The NRL has taken over ownership of the gold coast Titans in the wake of the cocaine supply scandal engulfing the club.
NRL chief executive Dave Smith, speaking at a press conference on the Gold Coast on Tuesday, stressed the game’s governing body has a commitment to the region, with the move designed to ensure the long-term future of the club.
“The NRL has taken control of the club,” Smith said.
“This is a really, really important day for the Titans, more importantly, for the fans of the Titans and fans in the Gold Coast.
“This demonstrates a real, long-term commitment to the Gold Coast and to the Titans.
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“We will solve these problems, it’s not the end of the world. We will fix these and build a club that is not only competitive, but a club to be proud of.”
The NRL said in a statement the club has been placed in voluntary administration by the directors after conceding it could no longer continue to meet its financial obligations, including staff and player salaries.
This club is here for the long term on the Gold Coast … and it’s onward and upward from here.
The NRL intervened in a similar manner in 2014 to rescue the Newcastle Knights from financial crisis.
Despite the Titans handing over their licence to the NRL, the…
