The NRL has taken over ownership of the Gold Coast Titans in the wake of the cocaine supply scandal engulfing the club.

NRL chief executive Dave Smith, speaking at a press conference on the Gold Coast on Tuesday, stressed the game's governing body has a commitment to the region, with the move designed to ensure the long-term future of the club.

"The NRL has taken control of the club," Smith said.

"This is a really, really important day for the Titans, more importantly, for the fans of the Titans and fans in the Gold Coast.

"This demonstrates a real, long-term commitment to the Gold Coast and to the Titans.

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"We will solve these problems, it's not the end of the world. We will fix these and build a club that is not only competitive, but a club to be proud of."

The NRL said in a statement the club has been placed in voluntary administration by the directors after conceding it could no longer continue to meet its financial obligations, including staff and player salaries.

The NRL intervened in a similar manner in 2014 to rescue the Newcastle Knights from financial crisis.

Despite the Titans handing over their licence to the NRL, the current board, which Smith praised during his press conference, will be retained.

Chief executive Graham Annesley and chairwoman Rebecca Frizelle have been tasked with resurrecting the franchise along with Darryl Kelly and Paul Donovan.

"This club is here for the long term on the Gold Coast ... and it's onward and upward from here," Annesley said.

"Every business needs financial stability and this club now has it and that's good news for the Gold Coast."

Smith and the Titans' top brass addressed the Gold Coast players in a meeting after the press conference and utility Daniel Mortimer appeared to be on board with the takeover afterwards.

"It's pretty positive I think. We know the club's got security now so I think it's a positive," he said.

"At training we've all been ripping in and focusing so I think it's been all right."

Smith denies cocaine a major problem for NRL

Smith denied there was a systemic problem with cocaine across the NRL, saying the game is in great shape and the drugs scandal the Titans are facing is "not the end of the world."

"1,000 players pull on an NRL jersey. A handful have been charged. No, it's not a [league-wide] problem," he said.

Five Titans players have been stood down after receiving notices to appear in court in March in relation to an investigation by the Queensland Crime and Corruption Commission (CCC) into a cocaine trafficking syndicate operating in South East Queensland.

The Titans announced on Sunday that the five players would be called to front the board in the next couple of weeks to argue their contracts should not be torn up for bringing the club into disrepute.

None of the players in question — State of Origin representatives Dave Taylor and Greg Bird, hooker Beau Falloon, outside back Kalifa Faifai Loa and fringe first-grader Jamie Dowling — will be available for the Titans' opening NRL match against the Wests Tigers on March 7.

Smith said further decisions about those players' futures would be made as more facts emerge.

"They will be given due process.

"As facts emerge we will know more ... and we will take the decisions we need to."

The club is currently without a major sponsor and is still seeking a new training venue after abandoning its arrangement with The Southport School when news of the scandal broke on Friday.

On Tuesday, the CCC issued a statement to clarify its investigation.

"Based on current information, the CCC expects any further arrests of current or former sportspeople will occur by the end of this week or early next week," the statement said.

"However, if new information comes to hand the CCC may consider further arrests."