Yes RBS is watching you........

Seriously, I hold some shares in RBS, but I'm also a Bulls fan.

I’m not entirely familiar with the situation, the Bullbuilder guys seem to know more.

But from an outsider’s prospective, we seem to have sold our only asset (Odsal lease) to cover the RFL debt. However, this deal has resulted in the overdraft facility been withdraw by RBS, as the Bulls no longer hold any securities. RBS have made similar decisions with other businesses, such as GAME and even Gordon Ramsey.

Seems when we sold the lease, the board were caught between a rock and a hard place. How we got to that position is what I would like answering!

I'm struggling to work out how we were physically able to sell the ground lease if it was the main security on the overdraft. Sorry if I'm biased because I hate RBS and love Braford Bulls but it doesn't seem as simple as RBS are making out.

Also if Ryan Duckett is to be believed they were offered securities last week by the directors last week. From my experience RBS seem to be quite inflexible nowadays in their lending to businesses.

RBS' Corporate Banking Division claims: -

"No bank is doing more to support UK businesses than RBS"

Regardless of the securities issues, it doesn't seem that way to me...

It was not our only asset. Far from it. And it was IMO an asset of little value to a bank in the event of insolvency. Also, I do not believe RBS's explanation that they pulled the facility for the reason they said. I suspect (although do not know) they saw the big receipt from the RFL, and took the opportunity to cut and run while they had the chance. In also suspect that this was all the domino effect from the RFL wanting the loan repaid earlier than expected (however that arose). I was told several years ago by a senior RBS official (I was in the middle of negotiating a £3m facility at the time...) that they RBS had no appetite for lending to RL clubs, and wanted to exit the sector.

But we do not have concrete facts, so I'm hesitant to pillory RBS as it stands - especially since they are owned by the taxpayer, and we'd scream blue murder if they lent to someone we saw as a poor credit risk!

...is the right answer.

And RBS are our current bankers, so I can speak from the same experience.

Apparently the Lord Mayor of London is a lifelong Bradford fan. He wants to get in there and start swinging his mace about.

Or put it on Ebay.

It's ironic that the amount we're looking for to save our club is pretty much exactly what RBS head honcho Hester was going to get as his Christmas friggin bonus.

RBS have to find the money to pay their £20m Six Nations RU sponsorship. news.bbc.co.uk/sport1/hi/rugby_union/7843258.stm But on a serious note RBS said they removed the overdraft because of the stadium www.bbc.co.uk/sport/0/rugby-league/17536053 Simple way for the overdraft bk would be for the RFL to transfer the title deed back to the Bulls and RBS would be olbliged to restore the overdraft.

RBS have to find the money to pay their £20m Six Nations RU sponsorship. news.bbc.co.uk/sport1/hi/rugby_union/7843258.stm But on a serious note RBS said they removed the overdraft because of the stadium www.bbc.co.uk/sport/0/rugby-league/17536053 Simple way for the overdraft bk would be for the RFL to transfer the title deed back to the Bulls and RBS would be olbliged to restore the overdraft.

And I have already put up a strong argument regarding why I cannot believe that was the case.

And I think you might find they were offered additional security, which they declined?

Or didnt value as much as the stadium lease?

We were asking to lend more. They are a commercial lender, albeit one under massive pressure from pretty much everyone in the UK to tighten up their lending procedure and not expose itself to any more toxic debt.

we all know Odsal is toxic!

What are the chances of the RFL signing Odsal back to the Bradford Bulls for say £1, as the RFL could not in all likelihood afford to loan the Bulls the necessary shortfall in funds. The Bulls then return to RBS with security and go from there, and restore any line of credit that may or may not have been decreased.

What's the number below "nil"? Less than that.