LOL @ Titans thread v.2012

Dexter said:
A few ppl keep saying they are getting handouts but I'm not sure that's accurate. I know they have received advances on the club grant for cash flow purposes but handouts imply money given which doesn't need to be repaid. Can anyone give a link which confirms handouts?


As far as Cronk getting $800k don't forget the new TV deal which will significantly increase the cap and any deal would more than likely be backended so the bulk will be paid when other well payed names have left.
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Correct, but they keep getting advances on their grants. And keep asking for more advances on their grants. Either way it irks the other clubs who manage to plan their cashflow so they can pay their bills - many in worse revenue positions than the Titans.
 
Searle is allegedly up to his eyeballs in this personally, having invested heavily with his own money. His own financial situation is not good.
 
**** happens. We've all made bad calls with money before, his was just a lot bigger, and well, dumber.
 
Coxy said:
Correct, but they keep getting advances on their grants. And keep asking for more advances on their grants. Either way it irks the other clubs who manage to plan their cashflow so they can pay their bills - many in worse revenue positions than the Titans.
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Yep I understand and agree why clubs get annoyed, just wanted to clear that up for myself more than anything.
 
Titans managing director Michael Searle has been siphoning almost $3 million out of the embattled NRL club every year to pay rent and bank interest on the team's Centre of Excellence.

Not even retiring chairman Paul Broughton was aware of the transactions that property experts insist are worth only $1 million a year on the true rental market.

http://www.dailytelegraph.com.au/sp...thouse-to-cellar/story-e6frexnr-1226311831859

If this is true, Searle could be heading to jail.
 
Kaz said:
Titans managing director Michael Searle has been siphoning almost $3 million out of the embattled NRL club every year to pay rent and bank interest on the team's Centre of Excellence.

Not even retiring chairman Paul Broughton was aware of the transactions that property experts insist are worth only $1 million a year on the true rental market.

http://www.dailytelegraph.com.au/sp...thouse-to-cellar/story-e6frexnr-1226311831859

If this is true, Searle could be heading to jail.
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Oh man this just goes from bad to worse doesn't it !!

I really hope they sort this mess out quickly .... and get rid of Searle altogether.

He's a bad dude.
 
Tight budget means Bird, Lawton and Minichiello will have a slightly cheaper CAT scan than usual.

here-is-my-literal-cat-scan-28422-1276307893-15.jpg
 
Sale of Centre of Excellence eases Titans troubles

The Gold Coast Titans' financial turmoil is set to ease with news that they have sold the troubled Centre of Excellence next to Skilled Park.

The Titans' beleaguered property arm has been attempting to off-load the facility in an effort to save the club, which has been besieged by debts of at least $25 million.

The buyer is Handling Solutions, who are the second biggest financier of the Titans other than the Commonwealth Bank.

The directors of Handling Solutions are Phil Ward and Robert Clark, the uncle and father of the Titans' football manager Scott Clark.


http://www.smh.com.au/rugby-league/...nce-eases-titans-troubles-20120404-1wcg5.html​

​
 
Will be interesting to see what their going to do next...
 
LOLZ@MANLY LOLZ@MANLY LOLZ@MANLY

I love it when Manly lose. Even to the titans.
 
How good was Prince last night? If he can do that week-in-week-out the Titans won't finish with the spoon two year in a row.
 
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