Close connections between a part-owner of the Broncos, a recently established player manager and a Brisbane recruitment officer have drawn accusations the premiers are harbouring elite Queensland talent for future control.

Broncos chief executive Bruno Cullen concedes the relationships between property developer John Geaney, who is the Broncos' second-biggest shareholder, Col Davis, a player manager whom Geaney recently set up in premises; and Paul Bunn, a Broncos staffer involved in recruitment, is "not a good look".

However, Cullen, who investigated the so called "troika of influence" following an inquiry by the Herald, insists the relationships between the three men, all with Rockhampton connections, are "normal and commercial". Cullen dismissed any suggestion the Broncos would stockpile talent with one player manager, describing it as "silly" and a "severe risk management issue". Geaney owns a Brisbane house which accommodates four Broncos and is managed by Bunn and his wife.

Geaney also set Davis up as a player manager, and Broncos forward Sam Thaiday recently joined him as a client.

Davis, who once worked as a Broncos talent scout, is a lifelong friend of Bunn from their Rockhampton days.

Australian Securities and Investments Commission documents show that the registered office of Davis's player-management company, Life Arena P/L, is the same Westbrook, Brisbane address as Geaney's Sports Corp P/L. It is also listed as Davis's principal place of business.

Geaney, whose family company owns 10 per cent of the Broncos - second only to News Ltd, with 67 per cent - is also a member of the elite group of Broncos-supporting businessmen called "The Thoroughbreds".

Because Davis has been busy recruiting young colts who will not receive NRL pay cheques for some time, Geaney's generosity in establishing Davis in business is perceived as a long-term investment of influence in the club. Furthermore, the close relationship between Bunn and Davis has given rise to allegations that the club is directing clients to Davis to give Geaney leverage.

While conceding Broncos management had advised all football staff, including Bunn, they must not recommend managers to players or their parents, Cullen rejects most of the accusations.

"Col Davis's company has a lease agreement with Geaney's company on relatively normal terms - six months rent free, six months discounted and then commercial terms," Cullen said, pointing out rent-free periods are common with similar transactions.

Both Davis and Geaney verify this. "The suggestion Davis recruits for the Broncos is totally out of order," Cullen said. "He has about 30 players on his books - less than half of them are Broncos."

Asked whether Thaiday had recently joined Davis, Cullen said: "Yes, Sam's relationship with a previous manager lapsed and he recently signed with Davis."

However, the young colts Davis recruits is the issue in the stampede for signings by a herd of player-managers jockeying for influence.

Davis concedes he has management agreements with four players from an under-15 Brisbane team, coached by Bunn. Asked if they were the elite members of the team, Davis said, "They wouldn't be the worst ones, would they? I have a relationship with Bunny that goes back to primary school. I would like to have this relationship with all recruitment people."

Geaney, who also says Bunn is long-term friend, argues perceptions of conflict of interest are inevitable when people have known each other for years and their passion for sport draws them even closer.

"I set Col Davis up in some spare office space I have and I own a house which Bunny and his wife and young Broncos live in, but it's all to do with helping people get on with their careers," he said.

Cullen said of Geaney's role as a Bronco landlord and part-owner of the club: "Geaney has one house which is the same as many other houses we have for other kids. Four do live there, but the rent they pay is normal."

It is understood NRL salary cap commissioner Ian Schubert has accepted the rents as commercially proper.

"Of the dozen or so kids who have been through Geaney's house, more than half are with other clubs," Cullen said.

Asked whether the relationship between Davis, Bunn and Geaney is a "bad look", Cullen said, "Based on the rumours, yes, it is. "It has been a concern in the past and we have confronted that and given very strict direction in that regard to all Broncos football department staff. All have been advised by the club that they should not recommend any particular manager to players or their parents.

"Davis has been a scout for the Broncos in the past and was a Brisbane selector for 16-17-year-olds for the past three years. Based on that experience, he recognised the opportunity as a player manager in Queensland."

Geaney, perceived by some as a brumby amongst thoroughbreds, admits having had clashes with Broncos management, including an argument with Cullen over admission of guests to the Broncos' grand final party.

But he is also lauded for his work with under-privileged youth, paying the private school fees of Aboriginal talent he has relocated from disadvantaged areas.