FORUMS > Bradford Bulls > Questions that we need answering.... |
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1271.jpg Whenever you find yourself on the side of the majority, it is time to pause and reflect.
Mark Twain
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| Quote: Asim "7. Is the club really losing £100,000 per month as per the T&A article.
The biggest risk to the pledge isn't claims like that, it's the fact the club are not willing (or able?) to deny them or just provide an full detail of the liabilities that need covering.'"
If we were losing that £100K per month it would be £1.2 million over a year and whilst I'm not one of the accounts watchers I don't think they show that kind of loss.
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| The 2010 accounts showed a loss of just over £300k.
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| Quote: Bulliac "If we were losing that £100K per month it would be £1.2 million over a year and whilst I'm not one of the accounts watchers I don't think they show that kind of loss.'"
Pretty certain there will be months where we 'lose' 100k, likewise there will be months where we 'make' 500k. It's the nature of our income streams where we have several large payments spread over year with little in between. Think it's a case of selective quoting of figured without putting them in context to make a headline.
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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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| Quote: mat "Pretty certain there will be months where we 'lose' 100k, likewise there will be months where we 'make' 500k. It's the nature of our income streams where we have several large payments spread over year with little in between. Think it's a case of selective quoting of figured without putting them in context to make a headline.'"
Sounds more likely....I hope.
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Pollsters doing Excellent job - say recent polls.: |
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| Quote: mat "Pretty certain there will be months where we 'lose' 100k, likewise there will be months where we 'make' 500k. It's the nature of our income streams where we have several large payments spread over year with little in between. Think it's a case of selective quoting of figured without putting them in context to make a headline.'"
That's the one area where the cheap pledge tickets caused us some problems. With standard prices there would always be more walk-ins spread throughout the year for home games. The cheap tickets made sure that apart from away fans, the majority of ticket income was pre-season. There were many other benefits to the pledge ticket deals but this was not one.
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| That is where the overdraft comes in useful. Damn banks!!
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| Quote: Bets'y Bulls "That is where the overdraft comes in useful. Damn banks!!'"
Are we still blaming RBS for this?
As I understand it:
1) We owed them £150k
2) We asked them to increase that.
3) They said no, and cut the facility.
4) We then announced that we need £1m to survive the season.
Weren't they proved right? They may have acted in a very heavy handed manner, but would we have been better off if they'd lent us another £100-200k?
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| Quote: Adeybull "The 2010 accounts showed a loss of just over £300k.'"
Would this loss include the "extraordinary" payments being made to another club rumoured to be a round £300,000 PA. If so this would have been around break even which would be a reasonable year.
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| Quote: eddievan "Would this loss include the "extraordinary" payments being made to another club rumoured to be a round £300,000 PA. If so this would have been around break even which would be a reasonable year.'"
Good point
Might be worth remembering why were making these payments - maybe through an article in the T&A
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| Overdraft facility was agreed with Nat West and much higher than £150,000
Written agreement was in place to reduce over a "reasonable" period (many months)
Substantial headroom was achieved in mid March way ahead of agreed schedule at which point bank pulled the plug
VAT for last 2 seasons not an issue. Check accounts and do the math
2011 accounts will show a profit
Business model after November shows neutral income and expenditure
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| Quote: Incredibullman "Overdraft facility was agreed with Nat West and much higher than £150,000
Written agreement was in place to reduce over a "reasonable" period (many months)
Substantial headroom was achieved in mid March way ahead of agreed schedule at which point bank pulled the plug
VAT for last 2 seasons not an issue. Check accounts and do the math
2011 accounts will show a profit
Business model after November shows neutral income and expenditure'"
So why do we urgently need £1m?
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| To get through to November
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| But there are two problems - getting through to November is certainly one, but to assume because a business plan balances everything will be fine is naive in the extreme and lets face it hardly any business plans see the light of day which aren't good. The problem is while the costs next year are pretty certain - there is always less certainty about income and those little or not so little skeletons which com out of the Bulls cupboard, you need to have some contingency apart from begging from the fans.
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| The costs are controllable as the vast majority are football related.
Forecast income can be based upon many things that may or may not be certain, naivety would be for the club to forecast the uncertain, which I am sure they would not, after we have committed our hard earned cash to the pledge.They will need to cut their cloth to their forecast "guaranteed" income rather than being overly optimistic.
Just my assumption.
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Transparent Backgrounds/Waldorf.gif "As you travel through life don't sweat the petty things and don't pet the sweaty things" - George Carlin
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| Positive looking cash flow forecasts and business plans are also useful tools for encouraging external investment, for example if you were wanting to shift your shares in a business.
It's up to the buyer to be able to spot any potential flaws or holes in the logic.
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