FORUMS > Bradford Bulls > Latest financial situation - all posts here |
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| Quote: Blotto "Back to Square one again
Not sure who that was, but I've got a feeling it was Caisley. It was rumoured that he informed Hood that should the club go into Administration he would like the Administrator to be informed that he may be interested in buying the club (while Hood was still chairman).
Not sure how this changed though when Hood departed, whether Caisley's intention / interest was passed on to Coulby and he in turn passed this to Guilfoyle.
If it was, then I think that put pays to CC taking over short term, unless he wants it for a real rock bottom price and a complete blank slate and is willing to wait due to the complete lack of interest elsewhere.
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| We will probably get one or two more "24 hour saviours" before the end of next week
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| [del[/delWe will probably get one or two more "24 hour saviours" before the end of next week
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| Quote: Blotto "We will probably get one or two more "24 hour saviours" before the end of next week'"
According to Guilfoyle the correct term is "Tyre kickers"
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| Quote: Bradford Badger "
If it was, then I think that put pays to CC taking over short term, unless he wants it for a real rock bottom price and a complete blank slate and is willing to wait due to the complete lack of interest elsewhere.'"
CC is on the inside track to be fair and must have a very fair idea of what is going on, after all he would have seen the results of Mr guilfoyle's dig into the finances and running of the club. Dunno if it's the done thing to pass on info now that the club is in admin but I suspect he has enough to make any bid, if and when, he feels it's the ideal time.
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| This comment really confuses me
"Administrators battling to save Bradford Bulls from liquidation have been left disappointed after the only expression of interest in taking on the crisis-torn club has now been withdrawn".
Is it lazy journalism or do people really not understand the principal role of the administrator is to obtain moneys on behalf of the creditors, if that is aided (second on the list) by a buyer coming in fair enough, but it smacks of emotional clap trap to me.
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| Quote: kinleycat "This comment really confuses me
"Administrators battling to save Bradford Bulls from liquidation have been left disappointed after the only expression of interest in taking on the crisis-torn club has now been withdrawn".
Is it lazy journalism or do people really not understand the principal role of the administrator is to obtain moneys on behalf of the creditors, if that is aided (second on the list) by a buyer coming in fair enough, but it smacks of emotional clap trap to me.'"
It smacks to me of an Administrator knowing that the best deal for creditors would be if he could find someone to buy the club as a going concern.
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| Well chaps and chapesses this is the real crucial week.
FWIW and I am not an expert, a couple of things will take place this week
Firstly players will get edgy and want out coupled with the fact that the administrator wants paying then some players could be lost for smaller than anticipated fees a bit like roulette.
On the otherhand a buyer or two may start lining up and will have a view on the balance sheet of the club anticipated income (or not) for the rest of theseason, 17 players off contract at the end of the season could see the club release all 17 with a buyer immediately massive reduction on the out goings trim if they can the back office and take it on as well as suplementing this seasons income buy selling players iof they have to. Its a fine line and not a good place to be having been there as a supporter.
Good luck the ride is going to pick up this week a few more twists and turns yet I think.
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| Could be an exciting week for the Wakefield fans!
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| Quote: Bully_Boxer "Could be an exciting week for the Wakefield fans!'"
The only people taking any joy from this situation will be from supporters who have been through similar events whilst being scoffed at by certain fans, some comments by Bradford fans where shameful when we where going through the same, you reap what you sow.
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| To be fair we've had some genuine support from the vast majority of RL fans. We've had some trolls and we've also had some that claim to be sympathetic but actually are quite clearly loving it. It's the latter that irritate me the most.
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| I'm half and half, if you could split Bradford in two.
I have little sympathy as it of the clubs own making.
Yes the club had an overdraft withdrawn, but that was still funding a debt, which was also funded by the RFL paying a loan to Bradford that Bradford could not afford to repay so was repaid with the ownership of the stadium lease.
But then I do have sympathy as there are those fans who go and pay their money and have turned out week after week during poor performances and good. They just want a team to support and whether its the likes of deacon, peacock et al or less well established players, they just want to go, support and watch their team play decent RL.
They were not the ones calling for Bradford to sign Harris to get one over on Leeds, they were not the one's who were asking for cut price season tickets, they are the ones who no doubt handed over £500k to the club.
So it's mixed feelings and can vary from day to day, depending whose posts I've read.
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| It's bad news for all who love league in my view, but I understand why some people have mixed views.
I don't know about the timing, but I'd have thought that the franchise system should have unearthed this before it got to this stage.
It possibly makes a mockery of the franchise system.
Irrespective of that, I really hope a way out can be found for the Bulls and their fans.
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| Quote: fez1 "It's bad news for all who love league in my view, but I understand why some people have mixed views.
I don't know about the timing, but I'd have thought that the franchise system should have unearthed this before it got to this stage.
It possibly makes a mockery of the franchise system..'"
Indeed, I understood that the RFL required an annual statement of liquidity from every club.
So either the RFL are ignoring such or some clubs are telling lies
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| Quote: bobsmyuncle "Indeed, I understood that the RFL required an annual statement of liquidity from every club.
So either the RFL are ignoring such or some clubs are telling lies'"
That is probably the problem - if you ask for statement say just after the season tickets have been collected then I am sure there would have been cash in the bank. But if you are in a situation like the Bulls seem to have been where the club was buring £100k a month then the situation can deteriorate rapidly. If the RFl were serious about monitoring clubs liquidity then they would need quarterly checks and forecasts.
Possibly more to the point in all this mess it is not clear that the club itself actually knew what was going on or where the finances were heading. If we pull through I think keeping the finances under tight control will be a must.
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