Searle, the club's former chief executive, out of the new entity

  9. #54
    Moderator lonegull's Avatar
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    Wonder what happens now with our training facilities for next year, wonder if coomera is still on the drawing board after the NRL take over or if Parkwood will still be interested, hopefully a decision soon

  10. #55

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    Don't know if it was someone on here that came up with the hashtag #iwillneverwalkaway (or something like that) but I saw a bloke reading the Bully before and that was on the front page with a headline "We Believe".

  11. #56
    Rep Player karnage's Avatar
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    Quote Originally Posted by Mexican titan View Post
    I think you are kidding yourself if you think that the AFL are not spending millions propping up the Suns and GWS. Far more than they give to other clubs. It's not just forumites that think this - I have seen figures of $20m quoted in the papers in the last few days.
    So we believe the papers when it comes to throwing around figures on how much the AFL is paying the Suns, but we don't believe them when it comes to reporting the Titans financial issues (which were all understated if anything) and the off-field indiscretions of our players??

    Read my original post.

    I stated that the AFL is simply doing for the Suns what the NRL should have been doing for us from day 1. I stand by that comment. There is no point hating on the Suns.

  12. #57
    Immortal Titanic's Avatar
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    Gee TC, labelling our dysfunctional club "great" is a bit premature ... future rugby league historians will wonder how the hell we have survived to this stage ... our goal should be to make it great.
    Four reasons to escape to Queensland: Sun, Surf, Sand & the Titans.

  13. #58

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    Quote Originally Posted by karnage View Post
    So we believe the papers when it comes to throwing around figures on how much the AFL is paying the Suns, but we don't believe them when it comes to reporting the Titans financial issues (which were all understated if anything) and the off-field indiscretions of our players??

    Read my original post.

    I stated that the AFL is simply doing for the Suns what the NRL should have been doing for us from day 1. I stand by that comment. There is no point hating on the Suns.
    Mate I don't hate the Suns, in fact I go to many of their home games. Your original post said many forumites thought the AFL gave the Suns bucket loads of money which you said is so far from the truth.
    In an Australian Financial Review article this week it said in the last two years the AFL has granted GWS $38 million and the Suns $33 million. That's bucket loads in my book.

  14. #59
    Coach C-Whiz's Avatar
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    I've been buzzing for days on this news. Talk about the highs and lows of a club compressed into a single week! Far out!!!

    I really feel like its a fresh start, almost like back in 2007 when we first came in, feeling like we were full of endless opportunities.

    I feel like that again. It's going to be another uphill battle, but at least we have a future, and that's good enough for me right now.

  15. #60

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    So now the NRL basically owns the Titans can they or will they sell it to that bloke from the UK who wants to buy an NRL team??


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