Well that is up to others then. I have done my bit. Go take it up with the club.

I, and I'm sure everyone else, respects and appreciates you taking time out of a busy schedule to try bring us all up to speed, it's much appreciated.

I'm sure people aren't sat by the computer waiting for your reply though! Let it wait mate, work comes first and give it your undue attention later

I'm not asking you to do anything, I'm explaining why this isn't satisfactory to me. I appreciate all your efforts in taking the time to explain but the fact is you shouldn't be needed.

A bit of help for Adey. The guarantees are to repay the overdraft out of their own pockets in the event of there not being funds available elsewhere, ie in insolvency. Really a last resort by the bank, as messy and time consuming to get at the cash.

Hoods statement as Adey says elsewhere is pretty clear about the directors understanding of the security of the facility though you do have to make an assumption about what is the lease and what is the Coral Stand in the assets section of the balance sheet. But it is the lesser part of the £1m, which seems to be made up of an unexpected tax bill for the Iestyn Harris settlement image rights (which is why its better for me to write this as Adey would not have enough time this decade to write his thoughts about those!!!) plus the RFL wanting their dosh back much sooner than thought.

So in my opinion, 1) Hood etc have been done over by the bank on teh overdraft, that is todays environment and it can happen to any company. 2) the tax bill appears to have been a bolt out of the blue (HMRC are being much more aggressive about tax evasion schemes as you may have seen in the news recently) but 3) I cannot get my head around the RFL thing.

Not read much on this but have the bank cancelled (or reduced to the point of the current amount outstanding) the overdraft?

What is the reason for the bank doing this? I would assume if they had PG's in place that there would be no need unless the guarantors were asking for them to be cancelled? As to the value of the "assets", in reality they are worthless unless someone is prepared to buy the lease to odsal, which seems unlikely

I've worked in commercial/corporate banking for the last few years and the longer this week has gone on, the more it looks like there's been some crash courses being given by the Dicky Wright School of Spin!

I'm sure the Bradford Bulls will survive, but have grave doubts about the limited company running it being around for much longer.

And I've been dealing with commercial and corporate bankers for the last 30 years, and I have seen any number of examples of umbrellas being demanded back once the sky darkens.

And, in amongst some shining exceptions, I've seen any number of commercial and corporate bankers who know so little about how businesses actually work, and how to assess risk (other than let their credit department punch some numbers into Moodys or whatever and rely on what falls out) that it is embarrassing.

Big banks are greedy capitalist scum who should be put up against a wall & shot. Why does it therefore surprise anyone when they simply do what they are here to do?

So who the hell do we owe money to?

The RFL
The Bank
The Taxman

Or all three?

By the sound of it we owe the taxman and possibly the RFL and we have no cash to pay upcoming bills.

Adey, I'm not saying that the banks are always right. I think that Hood & co AND the bank are spinning their respective views as much as possible. As you & I both know, the only way people can get a true understanding is that if people are told the plain facts of what the key debts actually are, how long they've been outstanding and how Hood & co will make sure this won't happen again.

If that clarity doesn't come out, how on earth can anyone be reasonably be expected to contribute towards a £1m pot that could actually be "good money going after bad".

Wrong Adey. They are the greatest intellectual corporate minds that we have & woe betide anyone criticising or daring to fairly tax them. They will take their great minds abroad & our economy will collapse.

OK, I'll go along with that. And respect for not allowing yourself to be provoked by my aggressive response.

None of the bankers I was referring to worked for your bank. (which bank do you work for, did you say...?)

That is "investment bankers". The corporate equivilent of the hyena, but of rather less value.

Your run-of-the-mill commercial banker is as pìssed off with those Masters of the Universe as the rest of us, cos they get tarred with the same brush and tens of thousands of them have lost their jobs as as result.