THE AFL Commission has held fire on granting Gold Coast the competition's 17th licence, despite stressing the franchise had satisfied all of the criteria set in April.
Emerging from its meeting in Sydney, chairman Mike Fitzpatrick revealed the current global financial situation had encouraged the Commission's "prudent" approach to growing the game in south-east Queensland – even though the League is "in the strongest state we've ever been".
It means a decision on Gold Coast's admission to the AFL will not be made until December's Commission meeting.
Bid team leader John Witheriff made GC17's final submission to the League last month, and AFL chief executive Andrew Demetriou said from the outset that he was impressed with it.
The franchise was given six months to sign up 20,000 would-be members and 110 business sponsors, plus a naming rights sponsor.
Witheriff revealed that 43,000 members and 124 businesses had committed to the club.
"The AFL Commission is pleased to confirm that GC17 has met the criteria established by the AFL Commission in April this year," Fitzpatrick said in a statement.
"We commend the enormous effort of GC17, under the leadership of chairman John Witheriff and his board as they have done everything required by the Commission including amassing more than 42,000 supporters, gaining the backing of 111 businesses, establishing a community engagement strategy, building business plans and beginning the foundations of a strong and successful club on the Gold Coast.
"It is clear the Gold Coast community has thrown its support behind GC17. It is also clear that GC17 has undertaken the due diligence required of it.
"This is a generational decision for Australian football and the AFL Commission is committed to making prudent financial decisions based on a complete and proper process and a clear understanding of the current economic situation.
"The Commission did not make a final decision today about the licence but has instead asked the AFL executive to clarify several matters from today’s discussion and provide a further analysis and financial modelling of the impact of the new club on the existing competition.
"The Commission will not make a final decision until that process is complete and it has considered and evaluated the reports.
"It is disappointing but it's been a long process [and], as you can see, we're gradually knocking off the milestones."
However, an agreement has been reached between the Queensland Government and the AFL to allow Gold Coast to play at a stadium in its area rather than be restricted to the Gabba in Brisbane.
The existing deal, which expires in 2016, dictates that the state's second AFL team must stage half of its games at the venue.
The Commission also approved Gold Coast competing in the TAC Cup under-18 competition in 2009 and the extension of playing and coaching contracts beyond the end of next year.
Gold Coast hopes to graduate to the VFL in 2010 before entering the AFL in 2011.
A squad of 40 started pre-season training on Saturday under the watch of coach Guy McKenna and assistants Shaun Hart and Marcus Ashcroft.
To date, eight players have signed contracts with the club.
