The Brisbane Times is reporting today that Salford Red Devils owner, Marwan Koukash, "has emerged as a prospective owner of the Gold Coast after becoming the latest player to bid for the Titans".
The Gold Coast Titans play in the Australian National Rugby League and, apparently, must be sold by October 31st. The paper reveals that Koukash is the 'mystery moneyman' in the running to buy the club. It describes Koukash as a 'British billionaire', "whose net worth is estimated at $3 billion".
Latest accounts for Salford City Reds (2103) Ltd, reported in February this year, showed losses of £1,347,508, with net liabilities of £8,218,502, up by well over £1million from the year before. Koukash also owes Salford City Council £1,038,000 according to the latest Council accounts (see here).
Last month, Koukash said he was standing aside from Salford Red Devils... "I have now instructed my legal team, subject to RFL approval, to establish a trust to take ownership of the club for the benefit of the fans and the local community of Salford" he said (see here).
The Salford Star has been in contact with the RFL to see whether it has actually approved the plans, and what the plans actually are. We also asked where the legal ownership of the club would rest – totally with the Trust or will Marwan Koukash still own the holding company?
"We are still waiting for full submissions" the RFL responded "Once in, the Rugby Football League Board will then consider."
When Fairfax Media, which owns the Brisbane Times, contacted Koukash for a comment on the Gold Coast Titans, he declined
Meanwhile a Salford Red Devils supporters trust is currently being formed – more details on this to follow...
Update: 14th October: Koukash has now come out on Twitter and stated 'I have not made bids for any club. My priority is helping the Salford Devils Trustees...'
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