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Investors funds secure Titans future

Gold Coast taken another major step towards securing the club's financial future after finalising its capital raising project with a consortium of local and interstate investors.
Investors funds secure Titans future
by NRL

Gold Coast taken another major step towards securing the club's financial future after finalising its capital raising project with a consortium of local and interstate investors.

In a strong sign of the future sustainability and profitability of the club, the consortium of new investors has fully subscribed to the capital raising offer for the Gold Coast Titans Football Club which will see the club fully recapitalised upon settlement of the transaction in the next six weeks.

Concurrently, the club has also today received a further coup with Principal Partners and front of jersey sponsor iSelect enhancing their contract with the Titans to also become the club's naming rights sponsor for the next four years until the end of 2016.

From next season, the team will be known as the iSelect Gold Coast Titans, taking over from the club's inaugural naming rights sponsors, Jetstar.

With the club's capital raise finalised, the Jetstar Titans will now immediately enact the formation of an Independent Board of Directors for the Football Club which has been a long term objective of the club for some years.

The Board will be administered by an Independent Chairman and will be filled with both community and business leaders.

The consortium of investors, who at this stage would like to maintain their privacy until the Board is formed in the next 14 days, have indicated their ongoing commitment to the club's vision of award-winning community work, including meaningful and outcome driven indigenous programs, and game development at grass roots level.

The Jetstar Titans will continue to operate from the recently-sold Centre of Excellence with a long-term lease in place.

Jetstar Titans Managing Director Michael Searle thanked both the Australian Rugby League Commission (ARLC) and the club's supporters - specifically sponsors, members and corporate partners - for their ongoing support during this difficult time.

The club would also like to acknowledge the incredible support of the club's suppliers who have worked with the cub throughout the capital raising process.

"This has been a difficult time for everyone but I'm very pleased that we now have a situation where the club and other stakeholders can all move forward with certainty,'' said Searle.

"The procurement of the additional investment is a great result for the future of our Club.

"Importantly out of all of this, the Titans will remain the Titans, the team will continue to call the Centre of Excellence home and the club can continue to remain an important asset for the Gold Coast community.

"The club will continue to focus on providing ongoing inspirational opportunities for Gold Coast children - whether they be emerging footballers, young members of our cheer squad, young employees at the stadium or other young entertainers playing at the games. The Gold Coast Titans are about a future for the entire City."

iSelect CEO Matt McCann commented: "This is a great day for the Gold Coast community and for us as a major supporter of the club. We always had confidence in Michael and his administration, and we're delighted that the club can now move on. We look forward to winning a premiership in the future as the iSelect Gold Coast Titans."




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