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FORUMS > Bradford Bulls > Renamed: Super League Europe Ltd buys the Bulls
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Question 3: How on earth can anyone be expected to make an offer for the club if they don't know what they are getting?

This raises far more issues than it solves imo.

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Quote: Nothus "That is the default penalty for going into administration. What happens after you're in admin is irrelevant in this regard (except for once a bid is accepted/debts are covered by the new owner as with Wakey).'"


Why is it irrelevant? Wakefield were not thrown out. Why is it different for us?

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what a joke.

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Quote: debaser "Question 3

No, it raises one issue, dont put YOURSELVES in the position in the 1 st place

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Quote: Starbug "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'"


There is a precidence for this though, several years ago when Hull and Gateshead merged (cough ,cough) they were paid one million pounds to do so. But although everyone assumes the money came from the RFL it was actually taken from the budgets of the other Super League teams and was shown up on the account as our club owning 10% of Hull. I never did find out what hapened subsiquent years to that money.
All this talk of how sorry people feel for those who are working for nothing is very commendable.I felt bad yesterday when I attended an organised social of around 150 people with major disabilities who had booked Odsal for a party some time back and paid £300 deposit.A few weeks back they were contacted twice telling them to find alternative venue and they would not be geting their deposit back. Early this week they were asked if they were coming along to the booking and they replied that they had been told to find somewhere else so they had .So they were reminded they would be only geting 25% back. I felt ashamed to be a rugby league fan , I couldn`t look them in the face they have already had their budgets cut this year.

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Quote: MjM "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).'"



Are the shares worth anything though. If they are could they be sold?

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Quote: Nothus "They might not bother with a replacement. 13 club SL next year? It wouldn't require a new sky contract iirc.'"


It would mean 24 matches rather than 27 , no magic weekend with an odd number of games

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Quote: Cassandra "Are the shares worth anything though. If they are could they be sold?'"

SLE appeared to sell them on for around 5p a share (presumably either back to Hull or to Hull's owners) in 2004. So, in a word - they were worth **** all. As you would expect shares in a Rugby League club to be. Few people are in this to make money - most are just concerned with trying to achieve a balance between getting a winning team and minimising the losses.

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Here it is AF, I have done the first word in black and the second word in red and amber. For you colourblind folks the first word starts with f and ends in g.

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How much can us, the fans, raise by the end of Nov? Could this help with any potential buyer who maybe wants to get involved but wants some support?

If the debts are nearing £1m do we need to start again fundraising?

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Quote: Bets'y Bulls "How much can us, the fans, raise by the end of Nov? Could this help with any potential buyer who maybe wants to get involved but wants some support?

If the debts are nearing £1m do we need to start again fundraising?'"


Too late, any fundraising you do now would be to help fund your upcoming seasons in the Championship

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Quote: Starbug "Too late, any fundraising you do now would be to help fund your upcoming seasons in the Championship'"


Rubbish.

If the debts were cleared, the Bulls would be eligible to apply for a SL place.

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Any thoughts Adey?

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Quote: Adeybull "Rubbish.

If the debts were cleared, the Bulls would be eligible to apply for a SL place.'"


Not suggesting they wouldnt, away you go then, but you havent got till November, the RFL will announce your relegation and your replacement after the last match of the regular season, to leave it any later would compromise both yourselves and them, as well as both competitions

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Quote: Adeybull "Rubbish.

If the debts were cleared, the Bulls would be eligible to apply for a SL place.'"



But the Bulls would be owned by the other SL clubs, so the Bulls destiny would be in the hands of it's competitors. They will want any money invested back as most of them are loss making. Getting it back from a sale is one way, if not TV money would be the only other way.

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