FORUMS > Bradford Bulls > Peter Hood says Bulls on brink of going bust. |
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| Any idea how long the taxman will give the club to collect the pledges? i'd imagine its going to take at least a couple of weeks to get maybe 90 % of them. Then whats the plan when people dont pay up? regardless of offers to treat etc. no club is going to take their own fans to court for £100
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| The payroll and earlier PAYE are either due now or later this coming week.
The MArch PAYE is due the following week.
The VAT (a lot) etc is due end of the month.
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| What's the scope for extensions on the individual payment dates Adey? Don't you normally get 28 days to make the payment?
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| Er...no.
This is the leisure industry, mate. HMRC has taken too may hits, most recently Glasgow Rangers which may have been the final straw for them.
If you are a few nanoseconds overdue now, they come in very very heavy.
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| Is the tax that is due to be paid now tax that we should have been expecting to pay nothing extra.
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| According to a tweet from Martyn Sadler of league express we have reached the £500k mark!! Now to get this money in and the next £500k!! COYB!!
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| A big thanks to the former minister of sport and his first mention of the pro team in his constituency in five years.
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| The former sports minister who did nothing to help the club while he was a sports minister. Sounds like he's just using this to get himself some media coverage!
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| If the club is losing £100k a month there really is little hope going forward without any big new investment - whether the pledge money is raised or not.
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| So, we've gone from financially secure to losing 100k a month in little over 6 weeks.
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| An MP accusing the BOD of being economival with the truth. There is a phrase to describe it but can't remember it. Somthing to do with 'pot', 'kettle' and 'black'. I am most surprised that he even knew who Bradford Bulls were. Gerry really is a most appropriate name.
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| Another potential pr cock up! If we are losing £100k per month the future looks very grim indeed - unless a new investor comes along and is happy to personally fund that level of loss, it's ways of generating extra revenue that's key to long term survival - something I don't see with this BOD, or of course cutting costs which we've seen for 3 or 4 years now and we're still in the mess we are.
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| If, as is claimed, the bulls are debt free bar this short-term cash flow issue then interest on debts can't be to blame for losing 100k a month. So where is all the money going? Is there going to have to be a major staff and squad cull anyway? How much is the rent that is being paid to the RFL? What is the great master plan to prevent the club being in the same situation in 12 months time? There is an awful lot of questions that still need to be answered sharpish i reckon.
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| Quote: Theboyem "If, as is claimed, the bulls are debt free bar this short-term cash flow issue then interest on debts can't be to blame for losing 100k a month. So where is all the money going? Is there going to have to be a major staff and squad cull anyway? How much is the rent that is being paid to the RFL? What is the great master plan to prevent the club being in the same situation in 12 months time? There is an awful lot of questions that still need to be answered sharpish i reckon.'"
Agreed!
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