National Rugby League side Gold Coast Titans Founder Michael Searle "is set to sever his last links with Gold Coast rugby league, with the former Titans boss ready to sell" his A$4.4M ($3.4M) shareholding in the club he helped create, according to Peter Badel of the COURIER-MAIL. Searle "has advised the Titans board he is prepared to offload his stake to potential investors as the club fights to attract sponsors in a volatile commercial market."
Speculation on Wednesday suggested the National Rugby League "was ready to step in and take over the Titans’ licence amid fresh concerns over the club’s financial health." But Titans Chair Rebecca Frizelle "vehemently denied the Coast are in strife, saying the club’s board, including white-knight investor Darryl Kelly, is committed to their survival." Searle, who once held as much as 80% of the club's shareholding, said, "If approached, we would consider a sale or even a dilution if a new investor wanted to get involved in the Titans." Searle "is currently the club’s second-largest stakeholder" with 42,584 of 109,000 shares, comprising a total value of A$11.26M.
Kelly "is now the club’s largest shareholder" with 47.2% (COURIER-MAIL, 2/5).
