FORUMS > Bradford Bulls > Going, Going, Gone. |
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| Quote: staffbull1973 "What's happening a week on Fri?'"
Rugby League is happening.
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International Chairman | 14145 | No Team Selected |
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Dec 2001 | 23 years | |
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Aug 2020 | Oct 2019 | LINK |
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| And steps up to a whole new level...
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Player Coach | 8024 | No Team Selected |
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Jan 2008 | 17 years | |
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Aug 2024 | Jul 2024 | LINK |
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| Quote: Adeybull "And steps up to a whole new level...'"
But I'm missing Salford vs Bradford and no doubt also missing out on our first historic victory at the City Of Salford Stadium.
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International Board Member | 242 | No Team Selected |
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Feb 2003 | 22 years | |
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Nov 2020 | Oct 2020 | LINK |
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| Firstly well done of the fantastic achievement in raising the £500,000 to stay afloat. But am I missing something? From this it appears that this money means you are out of trouble and debt free?
I understood the figure needed to be in the clear was £1,000,000 and a further £500,000 from investment was still required to cover debts. Has this now changed and this extra money isn't required or is it the fact that with cheap season ticket this amount is require for running costs to see the season out?
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International Board Member | 6038 | No Team Selected |
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Apr 2002 | 22 years | |
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Mar 2017 | Feb 2017 | LINK |
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| Quote: Adeybull "Its certainly not a transparent process at all - far from it. Especially with prepacks. An administrator will always be able to justify his actions in some way. But that wasn't my point. What I was getting at is that once a business is in administration, there is virtually no way for Joe Public to get to know whether if COULD have been saved without resorting to administration. All we'd have is one camp assuring us that administration was the only option, and the other likely saying the opposite - and adding that it was the first party's intervention that prevented the second party from securing the investment it was pursuing.
And we'll never know the truth of it. But, unto the victor the spoils, and history is usually written by the victors?'"
I appreciate we'll never know what opportunities have been missed during the saga. I just thought some basic financial information (the size of the debt, how much is cancelled, the pence in the pound paid out to creditors etc) would be made public? Enough information to form an opinion whether Administration was necessary.
At the very least, as a taxpayer, I would feel entitled to know how much HMRC ends up writing off (if we do go into Administration)!
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Rank | Posts | Team |
Player Coach | 1301 | No Team Selected |
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Jan 2009 | 16 years | |
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Aug 2020 | Aug 2020 | LINK |
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| Quote: Bradford Badger "Couldn't agree more with the above.
Some highlights and low lights below.....
Hood took the role of Chairman on when nobody else would.
For long periods managed to keep the club a float and cut our cloth so that we are at least still here today.
Asking Gary Hetherington for the 2 points that were "stolen" from us at Millenium tragic against the Rhinos with "that" try from Jordan Tansey.
Brought back 10k crowds to Odsal with the pledge scheme.
Kept Steve McNamara too long.
Brough Mick Potter back to the club - something he will not now have the recognition for should we see the team bear any fruit.
Signed "The Beaver" Steve Menzies
Released / allowed "The Beaver" Steve Menzies to leave
Signed "he who shall not be named" who basically wrecked all of last season.
Sold the lease to the RFL, which at the time seemed like a good idea as we pay less in rent than we do on maintenance and rent to the council.
Didn't pay HMRC on time (appears more than once or twice) which has resulted in the mass panic over recent months.
Sold Andy Lynch for a wedge of cash - more than he was possibly worth given his age.
There will be lots more!'"
Andy has been worth every penny so far, a great leader but if the cash kept you from going into administration then winners all round.
I hope the times improve for you all now.
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Player Coach | 474 | |
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Aug 2009 | 15 years | |
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Mar 2020 | Mar 2020 | LINK |
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| I think when we look back with hindsight over the next few months we'll all see that the regime that's just left did nothing for the club.
All they've ever done is talk the club down and our financial woes up, no wonder nobody wanted to invest! And it's a poor form of masses control, similar to our current governments tactics.
We had a dour regime that took us down to their level, this is sport for christs sake not geopolitics.
Let the good times re-commence, and lets start talking our wonderful club up!
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Player Coach | 4035 | |
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Dec 2006 | 18 years | |
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Sep 2024 | Jan 2023 | LINK |
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| rlfirst meeting of new powerbaserl
The wheel turns. One of the more positive paragraphs from the piece from Potter;
[i"It’s beginning to move forward so I think the wheel is starting to turn again.
“It froze for a month and now we’re beginning to get those cogs working again.
“Hopefully we can now start to re-sign the players that we want to retain and potentially look in the market as well"[/i
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International Star | 312 | No Team Selected |
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Sep 2010 | 14 years | |
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Mar 2021 | Mar 2020 | LINK |
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| The worry that I have is in the wording of the auditor being present. Are we being lined up for the old change of a government line. Quote "Now we have seen the books, its far worse than we thought" From there on - Administration.
Hope I am not seeing shadows in every corner, but you do worry.
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Player Coach | 1323 | No Team Selected |
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Feb 2007 | 18 years | |
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Jul 2024 | Mar 2022 | LINK |
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| Why does the meeting need to be in Leeds?
I know the answer to that, but I'd much rather they were in Bradford.
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Rank | Posts | Team |
International Chairman | 14145 | No Team Selected |
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Dec 2001 | 23 years | |
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Aug 2020 | Oct 2019 | LINK |
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| Quote: Cibaman "I appreciate we'll never know what opportunities have been missed during the saga. I just thought some basic financial information (the size of the debt, how much is cancelled, the pence in the pound paid out to creditors etc) would be made public? Enough information to form an opinion whether Administration was necessary.
At the very least, as a taxpayer, I would feel entitled to know how much HMRC ends up writing off (if we do go into Administration)!'"
All that much will be visibl;e - at least to the creditors who receive the reports from the Administrator.
But its all after the event. For example, there are lots of examples of liabilities that crystalise only on insolvency (just one example - the liability to repay the council up to 2019). And assets get written down to realisable value - usually far less than book value. That means that the financial position you see in the Statement of Affairs is always far worse than it appeared on a going concern basis.
And the uninformed can so often be mislead by the disingenuous, using those numbers, and unwittingly aided by journalists who know little about financials,to believe the financial position was far worse than it really was. Trying to explain the difference between drawing up a set of financials on a "going concern" basis and a "realisation" basis is not that easy, in the face of sensationalist headlines.
My concern - and unfortunately it is also my expectation unless there is genuinely a fair pot of new money out there and/or some of the new grouping have consciences regarding the fans who raised the £1/2m (are you listening, Mr Agar?) - is that we'll see O'Haras or whoever Mr Caisley brings in to "audit" the numbers "concluding" that administration is the only option. And then the Statement of Affairs, prepared on a realisation basis, will of course show significant net liabilities, much higher than the last accounts (which disclosed net assets) mainly because of the different basis of preparation (as is always the case in an insolvency!!!). And then some of the statement of affairs figures will be made public, and used to "prove" what a mess the last board left the comapny in and how they did not level with the fans - when the SoA may well show no such thing! But probably only the accountants, and then probably only those who have experience in insolvency (like me) will realise that.
I really hope I am wrong, and that - maybe since there are other shareholders involved (remember, despite how it might come across Mr Coulby has very few shares now, having sold most of his to Bennett) - they conclude - for whatever reasons - that declaring insolvency and going for administration is not the way forward. The whole reason I backed the pledge, and have been seriously concerned about the return of Mr Caisley, was because of a desperate wish to see administration avoided.
I also would very much love to know, definitively, whether Mr Caisley's intervention on the Thursday before the pledge deadline - coming as it did the day after a sudden major pick-up in pledges the previous day - was a deliberate attempt to derail the pledge, and the fundraising efforts of the previous board (which I believe were real and genuine, although I have no idea how realistic) just a co-incidence of timing. But I suspect only Mr Caisley could answer that.
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Rank | Posts | Team |
International Chairman | 14145 | No Team Selected |
Joined | Service | Reputation |
Dec 2001 | 23 years | |
Online | Last Post | Last Page |
Aug 2020 | Oct 2019 | LINK |
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| Quote: BeechwoodBull "The worry that I have is in the wording of the auditor being present. Are we being lined up for the old change of a government line. Quote "Now we have seen the books, its far worse than we thought" From there on - Administration.
Hope I am not seeing shadows in every corner, but you do worry.'"
That is my fear too.
Meeting maybe at Caisley's office? Or that of the "auditor"? And wonder who the "auditor" is? Or are we really talking insolvency practitioner?
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Player Coach | 4540 | |
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Dec 2005 | 19 years | |
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Oct 2024 | Aug 2024 | LINK |
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| I wonder why the meeting isn't taking place at Odsal.
You'd have thought the Coral Stand would be the obvious venue?
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Rank | Posts | Team |
International Chairman | 14145 | No Team Selected |
Joined | Service | Reputation |
Dec 2001 | 23 years | |
Online | Last Post | Last Page |
Aug 2020 | Oct 2019 | LINK |
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| Quote: paulwalker71 "I wonder why the meeting isn't taking place at Odsal.
You'd have thought the Coral Stand would be the obvious venue?'"
I can think of any number of reasons, tbh. I'd guess it was happening at either the offices of whatever insolvency practitioners or accountants are advising Caisley, or maybe at his firm's offices. Or could be at Rot Hall, since the RFL will doubtless play a significant part in what comes next? Holding offsite anyway ensures some degree of confidentiality, for one thing, maybe including the identities of some of the participants? In their situation, I would hold it offsite. But, again, I merely speculate and there could easily be other reasons.
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Moderator | 10969 | |
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Mar 2002 | 23 years | |
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Jan 2023 | Jun 2022 | LINK |
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1271.jpg Whenever you find yourself on the side of the majority, it is time to pause and reflect.
Mark Twain
Build Bridges NOT Walls:1271.jpg |
Moderator
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| Quote: Stul "Why does the meeting need to be in Leeds?
I know the answer to that, but I'd much rather they were in Bradford.'"
I'd guess the meeting will take place at Walker Morris' capacious(?) premises, which just happen to be in leeds.
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