A potential white knight has gone public with his proposal to save embattled NRL club Gold Coast from financial ruin.

Bill Rae, a former director with expansion bid team Brisbane Bombers, said his consortium’s interest in taking on the Titans franchise was genuine.

Debts reportedly ranging from $25-$35 million – mainly due to failed investments relating to the group’s property arm – have left the Titans on the brink of collapse.

But Rae, whose company RCI Military Logistics – which was last year awarded a multi-million defence contract with the Australian government, said he was ready to step in.

“We have met with the representatives Australian Rugby League Commission and expressed interest in moving forward to ensure the continued and successful growth of the game within the South-East Queensland region,” Rae said in a statement via his company.

“RCI would like to stress that its preference is to preside over a regeneration of the rugby league brand within this region.

“If the proposal that is currently being presented is seen as a positive to this regeneration to the brand, then we are very keen to pursue and continue further discussions with the appropriate parties.

“If however our plan is not seen as the way forward, then we are happy to move aside to allow for the best path forward to be laid by an alternative consortium and/or current administration.”

Rae said his bid was not an attack on the current administration, with the future of chief executive Michael Searle still under a cloud.