FORUMS > Bradford Bulls > Renamed: Super League Europe Ltd buys the Bulls |
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| Quote: Cibaman "Have they said how they are going to "run" the club? Are they going to re-employ the staff? If we run out of pitch paint who gets the blame?'"
don't worry, for the remaining home games the team you play will send their groundstaff over a day early to cut the grass and paint the pitch lines. And at least 1 person from every SL club will man the turnstiles so no-one can pocket any cash without the others knowing
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| There's some key questions in that last post by FA, and I wouldn't presume to have definitive answers for any of them
However my assumption for the scenario posed by Question 4 is that should the club fold, they will use the 2013 Sky TV money that would have come to the Bulls to replay the other clubs. The figures kinda stack up (granted we are only guessing). Club acquired for £1 million, and Sky TV money is c. £1.3 million per year.
That scenario would obviously be contingent on a 13 club SL in 2013
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| Quote: Geoff "It's slightly more than that actually, I think. It was originally reported as a £90+million 5-year deal, which is £18 million p/a split 14 ways, or £1.3m per club.'"
15 ways, the RFL central fund gets a slice.
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| what happens on Sunday, if it's a newco that's formed are all season tickets now cancelled.......?????
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| Quote: pie.warrior "what happens on Sunday, if it's a newco that's formed are all season tickets now cancelled.......?????'"
I think they will have to go some to get everything finalised by Sunday. Remember that at this stage it is still only a formal submission of an unconditional bid, nothing more.
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| The SLE bid will be, to pay running costs to the end of the season , to pay a % of debts ( much of which will be to the RFL ) , then if no buyer is found to operate as a Championship ( NOT C 1 ) till the next round of licencing, whereupon if qualified ( win 2013 NRC ) they will be in a position to return to SL, and then put up for sale
They will play at Odsal on a reduced rent until then
The question being, who will relpace them till then?
The Bulls are now effectively a Championship club
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| Quote: Highlander "Going forward.... "liabilities going forwards"
They have offered a newco deal to BG , thereby leaving old debts, behind.
As I said before, uncharted waters.
SL(E) will own the newco. An owner wishing to retain the SL licence will have to find some way to make good on old debts when they buy the newco.
If a new owner doesn't wish to remain in SL then they can ignore the old debts.'"
But if its a newco then there won't be any debts to repay will there? Why would they have to pay off expunged old debts to play in SL but not in the championship?
Geniune question, goes over my head much of this. Could, in theory, Guilfoyle reject the bid as not a good enough deal for creditors? Isn't, along with trying to the best deal for the club as a going concern, getting the best deal for the clubs creditors part of his remit? If the plan is for a newco and thus wiping the debts then is there a chance this could happen? Could he as the adminisrator give preferred bidder status to someone else?
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| Quote: Adeybull "Something like that, although I think it was each club had a share in the merged jobbie. Bulls accounts showed an 8.33% holding in the entity, IIRC?
Not just yours or my memories that are a bit iffy - I asked precisely that question of a very well known RL press media personality last week, and he could not remember the exact details either!'" Just on this marginally interesting front, SLE used to own a batch of shares in Hull FC - redeemable, convertable Ordinary shares which had no voting or dividend rights.
The 2003 Leeds accounts tell us that, "the investment relates to the purchase of £250,000 worth of shares in Hull RLFC by Super League Europe Limited (SLE). SLE holds these shares as the authorised agent on behalf of the twelve clubs who participated in the 1999 Super League season. "
i.e. SLE put some initial capital into Gateshead to get the club up and running. Somewhat different to the case of the Bullies, but a precedent of sorts for the other clubs having a stake in another member club. (The 2002 Hull Annual Return also shows a tasty batch of Hull FC shares owned by a Mr G Hetherington but that's another matter entirely).
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| Quote: Errol Stock "This is highly likely to be an interim step to take control away from someone who does not have the best interest of the club at heart - only the creditors - thats his job.
Fairly confident this is the next chapter but not the final one as its not a long term sustainable solution.
That said - once the dust settles today - there will be a few pages of moaning from certain geographic quarters who are likely to turn purple..'"
Not from me.
I hope you survive as a SL club and not just a SL owned club! The fans and staff are a credit to Rugby League.
I suspect what is going on here is that the RFL through its proxy SL Europe is looking to protect its investment; Odsal and the integrity of the league structure. They are hoping that someone will come along witha an offer in the close season that will allow Bradford to continue, hopefull in Super League.
Anyway, good luck guys and gals.
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| Quote: Cibaman "Have they said how they are going to "run" the club? Are they going to re-employ the staff? If we run out of pitch paint who gets the blame?'"
Er, Leeds. Obviously.
In terms of our owners, I can't envisage a scenario where SLE would want to own a club playing in another competition.
I realise we can't be supported indefinitely, but I am more confident of our SL future today than at any time previously.
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| Quote: saint at wire "Not from me.
I hope you survive as a SL club and not just a SL owned club! The fans and staff are a credit to Rugby League.
I suspect what is going on here is that the RFL through its proxy SL Europe is looking to protect its investment; Odsal and the integrity of the league structure. They are hoping that someone will come along witha an offer in the close season that will allow Bradford to continue, hopefull in Super League.
Anyway, good luck guys and gals.
A SLE owned club will automatically become a Championship club, as soon as the bid is accepted, the RFL will inform whichever club they want to replace them, to wait any longer would be grosly unfair to the rest of RL
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| Quote: Stul "Er, Leeds. Obviously.
In terms of our owners, I can't envisage a scenario where SLE would want to own a club playing in another competition.
I realise we can't be supported indefinitely, but I am more confident of our SL future today than at any time previously.'"
Id suggest exactly the opposite , to own a club in the same competition would be a huge conflict of interest, you will be visiting the LSV next year
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| Quote: Theboyem "15 ways, the RFL central fund gets a slice.'"
16 ways. One share goes to the Championship clubs !
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| Unbelieveable Geoff!
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| Quote: Starbug "A SLE owned club will automatically become a Championship club, as soon as the bid is accepted, the RFL will inform whichever club they want to replace them, to wait any longer would be grosly unfair to the rest of RL'"
They might not bother with a replacement. 13 club SL next year? It wouldn't require a new sky contract iirc.
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