Newly appointed Gold Coast co-owner Rebecca Frizelle has started with a bang, announcing former Brisbane chairman Dennis Watt as the NRL club’s new executive chairman.

The Gold Coast businesswoman announced Watt’s posting at the same press conference that she, Darryl Kelly and their partners Joanne Kelly and Brett Frizelle were officially named as the club’s new owners.

Watt stepped away from the Broncos in October after fours years in the hot seat and 14 on the club’s board.

He will take over from Frizelle, who stood down during the ownership changeover process and joined Kelly’s bid team.

The Frizelle-Kelly team put a five-year plan to the NRL, with Kelly estimating the Titans to be a profitable and successful outfit within three years.

Frizelle said Watt, who helped establish the Broncos as one of the country’s leading commercial sporting brands, would be a coup for the club.

“(It’s) one of the most significant recruitment victories in the history of this club,” she said.

“We know that Dennis was in understandably high demand after deciding to leave the Broncos, so for him to join the Titans is a tremendous show of faith in the plans that we have for this club to reach its true potential.”

The Frizelle-Kelly partnership was officially handed the keys to the club by NRL chief executive Todd Greenberg on Friday, ending a draw-out sale process that officially began in late August.

The pair were in a two-way battle with Stuart McAuliffe to buy the NRL-owned club.

The NRL took over the troubled franchise in 2014 after it ran into financial difficulties.

Kelly lost $5 million after the club’s collapse three years ago, but wanted to remain involved and, along with Frizelle, has worked overtime to keep the ship afloat.

Several prospective owners, including the North Sydney Bears and Brisbane Bombers’ NRL bid team, also expressed an interest in taking over the club.

Greenberg said the consortium was the right one to ensure long-term stability for the code on the Gold Coast.

“We said all the way through this process that our primary aim was to ensure the Titans become a well-run, profitable and successful club for their fans and the local community,” Greenberg said.

Kelly said he would relish the return to his former post.

“I’ve been involved in this game throughout my life at a regional and grassroots level, and while my time with the Titans has been challenging, I genuinely believe we can make a difference now that the ownership has been resolved,” he said.