BEC TO BUY IN
Frizelle steps down as club chair to join bidding team for NRL licence
REBECCA Frizelle has resigned as Titans chair with the respected businesswoman joining a consortium that has ramped up plans to buy the Gold Coast club. Frizelle, the NRL’s first female chair, confirmed last night she had quit her role on the board to avert any perceived conflict of interest.
Frizelle notified the NRL of her decision last Friday, just days before the NRL formally placed the Titans up for sale.
The successful Gold Coast business identity was appointed as Titans chair in April, 2014 but now has bigger plans, joining forces with former coowner Darryl Kelly as part of a bidding process to buy the embattled club.
Kelly, who lost $5 million following the collapse of the Titans, which prompted an NRL takeover two years ago, has also walked away from the board.
“I took this action to avoid any perception of a conflict of interest once the formal sale process for the club licence commenced this week,” Frizelle said last night.
“My family’s private company is part of a consortium that is being led by long-term fellow director and former major shareholder, Darryl Kelly that will enter the formal bidding process for the sale of the licence.
“As a consequence of this bid, it would not have been appropriate for me or Darryl to continue as directors, nor for me to remain as chair of the club during the sale process.”
It is understood at least two other unknown businessman are part of the Kelly-Frizelle consortium determined to clinch the Titans licence.
At one stage, up to five consortia were interesting in buying the club, but the biggest threat to the Kelly-Frizelle team will come from a North Sydney faction refusing to give up on the Bears’ NRL dream.
The North Sydney Bears consortium is armed with an estimated $7 million bid, but the Kelly-Frizelle bid is the frontrunner, with the NRL reluctant to relocate the Titans and tinker with its brand.
The Bears are interested in bringing at least two Titans home games to Sydney but Frizelle last night vowed to keep the NRL’s 16th team on the Gold Coast for good.
“If our consortium is successful, we will ensure the Gold Cost Titans remain based on the Gold Coast, with local management and investment,” Frizelle said. “We believe it is vitally important for the future of this club and its heritage that it remains in local hands.
“It has been an absolute privilege and honour to serve as the chair of this club.”