That's more or less the ins and outs of it. The thing is though that nobody publicly knows the ins and outs of the deal it's self, all we know is that there was some sort of Brisbane/SEQ exclusivity clause that News negotiated for the Broncos after the SL war, and that it's now lapsed. In saying that though, it's assumed by most people that the clause covered just Brisbane and not all of SEQ because when expansion talks came about in 03-05, potential SEQ bids, like the Titans, were on the table, but Brisbane bids were most certainly off it. We do however know that when the Broncos originally joined the NSWRL in 1988 that they negotiated a three year Queensland wide exclusivity clause, and that the Giants were based in Tweed Heads instead of in Brisbane as a workaround. It's also rumoured that the Jeanswest bid (another bid for a license in Brisbane arguably as good as the Broncos bid) was offered the "GC" license first, but turned it down because they were only interested in a Brisbane license, which lead to the the Internationals Syndicate (i.e. the Giants, whom BTW originally bidded for a Brisbane license as well) being offered the GC license even though their bid was widely considered inferior. That suggests that, at least at some point, the NSWRL were looking at potentially having two teams in Brisbane before they were pressured to accepted the Broncos bid because of the unofficial support it had from the QRL and local RL community. They weren't anywhere near as well backed financially as the Titans, they didn't seem to be able to attract sponsors as well as the Titans, and from memory (so don't quote me on this) there were concerns about using the Cake Tin as their permanent home ground and where they'd be able to set up a permanent home in the long run. So yeah, maybe in hindsight the Orca may have been the better option, but at the time it didn't seem like it at all.