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News: NRL allows Titans advance on 2009 grant

Discussion in 'Rugby League Forum' started by Zep, Feb 28, 2009.

  1. Zep

    Zep Active Member

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    The NRL has advanced competition newcomers Gold Coast $2 million to help the Titans cover a recent financial shortfall.

    The global economic crisis that is threatening the liquidity of several Sydney clubs hit the Titans late last year, when the club's bank withheld $4 million from a promised loan to fund a development to Skilled Stadium. 

    Gold Coast needed the money to complete a $30 million "Titansworld" Centre of Excellence.

    The bank had initially promised to contribute $18 million toward the venture, but changed its lending policy because of the financial crisis. 


    <a href="http://www.silvertails.net/news/General-NRL/nrl-allows-gold-coast-titans-advance-on-2009-season-grant.html">Read the full article</a>
     

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