For all the experts suggesting there would be a lack interest in a sale of the Titans the field is very competitive.
Six groups join race to snap up Gold Coast Titans
The race for control of the Gold Coast is more hotly contested than many thought after the NRL confirmed up to six groups were ready to bid to run the Titans.
NRL chief financial officer Tony Crawford revealed confidentiality agreements had been sent on Monday night to the parties who had expressed an interest in taking over the club, among them the respective groups led by director Darryl Kelly and the consortia looking to revive the North Sydney Bears.
The process is expected to take about eight weeks and Crawford said the prospective owners would be consulted over the club’s search for a new coach. The sale of the Titans is expected to be relatively straightforward compared with the painstaking process involved in the sale of Newcastle, who finished in the hands of the Wests Group.
“We have had a series of people over the time we have had the ownership expressing an interest,” Crawford said.
“It’s time to move to the next piece. In the last couple of months we have made contact with each of those parties to work out what their level of appetite is.
“The vast majority do have an appetite to get involved in the process. We’re running a process that goes about eight weeks. I would expect there is going to be five to six parties.
“It doesn’t matter how many start the process: it is how many that are there for the journey that really counts. Some of the syndicates are well known.
“There are people who are very passionate about their Coast, there are other groups who are interested in keeping their brand alive at the elite level.”
The Titans have been flooded with interest despite a disappointing year that culminated in the axing of coach Neil Henry.
Crawford said any potential new owners would be kept informed on the process of replacing Henry, which is expected to ramp up in coming weeks as the club puts together a short-list of likely replacements.
Assistants Terry Matterson and Craig Hodges are likely to be on that list as well as highly rated assistants at other clubs, led by Penrith’s Garth Brennan, South Sydney’s Anthony Seibold and Melbourne’s Adam O’Brien.
St Helens coach Justin Holbrook, a former assistant at the Sydney Roosters, could be a bolter for the role.
Queensland coach Kevin Walters was expected to be the frontrunner but it is understood he is likely to extend his time at the helm of the Maroons rather than take over at the Titans.
Michael Maguire has figured prominently in discussions, and those are sure to intensify following his departure last night from South Sydney despite having two years to run on his contract.
“The thing that is complicated around a sale like that is the fact there is not a coach,” Crawford said. “A footy club needs a first grade coach. We have a process where we’re going to work with interested parties around the coach. But it is most likely a coach will be appointed before the sale is concluded.
“At key decision points we will consult them so they are not blind to the process. Towards the conclusion of that process around a coach we will be pretty deep into the sale process as well.
“By that stage we will have a pretty clear handle on who is real and who has decided they would rather do other things.’’
Crawford said the involvement of a Gold Coast element was important in determining the new owners but other factors would be taken into account.
Kelly was well known to the NRL as a former shareholder in the club and the Bears were armed with the support of powerful private equity player Peter Wiggs.
Crawford said: “One of the themes that was alive in Newcastle will also be really important here — in the view of the league, to be a successful longer term owner, which we are interested in, the final equation must be good for the team, town and game.
“Obviously if you’re a local-based syndicate some of those boxes are easy to tick. Not all maybe.
“Equally, other parties will have a clear understanding of that challenge for them and it will be for them to present their proposition in a way that puts forward their credentials as best they can to deal with that sort of criteria.”
http://www.theaustralian.com.au/spo...s/news-story/c7ecaf74d257ca143e62d5595c9b3d16
