I’m not fully convinced that the takeover will actually take place.
Recent history shows that meetings between consortiums attempting to take over the bulls and the RFL don’t go very well to say the least.

This is my worry too. I think there may be many more debts to be revealed. How much has already come out of next year’s central funding? Who else is going to say that they are owed money? I am very suspicious of a due diligence that merely relies on AC’s word.
If this happens, will the consortium put us into administration or pull out?

Chris wouldn't, he doesn't do social media or this forum

from his user name nestegg is shoving it in your faces

I think this last week has confirmed we’re no longer challenging for anything next season, but instead are going to be in a relegation fight. Oh well

That depends on who hangs around, how many gems we can pull out of the academy and who the dual reg partner will be.
If we could keep most of: Pickersgill, Keyes, Lilley, Milnes, Minchella, Doyle as a starting point then a team can be built around them. That might be too optimistic/unrealistic but I genuinely think that we can do as well as this year IF this is sorted quickly.

If winding up petitions are issued then other debtors can join the petition, and any body owed 6 figure sums (the most obvious 6 figure sum I can deduce is £500,000 for Odsal upkeep etc but that would be spread over many businesses) would have jumped to add themselves as petitioners, because the business have to satisfy all the petitioners not just the original.

This situation differs from Green and OK in that Chalmers saw the future and did something about it, put the business up for sale having got rid of the albatross around his neck, that cash black hole called Odsal. and what a experience, the decaying memory of glories tarnished by wage cap overspending and the expulsion of our lads because of the overpayment of that in-decline Leeds player. You can only make decisions about the future not the past glories which Chalmers has done. New buyers aren't out there hanging on every tree in Bradford just waiting for Chalmers to come out the office and call them in. I just despair of the understanding of business by some, in my experience Chalmers has done the seriously dirty work and handed a golden bough to the new owners. ok gold plated bough.

the new owners are buying the club and the contracts of in contract players: there has not been an insolvency event so no points deduction, etc etc. Why would any new owner change a successful strategy of having a core of our lads playing for the club they mostly supported themselves as kids? Subject to this new consortium being what is claimed, we are in a stronger position

Now if Chalmers had decided out, and he is only getting face value for his shares of £100, and he or the person funding him has put at least £679,000 into the business (creditors due over 1 year per last accounts), they might just feel inclined to challenge any amount extra they have to pay out. Wouldn't you? The last accounts were filed 12 October, I would guess that the timing of the new consortium is to ensure going concern status for the filing of the imminently due accounts, and the diligence around the move to Dewsbury was a useful smokescreen for the time needed for the sale.

So there we are, my thoughts based on being a Fellow of the Institute of Management Accountants recently working in retail and therefore using card acquirers (with all due deference to Ewenor, I second your emotion) with an MBA in business strategy, ex Accountant/FD of several £16m businesses during boom and bust (just got out of the last bust one 3 months before the event, stupid directors), the accounts of the Bulls not just current but in the past, the tea leaves left in the recyclable cup (its got Dewsbury printed on it) of the finest brew of the Tea Lady at Odsal may she RIP but be resurrected to the glory of the fans, and the entrails of the Bull mascot slaughtered on the high altar of Odsal (the score board) at midnight on a cup half full moon.

Which, PEST-NEG, I would put up against your any day.

Ah, that was nice, I should do this more often....

COYB!!!

The reserve team has to go need to run a smaller squad and academy. We have been in this position too many times and need some stability. We are no longer seen as a big club and need to cut our cloth according if that means some hard decisions have to be made so be it as long as we have a team to support

Well crafted post. However, you appear to do this excellent forum a disservice Bulliac. It is read by a vast array of RL/ Bulls fans, and guests/related parties. Trust you will all agree that so long as 'we' all deal in the truth and reasonable conduct then all should be fine and dandy. In that regard if anybody for example thinks that any posts by 'us'/'we' are untrue then feel free to inform us on the forum.

It's the former, and that is the god honest truth Bulliac. Why do we bother some may ask .... and so do we on occasions

I thought the new rules meant reserves & academy were now a package deal. If you run a Cat 1 academy, you have run reserves