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iSelect Gold Coast Titans granted new license

applesauce

Bench
Messages
3,573
What happened to the other 2 bids to save the Titans, from actual local businessman.

That would see Searle turfed out. That can't happen unless the club goes down the gurgler and needs a bailout.

Searle was trying to find someone to ease the financial load and keep the club run by him.

That PNG article is old in relation to what has transpired since Searle approached him, with the creditors getting money now and the debt being lowered.
 

BunniesMan

Immortal
Messages
33,690
The development comes as the Queensland government's building watchdog, the Building Services Authority, steps up investigations into a complaint fraudulent documents were used to allow occupation of the Titans' ill-fated Centre of Excellence, which remains unsold.

The BSA responded to explosive allegations fire-rating forms were lodged on fraudulent grounds with the building's private certification company, Certis.
According to the complaint, the BSA heard the Centre of Excellence is a potential fire hazard to occupants - including Titans players and office staff - because the relevant fire-safety assessments have not been performed in accordance with Queensland building regulations.
...
The Gold Coast remains mired in uncertainty, with KordaMentha revealing the Titans' training facility has yet to be sold - more than three months after Searle publicly spruiked the sale to proposed buyers Philip Ward and Robert Clark.
Ward and Clark's company, Enterprise Investments Group Pty Ltd, are attempting to secure finance to buy the building and recoup the $4.8 million their companies provided in mezzanine loans to the Titans' property arm.
But such is their struggle, a deadline on the building's proposed sale has been extended from June 18 until mid-July.
http://www.dailytelegraph.com.au/sp...t-as-titans-boss/story-e6frexnr-1226421992555

Looks like the snake oil salesman found some more oil. We thought everything was solved months ago, turns out nothing was solved and more problems were created.
 

Fire

First Grade
Messages
9,669
1. Um, premises getting slapped with a "fire safety hazard" can be for something as trivial as not replacing the back-up globes in exit lights or fluorescent tubes in fire escape stairways.

2. Exchanging of contracts between all parties involved in a sale as large as the Centre of Excellence can take many months. It does not mean that the sale is not going through. I thought you would know this BunniesMan. You know, with having investment properties of your own and all...
 

Parra Pride

Referee
Messages
20,032
The development comes as the Queensland government's building watchdog, the Building Services Authority, steps up investigations into a complaint fraudulent documents were used to allow occupation of the Titans' ill-fated Centre of Excellence, which remains unsold.
The BSA responded to explosive allegations fire-rating forms were lodged on fraudulent grounds with the building's private certification company, Certis.
According to the complaint, the BSA heard the Centre of Excellence is a potential fire hazard to occupants - including Titans players and office staff - because the relevant fire-safety assessments have not been performed in accordance with Queensland building regulations.
...
The Gold Coast remains mired in uncertainty, with KordaMentha revealing the Titans' training facility has yet to be sold - more than three months after Searle publicly spruiked the sale to proposed buyers Philip Ward and Robert Clark.
Ward and Clark's company, Enterprise Investments Group Pty Ltd, are attempting to secure finance to buy the building and recoup the $4.8 million their companies provided in mezzanine loans to the Titans' property arm.
But such is their struggle, a deadline on the building's proposed sale has been extended from June 18 until mid-July.

You heard it here first.
 

Perth Red

Post Whore
Messages
66,655
No guarantees in life!

Re why it is hard for GC,
1. The stadium deal is a killer financially
2. Crowd wise they have been doing ok despite the ridiculous cost of tickets
3. GC is a strange community mix of transient people and retirees from other Satets where RL is just one amongst many popular sports
4. They are being challenged for the fan and corporate supporter base by a very well financed, slickly run AFL expansion team.
5. It is still very early days in the life of a new club, every modern new club has taken well over a decade to get established (Cowboys, Warriors, Storm etc)
6. They made a bad business decison on a building project which has come back to haunt them, take that out and are they really doing any worse than other clubs?
 

BunniesMan

Immortal
Messages
33,690
Looks like this story wasn't just BS like some suggested. It seems it has legs.
The Queensland Police have confirmed they are investigating allegations a fraudulent document was used to allow the Centre of Excellence to pass a building inspection.
The matter relates to a key government document bearing the name of Brisbane-based tradesman Graham Fredericks, who claims his signature was forged to enable the Centre of Excellence to pass inspection and be occupied.
...
Fredericks has submitted a statutory declaration to the BSA and police saying he has never performed work on the Titans' training facility.

"I have never set foot in or anywhere near the Centre of Excellence," Fredericks told The Sunday Mail. "I never signed the form. Someone has used a photocopy of my signature. The Titans shouldn't even be in the building . . . how was it legally certified when I did no work there and it's not my signature?"
http://www.dailytelegraph.com.au/sp...-doubt-yet-again/story-fnbh08qq-1226426260229

Very worrying.
 
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