I think you need to educate yourself a bit and separate your feelings from the facts. You're not being objective and you're comparing apples with oranges.
The Gold Coast Chargers were the first "Gold Coast" club to actually be based on the "Gold Coast". They had money in the bank when they were culled by the ARL/News Ltd in 1999. Less viable Sydney clubs, like the Sharks, were kept around.
The Gold Coast-Tweed Giants and Gold Coast Seagulls were based in the tiny NSW city of Tweed Heads. Their failures are on NSW, but for some reason people from NSW like to call them a Queensland team.
There were extenuating circumstances that plagued the Titans from day one. You refuse to acknowledge them.
I think you need to take a good long hard look at the perilous history of Cronulla. It has been mired in debt for much of the last 25 years and was the worst performing Sydney club prior to the outbreak of COVID-19. In 2019 it was $5.45m in the red and had to shed staff. It is asset poor now that it has sold off a chunk of land and is burning through the profits of the sale at an alarming rate. At one stage it had a debt with the St George Bank that spiralled out to $14m, despite having a Leagues club full of pokies to fall back on. COVID-19 has allowed them to taper over the cracks with bailout money handed to all of the clubs to get through the crisis. The real test will be when COVID-19 is over and they have to rely on gate receipts, merchandise sales and sponsorship deals. History shows they just don't have enough fans to do well in these three areas.
"Sharks
2019 result: $5.45 million loss
Analysis: Long considered one of the NRL's financial strugglers, Cronulla's football club has been beset with money woes for years. It racked up almost $6 million in losses in 2019 and faces an overall $7.71 million black hole. Without the ongoing support of its leagues club entity it wouldn't exist and also had to deal with the NRL's salary cap fine last year. The Cronulla-Sutherland Leagues Club finished the last financial term with a $3.19 million operating deficit itself, but can boast $16 million in cash reserves and $30 million in total equity after selling off more property around its complex. After the reporting term it also secured another $12 million for selling airspace rights adjacent to the leagues club, which is closed for two years for redevelopment. While it may have cash reserves now, the group is asset poor compared to other NRL clubs and their backers, and will trade out of Kareela Golf Club after an amalgamation was finalised late last year. While it has money in the bank it is still a concerning time for the Sharks and their supporters."
The Sydney-based NRL clubs lost about $12 million between them in their last available annual reports.
www.smh.com.au
"When the debt to St George Bank blew-out to $14 million three years ago, Cronulla’s survival was effectively in the hands of their bank manager."
A MYSTERY investor has hauled Cronulla from bank debt, providing more than $3 million to help the club finally erase a St George Bank loan that was drawn nearly 15 years ago.
www.news.com.au
