30 Mar 2012

Embattled Titans to restructure

12:37 pm on 30 March 2012

The resignation of Gold Coast league chairman Paul Broughton has hastened a management restructure the Titans hope will save the debt-ridden NRL club from financial ruin.

Broughton, who along with chief executive Michael Searle helped set up the Titans franchise, is the first victim of Gold Coast's financial troubles which have resulted in reported debts of $25 million.

The Titans used Broughton's resignation to issue a statement indicating their intention to overhaul their management structure, which doesn't even claim a board at present.

An ARL Commission official has said the league would continue to monitor developments at the club, with a decision on a possible bailout to be made possibly by the end of the week.