I have a brilliant idea

Lets write to all the Bulls fans, tell them the club is in need of cash and needs the raise say £500,000 by a certain date. Ask them to pledge funds and then watch it all go down the drain. Do not give them any shares in the club, but let the club use it to pay off debts. Then again, I think they have used this idea before to no avail.

The whole thing is utter incompetence on a grand scale, it beggars belief it really does!

Thank you,some common sense from our nearest and dearest

If you are putting your money or your reputation at stake you would want to know what you are dealing with - well I would. The profit thing is non-issue, this is still a limited company with numerous sizeable liabilities.

It got Peter Hood out of a personal hole though!!

Yes it did

This is just complete conjecture as I haven't really looked into it, but in general, there is a lot of money in rugby in the south of France. Maybe there is an opportunity for tolouse to enter super league. With the (what I would call) success of Catalans, potentially tolouse could progress similarly and replace London?

Good idea, it worked really well when they couldnt compete in the Championship

So when Khan and Sutcliffe tethered their combined business brains to the Bulls bandwagon, they were deep in the hole with unfathomable, unserviceable debts. They appointed Whitcut, who was so stupid he "forgot" that a tax bill was coming due and almost got them wound up.

Good to see things have really moved on since then.

The whole purpose of Insolvency legislation is to afford protection to the insolvent party and allow them to exit with a fresh start. If the halving of funding was to reclaim a loan that would be a preference.

If it was a condition to let them stay in Super League the logic still remains very questionable given the inevitable situation that hamstring has led to.

The Bulls themselves had a choice G1, they could have relinquished their SL licence and bust the business, starting again in Championship One.

They opted to take the reduction in central funding in order to stay in SL and avoid being relegated. Presumably they will have done so in the knowledge that it would lead to belts having to be tighten.

Clearly, they weren't tightened far enough for whatever reason. From the noises coming out, it seems the internal governance and management processes at the Bulls left a lot to be desired.

I don't doubt the Bulls have continued to be mis managed, However, I wonder what the rationale behind the decision was to let them back in with half funding. Was it punishment? Just seems petty. Can't see the logic.

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The purpose of insolvency legislation is to keep the parasites in "Business Recovery" in BMW's and fine dining. One group of people it doesn't help is the very people it should i.e. the creditors!!

I would be amazed if the Bulls had a tax bill - unless it was for PAYE or VAT?

More likely they would have tax losses they could sell?

It's no the purpose, it's a side effect, but not the purpose.