LAST CLUB STANDING
CLOCK TICKS ON TITANS SALE
AS many as three Gold Coast groups are understood to be readying themselves for the sale of the Titans, with the NRL set to put the franchise out to tender as early as next month.
The Titans were a financial basket case when taken over by the NRL in 2015 but have reformed to the point the club is now viewed as a jewel in the NRL crown.
While a group led by Titans saviour Darryl Kelly has been upfront in its interest, it’s understood two other Coast-based entities are also preparing tenders.
The North Sydney Bears also remain an interested party and are prepared to lodge their business plans with the NRL as soon as the tender process is announced.
That could open as soon as next month, with the NRL determined to have the Titans off their books by the end of their financial year on October 31.
NRL-owned Newcastle will start transition to new owners the Wests League Club group if the support of Knights members is gained, as expected, in a plebiscite started on Saturday, paving the way for the NRL to start the formal sale of the Titans.
Kelly said his group was ready to present its case once the NRL’s green light arrives.
“We’ll definitely be putting our hand up,” he said of his consortium, which had not yet been formalised.
“I haven’t put a formal proposal to anyone yet but I’ve been keeping those that have expressed an interest up to date in where I’m up to and no one’s changed their mind.”
Keeping the Titans in the hands of Gold Coasters is Kelly’s main aim and he says he will be content if another Coast backer with “the right attitude” gains control.
“Whether it’s us or some other group from the Gold Coast I’m not overly fussed as long as they’ve got the right attitude towards the club and Gold Coast community,” he said.
Kelly lost millions when the Titans were briefly placed in voluntary administration before the NRL’s takeover. So why risk his money again?
“This time around I’m hoping that it won’t cost me financially, I’m hoping that my business plan will be such that it’ll be at least cost neutral if not a little bit positive,” he said.
“It’s a different structure and a different model this time, that’s for sure.”
The extra money to flow to clubs through the league’s new broadcast deal has helped make the business model more attractive to prospective bidders.
One party that will not be interested, though, is a group of Gold Coast business executives who were keen to buy into the Titans in 2014 but have since sunk their funds into AFL.
Scott Sattler, inaugural Titans football manager and a man the consortium enlisted to help back in 2014, said the businessmen were no longer interested.
“When the NRL said they weren’t interested at looking at that option, they actually went and invested in AFL, unfortunately,” Sattler said.
“That was a bit unfortunate because at the time, it was perfect. But I think they got disillusioned, so they’ve moved on.”
North Sydney Bears general manager Greg Florimo and chairman Perry Lopez confirmed their interest to the
Bulletin yesterday, refuting claims the foundation club wanted to hijack the Titans.
While the Bears plan has previously been referred to as a takeover, Lopez made it clear that was not the case.
The group also has the backing of Gold Coast-based businessman Harry Cheung, already a club sponsor, who has said his “dream” is to see the Bears back in first grade.
“It’s not about a North Sydney takeover at all,” Lopez said.
“We’ll play 11 of the 12 up there (at Robina) and take one to North Sydney Oval and that’d be the key focus.”