GC17 bid team leader John Witheriff said the criteria set out by the AFL had not only been fulfilled but exceeded, and AFL CEO Andrew Demetriou said the commission had been impressed with the submission.
The bid document, which ran to more than 400 pages, now will be reviewed by the commission.
"The commission will test, analyse and validate the GC17 submission and business models and will be doing that over the coming weeks," Demetriou said.
GC17 was given six months to sign up 20,000 would-be members and 110 business sponsors as well as a major naming rights sponsor.
"We got 43,000 (members) in the end," said Witheriff, who confirmed a total 124 business had committed to the club.
"That is what gives me the greatest level of comfort because I thought that was going to be our toughest challenge, but it turned out that, not only did we hit the 20,000, but we hit the 40,000 and we continue to grow."
A nationally known company has signed up for the club's naming rights.
Demetriou said it was clear that GC17 had done an enormous amount of work to build strong community and business support for an AFL team.
"John was very passionate about how the Gold Coast community would provide the foundations for a strong and successful AFL club but was equally passionate about how an AFL team would return significant economic and social – as well as sporting – benefits to the Gold Coast community through increased jobs, greater economic and tourist activity and greater opportunities for local families."
Witheriff said the submission had been well received by the commission.
"We walked through the strategy, our case basically, and told them why they should invest tens of millions of dollars in our new team," he said.
"It was exceptionally well received, but they've got to do their homework now and work out whether out assumptions are valid or otherwise.
"But we're pretty confident about that.
"We'll be on the edge of our seats for the next couple of weeks."
GC 17 also announced on Monday it had signed two more young Queenslanders to its playing list in Nick Price and Joseph Daye .
The promising duo joins five other Queenslanders including Jesse Haberfield, Jack Stanlake, Jack Stanley, Zac Smith and Charlie Dixon as players to have committed to the inaugural team.
GC 17 has access to pre-sign up to 20 Queensland players of eligible drafting age in 2009 and 2010. The players will then be part of the development side that will play in the TAC Cup next year and the VFL in 2010.
The team will play in the AFL from 2011 if the licence application is successful.
