FORUMS > Bradford Bulls > Council Loan? |
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973_1515165968.gif Last edited by Ferocious Aardvark on stardate Jun 26, 3013 11:27 am, edited 48,562,867,458,300,023 times in total:d7dc4b20b2c2dd7b76ac6eac29d5604e_973.gif |
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| Quote: Highlander "Is it coincidental that the gap between the money we have reportedly lost (about £600k) and the money gained from new sponsor (£400k) is about £200k?'"
Dunno but it does just underline how stupid the decision by the RFL was, when they are trying to allegedly get all clubs to work on a commercial and self-sustaining basis, that they would at the same time rip us off half our income. Given that it obviously takes all the clubs AT LEAST the money including that full Sky income to be in the financial place they are - which, Leeds apart, seems to be not great - what was the plan?
" [iWell, we know you, like everyone, need every penny of that money, and we know you, as a new broom, have no connection with the management that failed, so to keep a level playing field, what we'll do is take away half your money. Because? Well, just because. And you, alone of all clubs, will be able to break even at least, even without half your Sky money. Whereas other clubs will run at a loss, despite full Sky money, and boosted by their cut of what we rip you off. Because there's magic which will mean Bradford can make do on less money than everyone else.[/i"
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45_1302643626.jpg :d7dc4b20b2c2dd7b76ac6eac29d5604e_45.jpg |
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| You would presume so, although the wording - and the eligibility - would need to be very carefully drafted, I think?
However, OK's wording (as quoted, anyway) is pretty ambiguousthe T&A reportrl it seems clear he is intending to retain control. The wording reads to me like he is not seeking to raise capital for the club, but instead to sell some of his own holding, but without more detail we can only speculate.
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| 'Former Sports Minister Gerry Sutcliffe, honorary chairman of Mr Khan’s OK Bulls Ltd, said the club would be valued before shares were made available and the move would bring in investment'.
Then thiis suggests they are raising capital for the club but agreed it's not very clear.
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45_1302643626.jpg :d7dc4b20b2c2dd7b76ac6eac29d5604e_45.jpg |
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| Indeed its not. Because the wording could mean, e.g.:
a - we value the club, to put a price on new shares in the company, so we can then offer out those shares to bring in new capital; or, just as easily:
b - we value the club, as a basis for bringing in investment from other businesses or high-net-worth individuals, where we will need to calculate how much % of the club say a £100k investment will buy you; and at the same time so OK can determine how many of his own shares he can sell to supporters whilst still retaining a majority holding.
- or any one of a range of other possible interpretations.
To me, the wording could be quite deliberate: shares will be "made available", not "issued". "The move would bring in investment", not "the issue of those shares will bring more capital into the club". But, who knows? How much is lost in the translation from utterer via hack to page? How much was said just as general, informal comments in layman's speak, to try and be helpful, rather than said with a specific objective in mind?
But now the genie is out of the bottle, I do think we need a few more specifics to avoid excessive - and quite possibly wilde-of-the-mark - speculation?
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438_1551258406.jpg "If you start listening to the fans it won't be long before you're sitting with them," - Wayne Bennett.:d7dc4b20b2c2dd7b76ac6eac29d5604e_438.jpg |
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| As with anything like this it's hard to know what is going on when the press reports can get easily confused. I hope the T&A send a hack with some knowledge about this sort of thing (if such a person exists at Hall Ings).
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| Quote: Bullseye "As with anything like this it's hard to know what is going on when the press reports can get easily confused. I hope the T&A send a hack with some knowledge about this sort of thing (if such a person exists at Hall Ings).'"
That is asking an awful lot Bullseye.
But we all assume that OK actually knows exactly what coulld happen here himself - with new investors and the potential issues involved in selling shares to the fans. I guess he has been in business mainly on his own, or his families account in the past - so running a multi-share holder company could well be new ground for him as well.
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