BRONCOS chief executive Paul White is shocked at speculation News Limited is considering selling the club as part of its exit from rugby league.
A Sydney report yesterday said an accounting firm had been engaged to perform due diligence on the Broncos, suggesting the media conglomerate, owner of The Sunday Mail, may offload its 68 per cent stake in Queensland's flagship NRL team.
White insists he is unaware of any News sell-off, which would represent one of the biggest upheavals since the Broncos' inception in 1988.
A well-placed source said last night an eventual Broncos sale was still a "real possibility''.
News Limited has already diluted its involvement in the code since the birth of the ARL Commission last February.
The organisation has also fielded an overseas expression-of-interest in its other NRL team, the Melbourne Storm, fuelling speculation it is only a matter of time before News formally severs links with the Broncos.
White, however, said if the Broncos are about to lose their majority shareholder, it is news to him.
"It's business as usual from our point of view,'' White said.
"I have read the story. We have received no formal notification from News Ltd that they are contemplating any change to their shareholding at this stage.''
Asked if News could eventually decide to offload the Broncos, White said: ``It's not something I can comment on. The communication to the club is that they are happy with their shareholding and until I receive advice to the contrary, it's business as usual.'
''There has been no change to the club's position.''
Asked if an accounting firm had been engaged to perform due diligence on the Broncos, White said: ``Not at all. I have received no information in relation to that.''
News have previously fiercely protected their majority stake in the Broncos.
In 2009, shareholding triumvirate Tony Scanlon, an 11 per cent owner of the Broncos, John Geaney (10pc) and Craig Davison (3.7pc) attempted a buyout of the Broncos, only to be knocked back by News.
The trio again failed to increase their 24.7 per cent stake a year later. Brisbane-based businessman Davison eventually offloaded his three million-plus shares in August 2011 to focus on other projects, including heading up the Brisbane Bombers' NRL expansion bid.
Scanlon, who owns approximately 11 million shares in the Broncos, told The Sunday Mail he had not received any information a News sell-off was imminent.
``News have always had a position that they aren't selling and I am not aware of any attitude change,'' Scanlon said.
``Because it is a publicly-listed company, the Broncos are governed by the ASX (Australian Stock Exchange)-listed rules.
``If there was a formal transaction imminent, the shareholders would be notified.
``Because of the stake I have, if News wanted to make a transaction, there would have to be a vote which would mean the other shareholders would be consulted.
``At this stage, that has not happened. Over a period of time I have made a few overtures to buy the Broncos and News have always maintained they have no interest in offloading their stake.''
The Broncos are fiscally healthy, with the club having announced a pre-tax profit for the June half-year of $2.22 million, up from $1.16 million for the corresponding period in 2011.
``At the moment the club is in a really good space under the leadership of Paul White and hopefully we have an exciting year ahead of us,'' Scanlon said.
``I am happy with where the club is from a financial and playing roster perspective.''
Former shareholder Craig Davison said he was no longer interested in part-owning the Broncos, but believed the club was worth as much as $40 million.
``It's a very good business to buy. That's why we thought about it,'' Davidson said.
``If the club was sold tomorrow, and you factor in the Broncos brand, it could be worth up to $40 million.''
``News have made moves to exit the game and they may feel as a media empire and operation they do not need to own a football team.
``It was some time ago that myself, Tony Scanlon and John Geaney offered to buy the club but it didn't materialise.
``I'm surprised if News are selling the Broncos but perhaps it could be an opportune time for it to happen.''
