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New 'Mystery Consortium' Enters Hunt To Buy NRL Side Gold Coast Titans

A "cashed-up mystery consortium has emerged as a genuine threat" to National Rugby League side Gold Coast Titans "white knight" Darryl Kelly's bid to buy the team, according to Travis Meyn of the Brisbane COURIER-MAIL. The NRL "put the Titans up for sale after offloading Newcastle last week," and the governing body "is expecting a flood of interest in the Glitter Strip franchise." Kelly will meet with potential investors this week, including Chair Rebecca Frizelle, to finalize the consortium's takeover proposal. But he is "facing stiff competition from at least one other group which has secretly flagged interest with the NRL." The group "is separate to the North Sydney Bears, who have declared their interest in buying the club," but the NRL is "reluctant for the Gold Coast to undergo a rebranding from the Titans to Bears." In '13, Kelly "saved the ­financially stricken Titans, investing in the club along with Indian property tycoon Anshuman Magazine." Kelly is estimated to have lost at least A$5M during his first ownership of the Titans. He said, "This time I know the business. Last time it was purely emotional as I was trying to help them out" (COURIER-MAIL, 7/23).

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