Clubs That Are Supposedly "In Trouble"

[Weaponhead82]

Weren't the roosters in strife too? I recall something about them asking members to pay extra so they could buy new gym equipment

 

[Sharkeye]

I think you will find it is the owner of the titans that is struggling, that is why he pushed so hard for the change to the structure of the NRL. He needs more money from his investment quick, otherwise we might be able to pick up Birdy at a receiver sale

 

[slide rule]

Phil Gould helps broker PNG deal to save Titans

• by:Josh Massoud and Peter Badel
• From:The Daily Telegraph
• March 15, 201212:00AM

PHIL Gould is steering Gold Coast Titans toward a sell-off package with the Papua New Guinea government that will help secure the club's future.
The Titans faced multi-million dollar debt over the past three years and their $30 million property arm was the subject of liquidation proceedings in the Federal Court.
But the ATO dropped its application yesterday.

The Daily Telegraph can also reveal Gold Coast boss Michael Searle sought and received an unspecified advance on the club's $4 million NRL grant in recent weeks.
The Australian Tax Office lodged an application on February 16 to wind up Gold Coast Titans (Property) Pty Ltd, which owns and operates the Centre of Excellence at Robina.

Reed Constructions, which completed the development in 2010 and is understood to be pursuing Searle for $1.5 million, joined the proceedings this week.
Titans lawyer Ashley Tiplady said the ATO's application was "filed in error" after uncertainty over the company's GST commitments had been resolved.

But Reed's solicitor indicated the company might now assume the wind-up proceedings in a bid to reclaim costs.

Searle is no stranger to financial disputes with builders over the Centre of Excellence, which sparked an ugly spat with original contractor Simcorp in late 2009.
Having borrowed $13 million from the Commonwealth Bank to fund the multi-storey Robina complex, Searle has been under growing pressure to liquefy his assets and last year started negotiations to sell off part of the Titans empire to potential investors.

In November 2011, The Daily Telegraph revealed those talks had included PNG officials desperate to advance PNG's bid for NRL inclusion.
At the time, Searle described suggestion he'd sell as "disrespectful and repugnant".

But his tune has now changed - with the help of long-time ally Gould.

The Daily Telegraph can reveal the pair travelled to Port Moresby in January to escalate sell-off negotiations with representatives from the PNG Prime Minister's office.
A well-placed source said discussions were held at the Airways Hotel in the capital.

Preliminary talks indicate Searle is prepared to sell 25 per cent of the group for an alliance in which the Titans could play a trial in PNG and promote the bid team's logo.

Both Searle and Gould refused to divulge details when contacted last night.

"As you will no doubt appreciate, commercial and other sensitivities apply, and I am bound by a duty of confidentiality in relation to discussions to date," Searle wrote in an email.

"Certainly, I believe any move that would expose and develop rugby league in Papua New Guinea would benefit not only Papua New Guinea but rugby league as a whole.

"In the meantime, I can only say what I said last year, that the Titans are a Gold Coast team, and will always remain a Gold Coast team, regardless of any link to PNG."

In a text message, Gould added: "I have been conversing with PNG Government and bid team officials since I travelled to PNG nearly two years ago and I have met with them on numerous occasions during that time on a whole range of issues ... I am bound by confidentiality on all other issues (involving the Titans)."
The NRL last night confirmed it was aware of the talks, revealing another grant advance had been approved in recent months.

http://www.dailytelegraph.com.au/sp...l-to-save-titans/story-e6frexnr-1226299738852
http://www.dailytelegraph.com.au/sp...l-to-save-titans/story-e6frexnr-1226299738852

:bulgy-eyes:

Hmmm... I would've thought that the png government should have higher priorities on where to spend money than this.

 

[Gow's Scissors]

conflict of interest surely?

 

[Sixgill]

:bulgy-eyes:

Hmmm... I would've thought that the png government should have higher priorities on where to spend money than this.

Agreed.

 

[WillyInBris]

The one that sticks out on the Radar is the Titans something just wasn't right down that way this year and I fear with another season like the one that passed they could be in real trouble....

I have been saying it for some time they are fighting a battle with nothing in the bank they have absolutely nothing but some sponsors they own jack all and they are living day to day.

Two of the friends of mine didn't sign back as members this year they have lost all interest in the club typical QLD supporters no heart they will probably start following the Reds because they are winning.

As for PNG lol Gould, what a waste of time the government is so corrupt the game will never make it there they have bigger problems to worry about then having a NRL team FFS.

 

[Art Vandelay]

thats a disgrace.

some corrupt 3rd world government helping out an aussie football team.

what a joke.

in regards to clubs. titans are in strife. souths..the LC debt is quite large and this is the year that Crowe and HAC can sell the club back if they wanted to.
if he did, they would be ****ed very quickly.

manly have their issues.
parra..dont know about that so much.

we are in the situation we are in. however i dont see other clubs with the fortune of owning land or with a sustainable business plan/long term project that we are trying to succeed in.

would not suprise me if a few clubs went to the wall.

 

[Card Shark]

I can't see any club going to the wall as such, the NRL won't allow it. They will just relocate them to 1 of the areas under consideration for expansion.

 

[Mr Ryan]

It just proves that we are not the club in financial trouble.

That's why you'll never hear another boss of a Sydney club put the boot into us. Most realise that if they had a 2009-type season like we had it would be all over for them.

So really I think we never just be kicked out of the comp Norths style.

At the very worst it will be relocation or a merger with another Sydney club.

 

[Mark^Bastard]

From what I understand a lot of the debt is down to previous failed attempts to get the development going.

I'd love to know the full figures but it seems like if no one ever tried to do that, we'd be going alright now.

 

[Mark^Bastard]

Oh, add the coach sackings / payouts too.

Point is we are viable without the stupid mistakes.

 

[Art Vandelay]

From what I understand a lot of the debt is down to previous failed attempts to get the development going.

I'd love to know the full figures but it seems like if no one ever tried to do that, we'd be going alright now.

that and the footy club was losing heaps. last season under the old admin lost 3 million wasnt it?

all adds up.

 

[Mark^Bastard]

footy or leagues?

 

[slide rule]

I think the Gold Coast situation should also demonstrate that starting up a new club in an emerging market isn't as easy as some would have you believe.

It's very costly to get a bid together, build a supporter base, find (or build) a suitable ground and training base, recruit a new playing roster from scratch, get and pay a coach and staff, design logos, jerseys etc, pay rent on premises etc etc etc. And many of these costs are incurred before a ball is even kicked. According to "Buzz" the AFL have spent $100 million on GWS!

 

[Matty C of the Shire]

I think the Gold Coast situation should also demonstrate that starting up a new club in an emerging market isn't as easy as some would have you believe.

It's very costly to get a bid together, build a supporter base, find (or build) a suitable ground and training base, recruit a new playing roster from scratch, get and pay a coach and staff, design logos, jerseys etc, pay rent on premises etc etc etc. And many of these costs are incurred before a ball is even kicked. According to "Buzz" the AFL have spent $100 million on GWS!

It's more like between 100- 200 million make

 

[tips]

i heard manly are in serious trouble off the field, way worse than has already been reported

Apparently it will be interesting to see how long a publicly listed company that is posting massive negative results can continue to support a football club that has never posted a positive result and as is widely reported, never will.

you'd probably be upset if you had shares in that company or your super fund did!

 

[Mark^Bastard]

Where did you hear that?

 

[Art Vandelay]

footy or leagues?

the football club lost money. under the peirce reigime etc

the new admin has reigned in the spending and therefor we dont lose nearly as much.

 

[tips]

some people i know in the news..

i think people could actually connect the dots themselves if they could be bothered through the asx or asic.gov.au, its all public information..

 

[slide rule]

some people i know in the news..

i think people could actually connect the dots themselves if they could be bothered through the asx or asic.gov.au, its all public information..

Well would they mind sharing it with the world rather than sticking the boot into us every time someone has to wait 5 minutes for a meat pie...?

I'm sick of our club being accused of "holding the League back" while most other clubs also continue to struggle financially. :take that