The vultures are circling embattled Gold Coast with two consortiums putting up their hand to take over the debt-ridden NRL club.
Bill Rae, a former director with expansion bid team Brisbane Bombers, expressed his consortium’s interest in taking on the Titans franchise, while another bid involving former Melbourne and Australian Test representative Scott Hill are also willing to be the club’s white knight.
The Titans are facing debts reportedly ranging from $25-$35 million – mainly due to failed investments relating to the group’s property arm.
Hill said the ARL Commission (ARLC) was aware of his group’s interest.
“There’s an email that’s been sent just to give an indication of our commitment towards it,” Hill told AAP.
Hill said his group was ready to go now should they get the go-ahead from the ARLC, who are still conducting their own investigations via external auditors.
The league is hopeful of having a report from the auditors next week, but no movement is likely before the Titans’ case with Reed Constructions heads back to the Federal Court on April 20.
Hill said his consortium was convinced the Titans brand could work on the Gold Coast under the right management structure.
“Absolutely, I think the brand itself can work, it’s just been handled poorly,” Hill said.
“That’s what’s stopping a lot of corporates and the community connecting.
“That’s the main strength of what we want to do – we want to keep it the same.
“We want to come in with the right people business-wise, the right financial backing and the right people with expertise in the football brand.”
While the debts can largely be attributed to non-football matters, Hill took aim at some of the club’s footballing decisions.
“Ticket prices are also a major issue,” he said.
“When you’ve got to pay double the price for a ticket to what you’ve got to pay to go to a Broncos game – you find it’s very hard to engage the community with that sort of structure.”
Rae, whose company RCI Military Logistics – which was last year awarded a multi-million defence contract with the Australian government – also went public with his bid.
“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.”