The Gold Coast fund manager "attempting to secure" the National Rugby League side Titans' license "has pledged to dramatically increase investment in the region and make it his mission to crush" the Australian Football League on the tourist strip through "sheer weight of money and community engagement," according to Brent Read of THE AUSTRALIAN. Investment management company John Bridgeman Managing Dir Stuart McAuliffe has reportedly "been working with the NRL for two years on piecing together a bid to take over the cash-strapped Titans." It is understood he is "now locked in a head-to-head race" with former directors Rebecca Frizelle and Darryl Kelly for the license, which has been in the hands of the NRL since the club "was saved from collapse" in '15. The NRL is expected to make a decision on who takes over the license in the coming weeks, "having already asked the interested parties to make their final bids." McAuliffe "is believed to have pledged significant funds to invest in the region and said he planned to retain the club’s existing management" -- including CEO Graham Annesley -- if he "ultimately held sway." While "reluctant to comment extensively on his bid, McAuliffe did confirm it would in large part be personally financed," with his listed company "also taking an ownership stake." It "is understood aside from a cash offer to the NRL, the bid also involves substantial capital injection on the coast" as well as additional funds for management and community programs (THE AUSTRALIAN, 11/6).
NO THANK YOU: In Brisbane, Peter Badel reported British billionaire Marwan Koukash "has ruled out buying the Titans, claiming the club has no future on the Gold Coast" after amassing a A$12M ($9.2M) debt in the past four seasons. Official NRL accounting data reportedly "paints a grim picture of the Gold Coast’s revenue streams and the battle ahead for prospective owners to turn the Titans into a viable operation." Since the start of '14, the Titans have lost a "staggering" A$12,627,461($9.7M). Koukash is skeptical of whether the Titans can flourish. The "flamboyant tycoon," who last month sold Super League side Salford after four years of ownership, "has dreams to buy" an NRL license and has been linked with a Titans sell-off. But "after reviewing Gold Coast’s finances, the 59-year-old declared he has no interest in being part of the bid process, fearing the Titans cannot be salvaged." Koukash: "I want to clear this up. I am not in the running for the Titans license. I won’t be making an offer. I would be interested in buying an NRL club in the future, but I won't buy the Titans" (COURIER-MAIL, 11/4).
