iSelect Gold Coast Titans granted new license

[Brutus]

The Titans should be supported by the NRL and not be allowed to fold.

Agree

 

[docbrown]

ignore Bunniesderp ffs

Which part? His plan to give Broncos a player for free?

 

[BunniesMan]

Nothing wrong with having a bit of vision and I can understand where he was coming from with it.

Do you realise how many construction businesses failed on the Gold Coast because of the GFC? That's the primary cause of the problem.

But now you're expecting Searle to have psychic powers to know just how much debt those companies were hiding.

Perhaps there's a good reason why Reed Constructions are pursuing this so hard - because they're probably about to collapse too!

Where are the people claiming that the construction industry on the Gold Coast will never work, let's get rid of it forever?

Oh wait - saying things like that would make you an idiot.

I've never said we should get rid of NRL on the gold coast. Earlier I said that relicensing to someone else and rebranding might possibly be the best long term option. But unlike a few others I never argued for giving up on the Gold Coast. A population of a million in a rugby league state has to have a team. No ifs or buts about it.

As for his "vision", just as important as having the vision itself is getting the timing and execution right. He's failed miserably at that.

Doing something unnecessary like the CoE to the scale it was done should never have happened during the GFC. There's a reason so many business have scaled back investment in the last 3-4 years. Because risk has gone through the roof.

 

[the_flight_of_the_magpie]

ive read today that they way things are going the Titans Property have until April 30 to hold off liquidation

 

[docbrown]

I've never said we should get rid of NRL on the gold coast. Earlier I said that relicensing to someone else and rebranding might possibly be the best long term option. But unlike a few others I never argued for giving up on the Gold Coast. A population of a million in a rugby league state has to have a team. No ifs or buts about it.

As for his "vision", just as important as having the vision itself is getting the timing and execution right. He's failed miserably at that.

Doing something unnecessary like the CoE to the scale it was done should never have happened during the GFC. There's a reason so many business have scaled back investment in the last 3-4 years. Because risk has gone through the roof.

A rebranding would be a mistake. There's already a stigma there with GC clubs rebranding every couple of years. For the club to work it has to remain as the TITANS.

And the only way to do that is to keep the football club group affloat in its current structure, potentially sans the property group.

Like I said though and I will reiterate, it's not the first case of one company having financial distress because other companies hid their own financial distress and then collapsed. And it won't be the last.

You're expecting the manager of a Rugby League club to have predicted what the majority of many leading economists overlooked and underestimated.

It's all well and good to be judgmental like that in hindsight with perfect clarity of the end result - BUT - where were the people claiming the COE was a white elephant back when it was first announced? You want to post a link to your original post where you had the foresight to claim that?

 

[El Diablo]

rebranding would be rquired if the Titans FC went bankrupt and owed money

it would need to be a new entity and therefore would require a new name

 

[BunniesMan]

Was it the Chargers that were the one success on the Gold Coast and got f**ked over by SL? I know one of those GC teams in the 90s was killed while having millions in the bank.

If it was the Chargers why not rebrand to "Chargers" (if the situation comes to that), the only brand that was a financial success up there in the last 20 odd years

 

[docbrown]

rebranding would be rquired if the Titans FC went bankrupt and owed money

it would need to be a new entity and therefore would require a new name

Hence why they need to keep the FC affloat by either full buying out the debt of the property group and owning both or by detaching the property group from the FC.

Either way the TITANS name has to remain and those are the only 2 options to achieve that. There needs to be some kind of continuity from one administration to the next. The strongest thing they have is their mascot brand. Lose that and it will be hard to convince people that they're stable.

 

[Eelectrica]

Hence why they need to keep the FC affloat by either full buying out the debt of the property group and owning both or by detaching the property group from the FC.

Either way the TITANS name has to remain and those are the only 2 options to achieve that. There needs to be some kind of continuity from one administration to the next. The strongest thing they have is their mascot brand. Lose that and it will be hard to convince people that they're stable.

Agreed. Titans supporters have no problem with Searle being dumped and a CEO with full board being appointed to manage the Titans properly.
Changing the brand name and starting from scratch would make it tough to rebuild support.
The NRL needs to decide if they're going to give the GC to AFL or fight a battle that can be won with the right people in place.

 

[Eelectrica]

Was it the Chargers that were the one success on the Gold Coast and got f**ked over by SL? I know one of those GC teams in the 90s was killed while having millions in the bank.

If it was the Chargers why not rebrand to "Chargers" (if the situation comes to that), the only brand that was a financial success up there in the last 20 odd years

Yes, the Chargers were sacrificed for SL and were profitable at the time.

 

[Titanic]

The issue is complex. Searle and Broughton as owners carry the responsibility. However, Searle has pretty much had his way while Broughton who retained the Chargers' purse strings and was one of the white shoe brigade from the Quayle days has sat in semi-retirement. Searle is an accountant not an economist and there lies a big part of the problem. From an outsiders perspective, it would not be too big of a stretch that the link between the club and the property arm is entwined in a mire of corporate legalese and so if creditors take one down then they take them both. Searle must unload the CoE before the jackals close in, settle his debts, extricate the club and then he must fall on his sword.

As a Titans fan who has put his hard earned behind the Giants/Seagulls/Chargers/Crushers and even Wests Panthers, I would hope that the next reincarnation will (a) maintain the current name, and (b) never take to the big-noting that Searle has repeatedly sprayed about the (i) model club, (ii) the vision, (iii) the Commission, (iv) indigenous issues and so much more that he has paid thinly disguised and questionable lip service to ad nauseum.

 

[Eelectrica]

The issue is complex. Searle and Broughton as owners carry the responsibility. However, Searle has pretty much had his way while Broughton who retained the Chargers' purse strings and was one of the white shoe brigade from the Quayle days has sat in semi-retirement. Searle is an accountant not an economist and there lies a big part of the problem. From an outsiders perspective, it would not be too big of a stretch that the link between the club and the property arm is entwined in a mire of corporate legalese and so if creditors take one down then they take them both. Searle must unload the CoE before the jackals close in, settle his debts, extricate the club and then he must fall on his sword.

As a Titans fan who has put his hard earned behind the Giants/Seagulls/Chargers/Crushers and even Wests Panthers, I would hope that the next reincarnation will (a) maintain the current name, and (b) never take to the big-noting that Searle has repeatedly sprayed about the (i) model club, (ii) the vision, (iii) the Commission, (iv) indigenous issues and so much more that he has paid thinly disguised and questionable lip service to ad nauseum.

The model club myth has been shattered to a million or so pieces.

The problem is he made the Titans FC a guarantor for the property arm. If the property side can't pay its debts then the FC gets dragged down the hole with it.

 

[CC_Roosters]

Surely the perfect time for the NRL and Titans to approach stadiums qld and say there is a very real chance of your shiny new stadium having no tenant, so give us a better deal to ensure you have a tenant.

 

[Digga Hole]

Hence why they need to keep the FC affloat by either full buying out the debt of the property group and owning both or by detaching the property group from the FC.

Either way the TITANS name has to remain and those are the only 2 options to achieve that. There needs to be some kind of continuity from one administration to the next. The strongest thing they have is their mascot brand. Lose that and it will be hard to convince people that they're stable.

Why throw good money after bad. The NRL could simply buy the brand name off the liquidators.

No one else would value it and the banks will sell anything they can to get their money back.

People don't buy failed business's, they buy assets of value from them.

 

[BunniesMan]

Surely the perfect time for the NRL and Titans to approach stadiums qld and say there is a very real chance of your shiny new stadium having no tenant, so give us a better deal to ensure you have a tenant.

They're not stupid. Stubborn? Maybe. Greedy? Totally. But not stupid. They know there will be a NRL club there no matter what.

NRL should have put some money into building the stadium. Would have got a better deal then.

 

[El Diablo]

did lol@50uff$ put money into ANZ Bunniesderp?

nope

 

[BunniesMan]

did lol@50uff$ put money into ANZ Bunniesderp?

nope

No but we've managed to negotiate what is a great stadium deal compared to what the Titans have. Searle would cut off his right nut to be getting PAID to play at his stadium rather than forking out 300k.

If the Titans/NRL did invest part of the cost of building the stadium they would have been part of the stadium management and would have gotten themselves a far superior long term deal.

People don't have to like me but I'm 100% right on this.

 

[bad boy bubby]

Common sense approach.

I still think the NRL could buy into the COE though and actually be able to make money from it.



Nothing wrong with having a bit of vision and I can understand where he was coming from with it.

Do you realise how many construction businesses failed on the Gold Coast because of the GFC? That's the primary cause of the problem.

But now you're expecting Searle to have psychic powers to know just how much debt those companies were hiding.

Perhaps there's a good reason why Reed Constructions are pursuing this so hard - because they're probably about to collapse too!

Where are the people claiming that the construction industry on the Gold Coast will never work, let's get rid of it forever?

Oh wait - saying things like that would make you an idiot.

Perhaps another reason is they are owed 1.3 million?? I don't know about you but if I was owed that I'd go for it as well.

 

[El Diablo]

No but we've managed to negotiate what is a great stadium deal compared to what the Titans have. Searle would cut off his right nut to be getting PAID to play at his stadium rather than forking out 300k.

If the Titans/NRL did invest part of the cost of building the stadium they would have been part of the stadium management and would have gotten themselves a far superior long term deal.

People don't have to like me but I'm 100% right on this.

:lol:

 

[Alex28]

What needs to happen is Searle hands the whole lot back to the NRL and walks away. The NRL sells the club to a new consortium, retains the CoE and leases it out so they have an asset that will pay for itself in the future.

Win-win for everybody. Searle dodges personal bankruptcy, the Titans remain and the NRL eventually gets a very good asset.