Analysis Single Malt GC Sporting Updates (TITANS NEWZ)

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Titans’ bigger hole

THE financial black hole at the Gold Coast’s failed rugby league club the Titans is likely to be “significantly more” than the $2m reported yesterday, according to the man charged with cleaning up the mess.

NRL bosses have seized the Gold Coast licence and given it to a new corporate vehicle, to be run by the Titans’ existing directors, leaving Rob Moodie of Rodgers Reidy as one of the administrators of the old shell.

Moodie said he didn’t yet know how much the Titans owed. “I’d say in total it’s going to be significantly more than $2m,” he said. “If you look at a rugby league club, the assets that it has other than the value of the goodwill are limited.”

While the financial collapse came at the same time as a cocaine scandal, Moodie said the two were unrelated. “The issue is related to the viability of the company and the inability of the existing shareholders to provide additional funding,” he said.

Moodie’s no closer to determining who sits behind mystery 14 per cent shareholder Burnell Holdings, registered in tax haven the British Virgin Islands (Margin Call, yesterday).

The company is said to belong to CBRE India boss Anshuman Magazine.

“It may well be that that is something we look at in due course but at the moment is on the creditors and getting them paid,” Moodie said.

He said he hoped to have a report out to creditors within a month.

Meanwhile, with the NRL bankrolling operations, it’s more or less business as usual.
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http://www.theaustralian.com.au/bus...io-merger-riches/story-fnp4m2h5-1227239092554
 
GC2015 said:
http://www.foxsports.com.au/nrl/nrl...day-celebrations/story-e6frf3xc-1227240443753

Did anyone see this? Five positive drug tests for the titans mad monday back in 2007 and it says none of the currently charged players were at the club back then. They swept it under the carpet and kept it in house. Boy oh boy this club has a long history of wrongdoing.
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Not true at all. They did what was required under the drug policy http://www.theaustralian.com.au/arc...ikes-drug-policy/story-e6frg7n6-1111113279234
 
GC2015 said:
http://www.foxsports.com.au/nrl/nrl...day-celebrations/story-e6frf3xc-1227240443753

Did anyone see this? Five positive drug tests for the titans mad monday back in 2007 and it says none of the currently charged players were at the club back then. They swept it under the carpet and kept it in house. Boy oh boy this club has a long history of wrongdoing.
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I thought the NRL didn't have a multiple strike policy? Or was it different in 2007?

EDIT: Ringleader answered my question. I much prefer a two strike policy over a three strike, personally.
 
GC2015 said:
http://www.foxsports.com.au/nrl/nrl...day-celebrations/story-e6frf3xc-1227240443753

Did anyone see this? Five positive drug tests for the titans mad monday back in 2007 and it says none of the currently charged players were at the club back then. They swept it under the carpet and kept it in house. Boy oh boy this club has a long history of wrongdoing.
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The Titans still seem to treat life on the coast like the Brisbane Bears did back in the day. Just party time. I'm happy that our recruiting model focussed on recruiting the right types and that we had a good core group of people in charge like Bluey, Malcolm, Auld, Travis and Ashcroft who've gone about building a good culture at this club for all the young boys.
 

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fabulousphil said:
With the amount of kiwis on the GC isn't that interchangeable with a Titans fan ?
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One would think so. The love we all felt, and may still feel for K was a thing of unity. Some NRL fans, but not the majority, may not have thought of it that way, but K did bring down barriers in more than one way.

Despite him making a human mistake, we should not forget the great things he has done throughout his career....mostly for others.
 
tigernova said:
One would think so. The love we all felt, and may still feel for K was a thing of unity. Some NRL fans, but not the majority, may not have thought of it that way, but K did bring down barriers in more than one way.

Despite him making a human mistake, we should not forget the great things he has done throughout his career....mostly for others.
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i reckon Hunt is a decent bloke who has just been in the wrong spot at the wrong time.

Really should have known better though
 
The titans chairwoman says in the bully today that the titans definitely would have folded if the nrl had not stepped in and taken over. She confirmed voluntary administration was the responsible thing to do because they weren't going to survive and were about to fold. So if you believe there is a war going on then it's hard to argue the suns aren't winning. Crippling debt and about to fold vs a million dollar profit in 2014.
 
tigernova said:
Hang on....youre a warriors supporter?!
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Well, yea, pretty loosely these days. I'm more an Eagles supporter really. Joined the committee down there this year I found the place so inviting. We managed to get Cam and Jason Cloke down to the club and a few others have headed home, so looking forward to a big year hopefully.

Please look after Touk and Peter, and enjoy your castle.
 
AuckMel said:
Well, yea, pretty loosely these days. I'm more an Eagles supporter really. Joined the committee down there this year I found the place so inviting. We managed to get Cam and Jason Cloke down to the club and a few others have headed home, so looking forward to a big year hopefully.

Please look after Touk and Peter, and enjoy your castle.
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So your club wears Hawthorn guernseys?
 
tigernova said:
One would think so. The love we all felt, and may still feel for K was a thing of unity. Some NRL fans, but not the majority, may not have thought of it that way, but K did bring down barriers in more than one way.

Despite him making a human mistake, we should not forget the great things he has done throughout his career....mostly for others.
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Apart from turning down the Kiwis all those years ago for SoO, I have nothing but admiration for the guy. He went and played another sport and IMO ended out pretty good at it. Will probably will do the same at the Reds. Everyone stuffs up at some time.

tigernova said:
Best of luck with the season mate. C'mon the Eagles!
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Cheers, hopefully more than 4 wins this year LoL, although I'll be cheering on the Calder Cannons a few times this year too.
 
AuckMel said:
Apart from turning down the Kiwis all those years ago for SoO, I have nothing but admiration for the guy. He went and played another sport and IMO ended out pretty good at it. Will probably will do the same at the Reds. Everyone stuffs up at some time.



Cheers, hopefully more than 4 wins this year LoL, although I'll be cheering on the Calder Cannons a few times this year too.
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Poor bugger copped a huge whack in that Test match too I remember. He was being singled out, It was obvious. But once he recovered from getting KO'd, he didn't take a backward step, and the Kiwis were still trying to kill him. Guts. Even at 19yo(?), K had that in truckloads!
 
Hey Auckmel.

What was your 1st impression of NRL teams running out in AFL guernseys in the 9s?

Admittedly they were poorly designed, and the clubs could have made a better fist of making them look attractive. But theory seem to have a positive cooling effect (and harder to grab onto) on the teams that used them. And those teams did go pretty well I think?
 
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