The Gold Coast Titans’ property trust was placed into voluntary administration on Thursday, putting the Titans Group in a better position to pay creditors.

The Titans say the move shores up the viability and sustainability of the NRL club, allowing them to reduce debt within the Titans Group.

It will also assist in the sale of the club’s Centre of Excellence.

Titans managing director Michael Searle has been in discussions with the administrators to put forward a deed of company arrangement which would see creditors receive a better return than if the trust were to go into liquidation.

“We are aiming for the best possible outcome for the creditors in these most difficult of circumstances,” said Searle.

“While the decision was not an easy one, in the end it was the best option for all concerned.”