The Courier Mail reports duo Rebecca Frizelle and Darryl Kelly have won the bid for the Gold Coast licence.

The consortium reportedly staved off a $25 million bid from Brisbane-based fund manager Stuart McAuliffe.

NRL lawyers are analysing the ownership model with the sale expected to be confirmed tomorrow.

The bid included $15 million up-front with a further $10 million to go to grassroots.

This is likely the last role of the dice for an NRL-club to be based in the region after the failures of the Gold Coast Giants in 1988, followed by the demise of the Seagulls and Chargers.

The NRL took over the Titans licence after the club went bust in 2014 which saw Kelly lose $5 million through prior attempts to help the club out of financial crisis.   

The duo are believed to have a personal combined wealth of more than $100 million.

More to come.