Expansion Another Gold Coast team in peril, potential good news for the Suns?

[kane249]

http://www.theaustralian.com.au/spo...facing-scrapheap/story-fnca0von-1226306611547

With the Titans in financial trouble and Clive Palmer losing the plot and causing Gold Coast United to have an uncertain future have the Suns come about at just the right time to capitalise?

 

[1873 United]

I think it's a sign of the times, rather than good luck. I keep reading that the gold coast is doomed for national sporting teams, I just hope the suns can last the distance.

If the suns are still solid in 5-10 years, it's fair to say that they've made the hard yards.

 

[kane249]

I think it's a sign of the times, rather than good luck. I keep reading that the gold coast is doomed for national sporting teams, I just hope the suns can last the distance.

If the suns are still solid in 5-10 years, it's fair to say that they've made the hard yards.

Which is the worrying factor, Gold Coast has been a bit of a graveyard for sporting teams across all sports. As you said hopefully the Suns can buck the trend.

 

[Underarm]

Suns will be different. Afl will prop it up for longer/ever. Nrl and a league have less accountability in their set ups.

 

[Lord_Flashheart]

I don't like the idea of clubs falling down, either by financial issues or having a megalomaniacal investor pulling the strings. However don't expect a mass exodus to the Suns just because they can't follow their preferred code. i wouldn't follow the titans if the Suns fell over. I wonder if the license would have been harder to obtain if it were to be proposed today (after this news broke)

 

[jd1991]

My understanding is that the Titans themselves are financially ok - buts its there investment in a $30 million High performance centre that is dragging them down.

If they didnt do that - they would be financially fine.

So to me its not that the Titans are unsustainable, its that they are been dragged down by an over ambitious centre.

The major difference between the Suns and Titans is that the Titans are also beholden to Queensland Stadium company, whilst the Suns ground is controlled by the Suns. This is due to the AFL stumping up the money for some of the cost and also lending some money to Queensland for there portion.

 

[UrLordUnbeliever]

It's a tough predicament the Titans are in, that's for sure..
Part of the report I read said Searle said "they got a profit on the Storm game" and TBH I feel like calling bulls**t on that because there were only 11K people at the game.

Hypothetically if the Titans were to fold, it may work out in the Suns' favour as they'd be the only decent option for fans of live sport in the area..
Their media presence on the GC would also be hightened as there wouldn't be any other local sport teams in a high-profile competition to compete for space with..

But I believe the Suns will be successful without that outcome, and as a follower of both sports would like to see both the Suns and Titans both become fully self-sufficient and recieve plenty of support from the community.

 

[Rally]

Unlike the NRL, the AFL have the money to keep it sustained. They will keep propping them up for the next decade if that's what it takes, whereas the NRL doesn't have that luxury.

 

[Smokin]

My understanding is that the Titans themselves are financially ok

whilst that is absolutely impossible to know without going through their books, it would extremely rare that they weren't losing a stack as a sporting club.

There would no doubt be debts carried by this building for the rugby club, it is the only thing that guy can save his credibility with right now. Hasnt this guy already been exposed for cooking the books in relation to their crowds? Always just over 10K it seems.

As of last season, I found out 2 NRL teams made a profit - the titans have apparently the worst stadium deal in Australian sport, get poor crowds and dwindling, have an arm which is basically insolvent and no leagues club out the back - and you honestly believe they are financially ok?

But, who cares. This is where the AFL is just on a total other level to anybody else in this country. The time, effort, resources and management put in place with expansion is probably 100x that of it's nearest competitor.

The AFL has claimed the suns made a profit last season - all due to a fantastic stadium deal.

The AFL know what they are doing, no matter which way you slice it up.

 

[Luc]

Part of the report I read said Searle said "they got a profit on the Storm game" and TBH I feel like calling bulls**t on that because there were only 11K people at the game.

No. It said they met their budget for those games and project to earn a million for the season. It's probable that they had penciled in both these games to lose, say, $20000 each and the crowd figures were around their preseason estimates.

 

[BigBroMike]

Gold Coast teams in all sports never do well whether it be soccer, basketball, rugby, and I'm guessing AFL. Apparently more younger people are starting to come to Gold Coast since there are starting to get more businesses and job opportunities. That would help crowds. Atm though most of Gold Coast are just tourists and old people that live there for retirement.

 

[The_Wookie]

both news and fairfax reporting that the Titans are in at least 25 million debt - and the nrl is apparently believing its all aspects of operations involved. Not good.

http://www.smh.com.au/rugby-league/...tanic-25m-auditors-reveal-20120322-1vmyx.html
http://www.couriermail.com.au/sport...ut-to-35-million/story-e6frep5x-1226307634235

Speculation in the couriermail that they'll dump the titans and start again.
http://www.couriermail.com.au/sport...facing-scrapheap/story-e6frep5o-1226306858093

This is not good news for anyone involved. And shouldnt havem any bearing, positive or negative on the Suns.

That centre for excellence would make a nice place to base a qld academy out of though.....only 12m

 

[Scotland]

Bring back the Gold Coast Rollers I say.

 

[Funkalicous]

The AFL has claimed the suns made a profit last season - all due to a fantastic stadium deal.

That's because a premium membership cost $550. - The highest in the league by a mile. It's a terrible deal if you're a fan!

 

[finders]

It will be pretty hard for the Titans to survive seeing that the last estimate of debt according to Gallop is $35 million.

The Suns will survive as there are tens of thousands of expat victorians living on the coast that love their footy plus the AFL are going to push them very hard.

 

[Funkalicous]

Atm though most of Gold Coast are just tourists and old people that live there for retirement.

Most?! As in more than 50%? That's absolute bullshit!

 

[Smokin]

That's because a premium membership cost $550. - The highest in the league by a mile. It's a terrible deal if you're a fan!

what does that get you? It doesn't really matter, obviously somebody has paid for it, and the stadium deal is the real clincher nothing else.

On the titans - it was laughable anybody would believe the rugby club was profitable, just looking at their crowds, exposed stadium deal and the fact hardly any NRL club makes money at all.

What is laughable is this mob looks insolvent, the NRL watching their every move, and apparently they made a near $3 million offer for Cooper Cronk, and signed some other bloke for $1.8 million.

Interesting predicament the NRL is in, the more you look at it. Only really one strong club which can stand on its own two feet, and the NRL itself is hardly flush with cash itself. I understand it is not going anywhere, but from the outside looking in they hardly look like they have their ducks in a row.

Their players have now grouped together to push for a % of revenue (like AFL) - if this mob doesnt get a monster TV deal, it will be very interesting days up there.

 

[Smokin]

It will be pretty hard for the Titans to survive seeing that the last estimate of debt according to Gallop is $35 million.

The Suns will survive as there are tens of thousands of expat victorians living on the coast that love their footy plus the AFL are going to push them very hard.

And the AFL full gets 'it' - to put an expansion team in a non traditional market, you really have to be prepared to give on generation - the minimum for half a chance of making it. That is about 30 odd years. Let the kids being born today and tomorrow become adults, growing up the Suns brand.

the NRL just doesnt have the funds to do this, which is why teams are on a hiding to nothing if they cant get money from other non football sources, such as a pokies club or otherwise.

 

[legend166]

Every time I hear [insert sports club] and 'property development' it always ends in bad news.

Stick to sports.

 

[Sunny_]

Suns made a profit last year not because of the (rather pricey) memberships, but because of the Foo Fighters concert they held at Metricon last year.

Apparently the revenue generated from that concert eclipsed the amount generated from memberships by far. Since the Suns have rights to the ground, they get a large portion of it. Or such is my understanding of the setup.

So if the Suns can have a concert or two at Metricon every year, they should be able to generate some sort of profit. Well, hopefully, anyway. Even more as memberships start to rise as the team becomes more successful.

 

[JRoo]

Make that $35 million in debt!!!

http://www.foxsports.com.au/league/...-on-cooper-cronk/story-fn2mcuj6-1226307859670

Auditors reveal $35 million worth of debt at Gold Coast Titans as club circles on Cooper Cronk

• By Phil Rothfield, Andrew Webster, Peter Badel
• The Daily Telegraph
• March 23, 2012 7:52AM

• Share

Hot property ... Cronk may be headed for the financially embattled Titans. Source: Phil Hillyard / News Limited


Gold Coast Titans' crippled financial state descended further into the abyss on Thursday after a team of NRL accountants unearthed millions of dollars of hidden debt in the embattled football club.

While Titans boss Michael Searle has long been adamant the club's difficulties are confined to the its property arm and its Centre of Excellence, NRL chief executive David Gallop said an audit this week had shown all aspects of the business were under "considerable financial stress" with the total debt estimated at $35 million.

​

It comes amid an increasing belief that Storm halfback Cooper Cronk has already signed a three-year deal with the Titans, despite deep concerns about the club's future.

 

[bradrowe#32]

That centre for excellence would make a nice place to base a qld academy out of though.....only 12m

That was my first thought. AFL might be able to buy it cheap and set up a QLD academy. That would really sting the NRL.

 

[Hoops]

If the Titans do fold I doubt it would make much difference in terms of support for the Suns, but with regards to sponsorship it might help. But then again they might just see sport on the GC as a liability and not want to invest.

But after the arrogant Searle had to say about the Suns earlier on I hope it fails

http://www.theaustralian.com.au/afl-needs-gold-mine/story-e6frepf6-1111116410470

http://www.goldcoast.com.au/article/2008/04/09/9869_gold-coast-sport.html

http://www.couriermail.com.au/sport/nrl/titans-boss-slams-the-afl/story-e6frep7o-1111115652140

http://www.smh.com.au/news/league/titanic-turf-war-on-cards-as-gold-coast-cry-foul-over-afl/2006/07/20/1153166522030.html

 

[chiwigi]

The only reason the titans will fold is to avoid their financial obligations. There will still be a league team there.

 

[Heafy83]

Once the AUD comes down again to its normal 70-80c range, the tourists will flock back and things will be thriving again on the GC.
The town lives and breathes tourism so as soon as that picks up again people will flood back to the GC.
The tourists obviously wont go to the games but all the young people the industry hires certainly will.