Analysis Single Malt GC Sporting Updates (TITANS NEWZ)

[GC2015]

Do we have another Michael Searle on our hands? Apparently one of the front runners to become the new owner of the Titans came out and said he plans to "crush the AFL" if he gains ownership. I hope the NRL are smart enough to not hire another Searle type who seems to live on the mantra of beating the AFL = success.

I'm really interested to hear Mr Bods thoughts on this.

 

[Mini GF]

Do we have another Michael Searle on our hands? Apparently one of the front runners to become the new owner of the Titans came out and said he plans to "crush the AFL" if he gains ownership. I hope the NRL are smart enough to not hire another Searle type who seems to live on the mantra of beating the AFL = success.

I'm really interested to hear Mr Bods thoughts on this.

Yeah it didn’t go down that well on the Titans forum actually those comments, they guy has been pretty well received up until those chest beating comments.

But yeah this guy McAullife I gather has much more money than Kelly/Frizelle and in his favour is he is a genuine GC and NRL supporter. He thinks outside the square and is obviously very successful.

In the end though the sentiment and support remains with Kelly/Frizelle and I remain confident they will get the nod.

 

[SunsBhoy]

Yeah it didn’t go down that well on the Titans forum actually those comments, they guy has been pretty well received up until those chest beating comments.

But yeah this guy McAullife I gather has much more money than Kelly/Frizelle and in his favour is he is a genuine GC and NRL supporter. He thinks outside the square and is obviously very successful.

In the end though the sentiment and support remains with Kelly/Frizelle and I remain confident they will get the nod.

Searle really created a divide between the codes which is softening somewhat now , would be a calamity to have someone like that there again as there would be quite a few supporters who are members of both and by striking a divide could lose members .


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[Mini GF]

Searle really created a divide between the codes which is softening somewhat now , would be a calamity to have someone like that there again as there would be quite a few supporters who are members of both and by striking a divide could lose members .


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Couldn’t agree more. We need to be team GC. The success of both teams will then encourage us to have Soccer, Basketball and BBL national teams.

 

[GcSunsfan]

Do we have another Michael Searle on our hands? Apparently one of the front runners to become the new owner of the Titans came out and said he plans to "crush the AFL" if he gains ownership. I hope the NRL are smart enough to not hire another Searle type who seems to live on the mantra of beating the AFL = success.

I'm really interested to hear Mr Bods thoughts on this.

I'd say old mate can kiss his dreams of buying the Titans goodbye although some of the dodgy people at NRL hq might have some things in common with this flog.

http://www.couriermail.com.au/sport...s/news-story/7ca4d139355efbc1b4e8e5b3650b86ab

Stuart McAuliffe’s Gold Coast Titans takeover bid under threat over tax lawsuit revelations

THE battle for the Titans’ NRL licence has taken a dramatic twist following explosive revelations prospective owner Stuart McAuliffe was sued by the Australian Taxation Office for more than $670,000.

D-Day has arrived in the Gold Coast ownership saga, with the rival McAuliffe and Frizelle-Kelly consortiums to go head-to-head in final submissions to NRL bosses at Rugby League Central in Sydney today.

The Courier-Mail can reveal McAuliffe, a Brisbane fund manager who names his companies after famous pirates, will table the richest privatisation bid in NRL history — a $25 million plan to take over the Titans.

But McAuliffe is facing a grilling from NRL powerbrokers over his financial affairs as it emerged the ATO has launched legal action against the 47-year-old twice in the past 18 months.

The latest lawsuit for $176,000 was lodged in Brisbane’s District Court on August 28 after an initial claim of $672,000 last year.

Stuart McAuliffe is an associate professor at Bond University.
McAuliffe last night said he had settled the first debt and would front NRL bosses today owing an estimated $97,000 to the ATO.

“I’ve paid back the first amount of $672,000 in full,” McAuliffe said.

“With the second one, I’ve paid back $80,000, so we are now disputing the remaining amount, which is around $97,000.

“Given the scale of my companies, it’s a small amount.

“From my point of view, this is a fairly minor dispute.

“I’m comfortable with my position.”

The tax saga comes four months after a second government authority — the Australian Securities and Investments Commission — took aim at investment company Henry Morgan, where McAuliffe is managing director.

The watchdog suggested the company had given a “misleading” statement to shareholders by saying one of the financial services firms it invested in had a turnover of “$96 million” when others claimed the figure was $10.75 million.

Rebecca Frizelle and Darryl Kelly head a rival bid to buy the Titans. Picture: Luke Marsden.
Shares in Henry Morgan have been suspended at $1.99 since June 8 while an independent expert reviews the value of some assets.

McAuliffe dismissed concerns over ASIC’s comments and insisted he would not be a risk for the NRL or the Titans, saying his stable of public companies was worth about $150 million.

“We never had a dispute with ASIC, it has been completely cleared up,” said McAuliffe, whose company, John Bridgeman, is formally bidding for the Titans licence.

“We’ve just had audited results come out for Henry Morgan last week and the auditors agreed with our valuation (of $96 million).

“I have 11 public companies, some listed, some unlisted, so I said to the NRL if you want to do ‘DD’ (due diligence) on me, the best thing is talk to the auditor, who is an independent third party.

“It’s my understanding the NRL did that.”

An NRL spokesman said last night the governing body was conducting detailed checks on bidders to ensure they would be appropriate to own the club.

The sale of the Titans is expected to be announced within the week.

McAuliffe’s rival, former club co-owner Darryl Kelly, is vowing to fight hard to reclaim the Gold Coast licence.

“I believe our proposal is sustainable, good for the community and good for the Titans,” said Kelly, who lost $5 million during his first foray into the Titans in 2012.

“We hope the NRL commissioners trust us as they have for the last three years or so to continue to run the club and progress it as we have done.

“It will continue to lose money for a while until we develop an alternate income stream, which will take us a little while.

“We will have to carry those losses.”

McAuliffe, who has been working on his bid for two years, dismissed suggestions the Titans, who have lost $12 million in the past four seasons, cannot be salvaged in the region.

“I believe the Titans can deliver annual profits of around $2 million to $3 million,” he said.

“Most of the things I have done financially, people have said it was the dumbest idea in the world, but quite frequently I am right.

“I go in when conditions are adverse and in this case conditions are very adverse at the Titans.

“But by the same token it’s at rock bottom, so the Titans are on the way up and I want to help the club succeed.

“If I miss this opportunity, who knows how long it will take to get another NRL licence.”

The ATO sued McAuliffe in May last year in Brisbane’s District Court for $672,214.44.

The alleged debt included almost $327,000 in unpaid income tax and interest between 2008 and 2014, according to court documents.

The remainder related to taxes with business activity statements and penalties.

McAuliffe did not file a defence in the matter.

The taxman was back in August this year with a fresh case against McAuliffe in the same court.

The amount it alleged was owed was $176,927.07, and this included some debts from the original lawsuit. The lawsuit indicated large sums of the earlier debt had been repaid.

McAuliffe has also not filed a defence in this matter.

 

[Mini GF]

Hayne finally gone and like GAJ will forever be despised on the GC.
The similarities in events and histories of our two clubs is remarkable.

Both this off season have seen the marquee leave, a clean out off field, a change in direction toward concentration on local products and a new young untried Coach that has the players reportedly up and about.

 

[Scotty_222]

What a piece of shit though,held them to ransom. Most of the wider nrl spectators see through his bullshit and this will be s stain on his illustrious career

 

[SunsBhoy]

Bods is this a great day for titans or a good day.


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[Mini GF]

Bods is this a great day for titans or a good day.


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This is worthy of a Bistro Meal At Vikings and a few Beers with Mrs Bods tonight.
It’s a great day-I am so happy.

Both Clubs at least have some clear air now.

 

[2010premier]

This is worthy of a Bistro Meal At Vikings and a few Beers with Mrs Bods tonight.
It’s a great day-I am so happy.

Both Clubs at least have some clear air now.

Yep agreed Ablett and Hayne both seen as the solution but actually both part of the problem. But when both at their best definitely great to watch and no doubt GAJ delivered more than Hayne in that regard.

 

[Matchu]

Hayne finally gone...

And now already an Eel. He didn't waste any time packing his bags.

The Gold Coast News described him as "a marquee that spectacularly failed" today.

 

[krisholio14]

The Suns will get it right soon enough. The AFL has enough money to stay the course until the region has developed into a full blown metropolis, and by that stage the team will have had a presence for long enough to become a mainstay.

 

[supernova_]

The Suns will get it right soon enough. The AFL has enough money to stay the course until the region has developed into a full blown metropolis, and by that stage the team will have had a presence for long enough to become a mainstay.

Where do you live? You do know Gold Coast has 3 times the population of Geelong?

 

[krisholio14]

Where do you live? You do know Gold Coast has 3 times the population of Geelong?

I had no idea

Gold Coast may have experienced a big surge in permanent population, but georgraphically the region has still not fully emerged from being the series of holiday/surf towns it was when the Bears and Giants/Seagulls/Gladiators were in the area.

That's the main reason sports teams struggle there. The region has not become a fully cohesive metropolis yet, and every failed team hasn't had the money to keep things going in an environment where a collective Gold Coast identity has not developed sufficently.

I also think that's the number one aspect people fail to consider when bagging out the AFL for putting a team there, and point to the failure of several pro teams across many sports to remain in the area as an example of why it's a waste of money etc. It may take another 10 or 20 years, but once the area gels as a cohesive metropolitan area and not just a region people live or take holidays in, the Suns will be a fixture there for as long as the game is played.

 

[____]

Gold coast very much is a city now, hence all that money on trams and the fact traffic is a ****ing nightmare

 

[thegreig]

Are there any plans to upgrade the stadium in anyway once the games are done? Or is it basically reverting back to what it was

 

[Mini GF]

Gold coast very much is a city now, hence all that money on trams and the fact traffic is a ******* nightmare

The M1 is a disgrace

 

[Iva Bigun]

The M1 is a disgrace

This country needs to wake up to fast rail, put one in between GC- Brisbane- North lakes and watch the M1 clear up, same for
Newcastle- Sydney- Wollongong
Geelong-Melbourne- Frankston

But instead we will build more roads for more cars with one person in them losing their ****ing mind at how bad the traffic is

 

[____]

The M1 is a disgrace

Lots of shocking roads on the Gold Coast that isn't the M1

 

[supernova_]

I had no idea

Gold Coast may have experienced a big surge in permanent population, but georgraphically the region has still not fully emerged from being the series of holiday/surf towns it was when the Bears and Giants/Seagulls/Gladiators were in the area.

That's the main reason sports teams struggle there. The region has not become a fully cohesive metropolis yet, and every failed team hasn't had the money to keep things going in an environment where a collective Gold Coast identity has not developed sufficently.

I also think that's the number one aspect people fail to consider when bagging out the AFL for putting a team there, and point to the failure of several pro teams across many sports to remain in the area as an example of why it's a waste of money etc. It may take another 10 or 20 years, but once the area gels as a cohesive metropolitan area and not just a region people live or take holidays in, the Suns will be a fixture there for as long as the game is played.

Couple of good points but I think new teams genuinely need a generation to take hold of their territory. The likes of Port, Freo, Eagles are well entrenched in their 2nd and almost 3rd generations in their communities. The city here was always a city for quite a long time.

 

[krisholio14]

Couple of good points but I think new teams genuinely need a generation to take hold of their territory. The likes of Port, Freo, Eagles are well entrenched in their 2nd and almost 3rd generations in their communities. The city here was always a city for quite a long time.

Well yes there is always an establishment period when a new team arrives, especially one that has been started without some kind of bidding process.

I guess what I'm saying ultimately is the Gold Coast as a city is still developing an identity, and therefore it is hard for a new team also looking to forge its identity to get a foothold in that situation without being able to hang in for the long haul. The Suns are in a position to do that and will unless the AFL get cold feet.

 

[Mini GF]

Well yes there is always an establishment period when a new team arrives, especially one that has been started without some kind of bidding process.

I guess what I'm saying ultimately is the Gold Coast as a city is still developing an identity, and therefore it is hard for a new team also looking to forge its identity to get a foothold in that situation without being able to hang in for the long haul. The Suns are in a position to do that and will unless the AFL get cold feet.

I like your posts man. I agree with your read about the uniqueness of our little City.
If you are a local then hop aboard and join the little Suns Army.

 

[SunsBhoy]

Well yes there is always an establishment period when a new team arrives, especially one that has been started without some kind of bidding process.

I guess what I'm saying ultimately is the Gold Coast as a city is still developing an identity, and therefore it is hard for a new team also looking to forge its identity to get a foothold in that situation without being able to hang in for the long haul. The Suns are in a position to do that and will unless the AFL get cold feet.

Problem is none of the teams the on Coast had any success so really hard to gauge how success translates to team support on coast yet.


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[Mini GF]

Problem is none of the teams the on Coast had any success so really hard to gauge how success translates to team support on coast yet.


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2009-10 when the Titans were up and about their home games was the place to be at.
Great crowds, great atmosphere.

 

[Iva Bigun]

Problem is none of the teams the on Coast had any success so really hard to gauge how success translates to team support on coast yet.


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I think this is a really interesting point. If the Suns can become an exciting team that plays finals or perhaps even wins a flag the ground swell of support from not only southern state expats but a proud local community could see the Suns become a very successful entity in a short period of time.

People crave success and especially in smaller communities, as it is a vindication of where they live.