Bears out of race to buy Titans

IT’S official – North Sydney’s brave battle to return to the big league is dead.

The Bears have been placed in NRL hibernation after a North Sydney consortium failed in its attempt to win the Gold Coast licence.

The Bears launched an ambitious $7 million bid to buy the Titans in March and formalised their plans last month when they were one of four consortia to submit a business proposal to the NRL.

Under the plan, North Sydney would return to the top flight as the Gold Coast Bears.

But NRL hierarchy has put a red line through North Sydney’s proposal, ensuring Gold Coast fans will not see Titans games taken interstate.

The battle for the Titans licence is now a two-horse race between the Rebecca FrizelleDarryl Kelly consortium and a secret Gold Coast-based businessman.

The Brisbane Bombers withdrew their $10m bid amid concerns over the long-term viability of a Titans club that is forecast to post another deficit next season.

Bears officials have waged a 19-year fight to resurrect the club as an NRL force following North Sydney’s exit from the big league in 1999.

It is understood the NRL had major concerns about the Bears’ latest bid after it emerged North Sydney Leagues Club, touted as key financial backers, had baulked at bankrolling a $7m buyout.

Without Norths Leagues’ support, the bid fell over.

The NRL will complete the sale of the Titans by the end of November.