FORUMS > Bradford Bulls > Confirm or Deny!! |
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| Quote: MicktheGled "I need to be careful how I word this but when I spoke to companies house about linking companies they explained it like this to me...
EG
The companies in Liquidation and the Bradford Bulls have identical shareholdings as can be confirmed freely on the public records held at companies house. 55% to Marc and 45% to his wife.
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| Quote: MicktheGled "The only link between the two companies is that the Bradford Bulls use Marc Green's safe guard company to provide security on match days.'"
The link is that Marc is a shareholder and director of both companies.
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| Think basically we are in the s**t.
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| Quote: Sensei-Bull "Surely the link between the two companies is Marc Green?'"
But the Ltd company is the legal entity isn't it so unless there was clear evidence that the companies were truly linked?
Again why didn't the RFL pay the wages from this month's central contribution? I know it would have denied the T&A their sport but it would have stopped further damage to the clubs incomes (i.e. us) etc whilst the appeal was heard, it would also have stopped the ambulance chaser charging and kept the squad settled.
After all it's not in their interest to lose a revenue stream in regards to rent. Or is it?
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| Quote: Dannyboywt "Why wait until wage deadline day and not step in now, also if it's a new owner isn't it cheaper to buy the club after admin again?'"
Well, yes it would be, little doubt, [ihowever[/i the club would be diminished and lose value due to the administration process. Going into admin means a points reduction for starters [which also means reduced competition money the following year], maybe a 'fine' of TV money, as occurred previously. It also means that players and staff are allowed to cancel their contracts, it means lots of people doing business with the club, eg suppliers etc will probably lose out and be pigged off - and just as importantly it hurts, embarrasses and disaffects the very supporters any new business needs if it is to be successful.
Probably best avoided, if possible, imo.
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| Quote: MicktheGled "The reason the bank freezes accounts is because all transactions between presentation and hearing of a WUP are voidable in the event that the WUP succeeds, and the bank can be liable to pay back any amounts paid out of the account in that period.
So unfortunately the club's and Marc Green's accounts are isolated until the September hearing.'"
Not a chance that his personal bank accounts been frozen are in anyway connected to anything that has gone on with the Bulls. Anyone who believes that is quite simply naive.
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| Quote: debaser "It seems pretty unfair that the Bulls (a separate entity) are suffering because of the "failings" of an unrelated company.'"
This simply is not the case, the fact is that Bradford are just about insolvent and as has been mentioned should not be relying on money from a directors personal bank account to pay wages.
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| Quote: Greg Florimos Boots "Not a chance that his personal bank accounts been frozen are in anyway connected to anything that has gone on with the Bulls. Anyone who believes that is quite simply naive.'"
Agreed, though with two WUPs in three months the banks would be very vary and freeze the clubs account.
So another one of my over active theories....I guess his plan would have been to use his account to pay the Bulls staff. However, although he left SSG in March, there's a debt against them at HMRC so looks like a fortuitous pincer movement as the bank freezes his personal accounts on that score at the same time (if both accounts are held at the same bank it's not to hard to stretch to this conclusion I guess)
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| The wage bill is far bigger than the central funding?
A squad of 40 players on £30,000 is £120,000 month
Add the 24 backroom staff on £20,000 is £40,000 month.
£780,000 / 12 is only £68,000.
Where's the other £100,000 coming from?
It's mismanagement on an industrious scale.
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| Quote: Greg Florimos Boots "Not a chance that his personal bank accounts been frozen are in anyway connected to anything that has gone on with the Bulls. Anyone who believes that is quite simply naive.'"
Marc Green told the players they had.
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| Quote: Bullseye "Green going back on his hols does remind me a little of The Office when David Brent tells everyone they’re being made redundant but good news is that he’s been promoted.'"
I imagine the meeting went full Brent -
"Nobody is going to lose their jobs.
[Points to Rohan Smith] You’re not gunna lose your job
[Points to O’Brien] You’re not gunna lose your job
[Points to Lauaki] Y’know…
[Points to Chisholm] You’re not gunna lose your job”
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| I doubt even the stupidest person bought it though. Anyone with half a brain cell can see what is going on and where it goes from here.
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| Quote: MicktheGled "The wage bill is far bigger than the central funding?
A squad of 40 players on £30,000 is £120,000 month
Add the 24 backroom staff on £20,000 is £40,000 month.
£780,000 / 12 is only £68,000.
Where's the other £100,000 coming from?
It's mismanagement on an industrious scale.'"
I think Bradford would kill for their players to be on an average wage bill of 120K per month at the moment.
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Rank | Posts | Team |
Club Captain | 58 | No Team Selected |
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Jul 2016 | 8 years | |
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| Quote: MicktheGled "Marc Green told the players they had.'"
Do you believe the WUP is the reason why bank accounts have been frozen?
Or would the £4.5m debt in liquidation be more of a reason for frozen bank accounts.
Also can you explain why the bank never took this action for the two prior WUP notices but have now?
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Rank | Posts | Team |
Club Captain | 58 | No Team Selected |
Joined | Service | Reputation |
Jul 2016 | 8 years | |
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Jul 2017 | Jan 2017 | LINK |
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| Quote: MicktheGled "The wage bill is far bigger than the central funding?
A squad of 40 players on £30,000 is £120,000 month
Add the 24 backroom staff on £20,000 is £40,000 month.
£780,000 / 12 is only £68,000.
Where's the other £100,000 coming from?
It's mismanagement on an industrious scale.'"
That's rather simplistic. There are merchandise sales, Ticket sales, sponsorship, corporate events etc all generating income. I think however the costs you quote are possibly on the low side.
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