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iSelect Gold Coast Titans granted new license

nqboy

First Grade
Messages
8,914
I'm just glad the ARLC are giving the orders for Gallop on this one. Could you imagine how much bigger a shambles it would be if Ummm had one hand tied behind his back by News Ltd and the ARL?
 

El Diablo

Post Whore
Messages
94,107
http://www.theaustralian.com.au/spo...coast-says-close/story-fnca0von-1226307662509

Michael Searle the right man for Gold Coast Titans, says Chris Close

by: Margie McDonald
From: The Australian
March 23, 2012 12:00AM


GOLD Coast business manager and former international Chris Close yesterday came out with guns blazing in defence of besieged Titans managing director Michael Searle.

"If I want someone running my ship under the circumstances he's been dealt, then certainly I'm backing Michael," Close said.

Searle has maintained the football part of the Titans is viable and will turn a profit this year, despite the financial problems facing the organisation's property arm.

And Close said the Titans would not fold as the previous incarnations of the Gold Coast -- the Giants (1988-89), Seagulls (1990-95), Gladiators (1996) and Chargers (1996-98) -- did.

"Look at this way, there's been many people who have trodden the path before him (four previous clubs) that didn't have the process, the resilience, the commitment or the amount of intelligence Michael has to get the thing off the ground and running," he said.

Close said the financial strife concerning the club's Centre of Excellence was being confused with the other issue of whether the Titans could afford their high-quality playing roster. Just this week, they added Dave Taylor from South Sydney for next year. And they are chasing Test utility Cooper Cronk.

"Do you think some of the players attracted here would have come if the place was so abysmal?" Close said. "Ask them and they'll tell you they came here because Michael Searle rejuvenated their love of playing football. The Centre of Excellence is a whole different set of circumstances."

Close said former players Preston Campbell, Clinton Toopi and Dean Widders were running community programs on health, welfare, education and training that were set up by Searle and now had Queensland and federal government backing.

"It is a reality, we are making a difference to young people's lives," he said.
 

Frailty

First Grade
Messages
9,593
" The Centre of Excellence is a whole different set of circumstances."

No, it's not. Why do they keep ignoring the fact that just because it falls under the property umbrella that it is still the Titans umbrella.
 

The AXXXMAN

Guest
Messages
67
What would make you say that. How many NRL footy clubs make money? Most need to be serviced by poker machine revenue to stay afloat at all. No NRL club could even come remotely close to sustaining a property development company entering into multimillion dollar transactions.

I'm not too informed on the other uses of the CoE such as whether certain areas are leased to other business, and what revenue the Titans receive from hiring out conference rooms, etc. but I'd say they'd need to fund the shortfall in debt servicing from somewhere, and this would be coming from football operations.

News in the media today state that searle that has been engaging in some creative accounting and hidden $35m of debt. make of that what you will.

the titans have a property company 'registered' separately from the football operations, but in reality they're linked.

the operation up there is about to collapse. as I've stated in earlier posts, the NRL have no one else to blame but themselves. as custodians of the game, everyone pays for it.
 
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Red Bear

Referee
Messages
20,882
Do we actually desperately need the GC as an area, if the Tits were to go under. It's hardly a production line of juniors, Consistently shows across a number of codes that there is a big novelty factor but that interest dies off pretty quickly etc. We arent stuck with stadium bills if Robina isnt used, Qld Govt and their ridiculous hiring fees of stadiums qld are.

You see in the NFL they dont have a team in a city the size of LA because there isnt interest there, and it's never really worked before, and they seem to get by just fine.

Second Brisbane, Perth and the CC amongst others are crying out for a team and we keep rewarding this shithouse area with sides.
 

beave

Coach
Messages
15,759
What if Clive Palmer came in a 'bought' the CoE and then used some of it as office space for his own company and then called his business 'Titan Minerals' and use it as a tax write off or something................

I dunno, I fix planes for a living I am just throwing shit out there.................. god I feel like George on Sienfeld

'don't worry about it, they just write it off!!!!'
 

Joker's Wild

Coach
Messages
17,894
Do we actually desperately need the GC as an area, if the Tits were to go under. It's hardly a production line of juniors, Consistently shows across a number of codes that there is a big novelty factor but that interest dies off pretty quickly etc. We arent stuck with stadium bills if Robina isnt used, Qld Govt and their ridiculous hiring fees of stadiums qld are.

You see in the NFL they dont have a team in a city the size of LA because there isnt interest there, and it's never really worked before, and they seem to get by just fine.

Second Brisbane, Perth and the CC amongst others are crying out for a team and we keep rewarding this shithouse area with sides.

Ben Hannant, Darius Boyd, Brent Tate......
 

Goddo

Bench
Messages
4,257
^ the Titans catchment also takes in northern NSW down to Port Macquarie.

Including the Queensland heartland of Bowraville.
 

beave

Coach
Messages
15,759
I think he is talking about more of their own production line, I think there is only 3 players in their team this week that have come through the titans 'system'?
 

Red Bear

Referee
Messages
20,882
another CC nutter

6th largest city in Australia you idiot
And LA is the second largest (IIRC) city in the states yet their biggest code doesnt have a club there, because there is no demand.

This isnt even a rugby league thing. there's been failed basketball, AFL sides along with numerous failed rugby league sides. All their clubs at present have been formed from 2007 onwards and of them the Titans are struggling, Gold Coast United are more than likely gone, and the Blaze have concerns over their financial stability.

It's simply shown over 25 years that it isnt a particularly strong sporting region. Wouldnt you think after 4-5 club have failed ina region simply putting another one in there (as the ARLC have implied they will if the Tits fall over) would simply be not learning from the numerous mistakes the NRL/ARL/NSWRL has made in the past
 

Joker's Wild

Coach
Messages
17,894
beave said:
I think he is talking about more of their own production line, I think there is only 3 players in their team this week that have come through the titans 'system'?

Well to be fair, Newcastle only has 5 in their line up this week but no one is suggesting that a team in that area is not important
 

The Informer

Juniors
Messages
274
I'm not too informed on the other uses of the CoE such as whether certain areas are leased to other business, and what revenue the Titans receive from hiring out conference rooms, etc. but I'd say they'd need to fund the shortfall in debt servicing from somewhere, and this would be coming from football operations.

News in the media today state that searle that has been engaging in some creative accounting and hidden $35m of debt. make of that what you will.

the titans have a property company 'registered' separately from the football operations, but in reality they're linked.

the operation up there is about to collapse. as I've stated in earlier posts, the NRL have no one else to blame but themselves. as custodians of the game, everyone pays for it.

Yes, everything is controlled and owned by Searle. He has an approx 80% share holding control, over the Football Club & Property Business. He also runs the Merchandise income as a separate identity. But they all point back to him.

He's tried to be a high flying billionaire, with out the billions to bail out his own mistakes.

The C of E was valued at approx $16 mil last yr, with an approx debt of approx $23 mil, but the problem is no one is actually sure what the real debt is as there's smoke and mirrors everywhere. More recent valuations suggest the current valuation is now closer to $13 mil. Next problem is that it was build on swampland with narrow title, it's not a very attractive sale proposition nor has much use.

And what of all the builders and contractors who have been left in the wake of this disaster through the last 18 months? The amount of local interests and people burnt by all of this is staggering, their name is mud (well it's actually many other things) and has been for 18 months which is another reason that their support and crowds have declined, on the back of losing. It’s a pity the Simcorp issue wasn’t properly exposed when it came to light, it may well have been a smaller problem to fix then than now.

It's a disgraceful mess and needs to be sorted out and cleaned up very quickly. Someone has to take the hit, and then try and turn it around, in the process hopefully on the back of some quality accountable management including a professional board of directors.
 

beave

Coach
Messages
15,759
well when we were up the shit creek, News came in and sacked everyone involved with NQ and put Frank Stanton in charge for 6 months or so while they looked for a decent CEO (We ended up with Denis Keefe who, as an outsider myself, he seemed to be fantastic).

I wonder what cranky Franky is doing these days, he might want another gig in QLD for a short time!
 

some11

Referee
Messages
23,747
Michael Searle:

166wsx2.jpg
 

Perth Red

Post Whore
Messages
73,752
Gallop and Grant have been talking about delaying expansion as existing clubs need support. Time for them to put their money where their mouth is.

Property development aside I wonder how sustainable the NRL operations are. Their crowds have been better than Avg, they seem to have a good portfolio of corporate sponsors and they seem to be spending some money in marketing and development side of things. Obviously the ridiculous stadium deal is hurting them but I wonder what their actual football operating costs and income are. If the raised grant from 2013 is going to cover any NRL club running shortfalls then they should bail them out short term, get A proper board running the club, allow Searle to keep a 25% ownership and CEO role and consider the CofE as an investment if the numbers stack up for it. Closing them down would be meat and drink to AFL, and I am not normally one who buys into this AFL is taking over the world propoganda.
 

bottle

Coach
Messages
14,126
The article contains both quotes by his worship.

See edit below.
 
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