Sydney: Australia’s National Rugby League on Tuesday took control of the struggling Gold Coast Titans as the club reels from cocaine allegations against five players and mounting financial worries.

NRL chief executive Dave Smith said the club’s licence had been terminated in consultation with major stakeholders and the Titans placed into voluntary administration, with the sport’s ruling body taking over its running.

Smith assured Titans fans that the club, which has no major sponsor and no training venue, would remain on the Gold Coast and it would be business as usual for the team.

“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 said in a statement, adding that the Titans board would remain in place.

“This is an important region for rugby league and the Titans remain part of our long-term plans for the game.”

The club was already facing serious financial difficulties when it became engulfed in a cocaine trafficking scandal over the weekend.

Five Titans players, including Australian internationals Greg Bird and Dave Taylor, have been implicated and are due to face court next month.

Queensland Reds Super Rugby star Karmichael Hunt was also charged in the case.

Gold Coast Titans coach Neil Henry on Monday said the five players, the others being hooker Beau Falloon, outside back Kalifa Faifai Loa and fringe first-grader Jamie Dowling, will face the board in the next few weeks to argue why they should not be sacked.

Regardless of the outcome of those meetings or the legal situation, the Titans said none of the implicated players will feature in the club’s opening NRL match against the Wests Tigers on March 7.