The National Rugby League has today taken control of the Gold Coast Titans Rugby League football club in a move NRL CEO Dave Smith believes will secure the future of the club.

Mr Smith said the club’s serious financial issues had resulted in the termination of the club’s license and the NRL would take over the running of the club. The Titans have been placed into involuntary administration by the Directors and is unable to meet its’ financial obligations such as staff and player salaries.

Mr Smith was quick to reassure fans that the move did not spell the end for the Titans.

“The only difference for Titans fans is that they will have the security of knowing their team has a long-term future on the Gold Coast,” he told nrl.com.

“This is an important region for Rugby League and the Titans remain part of our long-term plans for the game.This move will give the club a fresh start with the certainty that the players, staff and fans want.”

“In very difficult circumstances the Board has made a great contribution and we look forward to continuing to work with them to stabilise the club.”

“There are some issues ahead of us but we are determined to make this a strong, viable club.We have already made good headway at the Newcastle Knights and, with a strong Board and management team, the same can be achieved for players, staff and fans of the Gold Coast Titans.

“The NRL will consider longer term ownership options at an appropriate future point, but, for now, our priority is stabilising the club.”

The Titans are still without a major sponsor with their first match of 2015 against the Wests Tigers at CBus Super Stadium just 11 days away.