A secret consortium of businessmen worth millions are planning the Gold Coast Titans’ revival
Peter Badel
The Daily Telegraph
August 07, 2014 12:00AM
A SECRET consortium of wealthy businessmen are formulating plans to invest in the Titans and lead the club’s revival following the departure of John Cartwright and Michael Searle.
The Courier-Mail can reveal a team of Queensland-based executives are keen to meet with the Titans board to discuss investment options to make the club an NRL powerhouse.
One option is to buy out Searle, who despite his resignation remains the Titans’ largest shareholder, having outlaid $4.56 million for a 40.6pc stake of the club he built.
Money is not an impediment for the consortium, who collectively are worth several millions after accruing personal wealth in the finance and banking industries.
The businessmen wish to remain anonymous but are serious about their investment plan, first meeting with the NRL two years ago during the Titans’ $25m debt crisis.
A fresh bid was launched six weeks ago, with a consortium chief enlisting the help of former Queensland Origin lock Scott Sattler, who was the Titans’ foundation football manager.
The cluster of senior executives will look to meet with Titans hierarchy in the coming weeks to gauge the board’s interest in their involvement.
“Over the last few weeks, they have made fresh contact to once again be positioned to talk about possible investment into the Titans,” Sattler said on Wednesday night.
“This is not a takeover bid. This is about where they can fit into the puzzle to take the Titans forward as a great NRL franchise.
“Basically, they would like to talk to the right people, whether that be Bec Frizelle or Darryl Kelly (Titans co-owner).
“They are interested in buying into an NRL club and they see a lot of potential in the Titans.
“I guess with my past links to the Titans, I understand the Gold Coast landscape. They wanted to pick my brain on several key facets, including recruitment, the community and the operational matrix of an NRL club.”
The financial heavy-hitters first attempted to buy the Titans in 2012. At the time, the Titans were drowning in debt and the consortium engaged Scott Hill, the former Melbourne and NSW pivot who has links with one of the executives.
Hill contacted Sattler to relay their interest and a meeting was set-up with an NRL representative, but the governing body was reluctant to strip Searle of the Titans licence.
“They met with the NRL representative,” Sattler said.
“Discussions were built around how to engage the community, whether they would accept the Titans name and whether would they invest with or without Michael Searle.
“It was at a time when the licence was in question, but the NRL didn’t want to walk away from the Titans brand.
“Hopefully, they can get another look in for some involvement. These businessmen are genuine about helping the Titans and they have serious business acumen.”
