Quote: El Diablo "Am I right in saying though that the decision to liquidate or not rests largely with the administrators? '"
That's how I understand it.
Quote: El Diablo "It does appear that the decision to buy the lease on Odsal may not have been a great piece of business by the RFL. If Bradford did fold, or move to Valley Parade (not impossible surely?) as a Newco, then what would that asset be worth, given the covenants on it?'"
If the Bulls go into liquidation the lease the RFL hold certainly looking a bit like they've been sold a pup. Any newco would be free of any contractual obligation to play there (unlike the current setup). So they could go elsewhere in theory. However I would expect VP to be more expensive.
This of course assumes there would be a newco. Not sure who would fund it and how it could afford to run. VP and Odsal would both be out of the price range of any sub SL operation. All the current bidders want to know if they're guaranteed SL status, a fair question to ask really.
You could easily have the RFL owning the lease on Odsal but no club in Bradford.