Dave Smith will make a major announcement about the Titans

[insert.pause]

they were forced into a position to underwrite the debts. would this have happened if their players weren't charged with drug trafficking? who knows, but it's not "the good news story" dave smith makes it out to be.

The scandal meant the club would have no hope of a securing sponsors and if it was to continue owners would have had to inject more funds, or the NRL would have had to, which unwilling to do has provoked the decision to be placed in voluntary administration so instead of providing a loan the NRL could instead take full ownership.

 

[Dogs Of War]

dave also refused to discuss those key points in the press release

Why would that be? Because he doesn't have all the facts yet, other than the club has financial trouble, and with the issues regarding players, can't see the situation improving in the short term. As I said before, I'm sure the NRL thought that the best way forward was if they were going to be putting money into the club, that they should have control of the actual club to ensure it works correctly.

 

[Mr Angry]

THE NRL has taken control of the ownership of the Gold Coast Titans in a move to secure the under-siege club’s long-term future.
Smith and other members of the NRL’s executive team flew up to the Gold Coast for crisis talks with the club last night and this afternoon Smith confirmed that he would “build a club the fans can be proud of”.
“This is an exciting day for the club ... it ensures its long-term future on the Gold Coast,” Smith told a press conference.
Smith was at pains to clarify that the NRL was now the club’s “sole shareholder” but would not be running the club, with the Titans’ current board and management team remaining in place.

LINK

 

[Pig Champion]

ok so i've listened to the whole press announcement....essentially what has happened is the titans have gone into administration. the nrl have recognised that this is not a good look and have the commercial decision to underwrite the guarantee required from the new administrators to keep them afloat. the press announcement is simply a song and dance from dave smith to cover-up the real news that being the titans in voluntary administration today

He actually mentioned the club had gone into voluntary administration and that was why the NRL had stepped in.

 

[Craig Johnston]

Why would that be? Because he doesn't have all the facts yet, other than the club has financial trouble, and with the issues regarding players, can't see the situation improving in the short term. As I said before, I'm sure the NRL thought that the best way forward was if they were going to be putting money into the club, that they should have control of the actual club to ensure it works correctly.

he does have all the facts, the nrl clubs signed an agreement last year that any financial considerations such as early grant payments etc would require full disclosure around why it was required.

a journalist asked dave to specifically drill into the details of the issues, when he hesitated, the journo prompted him asking him was it sponsorship, was it facilities (lack of), to which dave finally acknowledged "you just listed them" again without going into specifics. it just reeked of a pr smother

 

[Craig Johnston]

He actually mentioned the club had gone into voluntary administration and that was why the NRL had stepped in.

he refused to discuss anything further on this

 

[Dogs Of War]

What further details need to be made public? The journo listed everything that is wrong with the club. He acknowledge that. Getting into more detail doesn't help the club, if anything it worsens the situation if creditors decide that they want their money now after hearing the detail.

 

[Canard]

they were forced into a position to underwrite the debts. would this have happened if their players weren't charged with drug trafficking? who knows, but it's not "the good news story" dave smith makes it out to be.

the difference between this ownership and the knights is that the knights had a clear deadline on when the ownership would be transferred away from the nrl, this is not the case for the titans, and opens up the issues again dealing with the melbourne storm ownership

No club being taken over by the NRL is a good news story?? What is good news for Titans fans is that they can be confident that the NRL supports the ongoing operation of their club.

Your taking a weird stance on this? Its like you think that this is being reported as the greatest thing to ever happen to Rugby League, rather than the NRL stepping in to rescue a club in crisis.

 

[Canard]

he does have all the facts, the nrl clubs signed an agreement last year that any financial considerations such as early grant payments etc would require full disclosure around why it was required.

a journalist asked dave to specifically drill into the details of the issues, when he hesitated, the journo prompted him asking him was it sponsorship, was it facilities (lack of), to which dave finally acknowledged "you just listed them" again without going into specifics. it just reeked of a pr smother

What did you expect him to say?

"The place is f**ked"

What's your point/agenda here?

 

[t-ba]

NRL announced this afternoon, they won't be changing their name.

In all honesty they should just burn the brand to the ground. It was absolute shit from go to woe and now is a chance to give it something better than this weird Child Hoplite theme.

 

[Pig Champion]

he does have all the facts, the nrl clubs signed an agreement last year that any financial considerations such as early grant payments etc would require full disclosure around why it was required.

a journalist asked dave to specifically drill into the details of the issues, when he hesitated, the journo prompted him asking him was it sponsorship, was it facilities (lack of), to which dave finally acknowledged "you just listed them" again without going into specifics. it just reeked of a pr smother

Probably a News Ltd journo frustrated that he can't go directly to an insider anymore.

 

[Pig Champion]

What did you expect him to say?

"The place is f**ked"

What's your point/agenda here?

Exactly.

 

[insert.pause]

he does have all the facts, the nrl clubs signed an agreement last year that any financial considerations such as early grant payments etc would require full disclosure around why it was required.

a journalist asked dave to specifically drill into the details of the issues, when he hesitated, the journo prompted him asking him was it sponsorship, was it facilities (lack of), to which dave finally acknowledged "you just listed them" again without going into specifics. it just reeked of a pr smother

I don't believe that is accurate, and anyway disclosure and public disclosure are not the same thing.

He said the board had come to the conclusion that they could no longer meet their obligations, going into further detail would have issues around commercial confidentiality, particularly with creditors.

I don't think it's surprising that he was putting spin on it, hes trying to reassure fans and sponsors and restore confidence in the clubs future, his job isn't to talk the game down.

 

[Sydney Knight]

Bring back Jeff Muller

 

[Craig Johnston]

What did you expect him to say?

"The place is f**ked"

What's your point/agenda here?

i don't have an agenda mate, i've been a long time supporter of seeing the titans survive, evidenced on this forum prior to the drugs scandal.

the issue i have with dave's pr is that the news of administration and nrl control are both of equal importance, but dave chose to use the p.a vehicle today to damage control a situation and a topic he really didn't want a bar of.

 

[Perth Red]

Wow good job the NRL is loaded, if this was going on a few years years ago these clubs would be stuffed! So that's Titans, St's, Wests, Storm & Newcastle all being "supported" by the NRL. Not a good look for the game when nearly a third of your clubs are in strife. I bet Dave didn't think he would be running clubs as well as the game when he took on the job lol.

 

[OVP]

They should move to the Sunshine Coast or Central Qld. Gold Coast teams never seem to work in any code because of the party lifestyle i guess. Shame really.

 

[Perth Red]

re the clubs finances, not hard to see where the problems are. Compared to say Souths or Bulldogs their budget has to support a $5.4million difference in stadium rent! (Souths get $1.6mill for playing at ANZ, Titans have to pay $3.8mill in stadium rent) Plus a $1million main sponsor hole and dwindling crowds. You'd think the hole the NRL would be filling is probably in the $2million+ a year range?

Hopefully NRL taking over will sort out the stadium rent fiasco that has put them in this hole.

 

[Flapper]

Wow good job the NRL is loaded, if this was going on a few years years ago these clubs would be stuffed! So that's Titans, St's, Wests, Storm & Newcastle all being "supported" by the NRL. Not a good look for the game when nearly a third of your clubs are in strife. I bet Dave didn't think he would be running clubs as well as the game when he took on the job lol.

Can someone who knows more than I compare this to other teams being propped up in other codes? I know it's at least two of the 5 Super Rugby teams.

 

[Canard]

re the clubs finances, not hard to see where the problems are. Compared to say Souths or Bulldogs their budget has to support a $5.4million difference in stadium rent! (Souths get $1.6mill for playing at ANZ, Titans have to pay $3.8mill in stadium rent) Plus a $1million main sponsor hole and dwindling crowds. You'd think the hole the NRL would be filling is probably in the $2million+ a year range?

Hopefully NRL taking over will sort out the stadium rent fiasco that has put them in this hole.

This has to be high priority.