FORUMS > Bradford Bulls > Latest financial situation - all posts here |
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| Quote: paulwalker71 "I wondered that. I'm amazed that the decision to let Bateman just clear off to Australia right in the crucial part of the season hasn't drawn more ire. If we're going to get docked 6 points, then it hardly seems to matter as we'd have zero chance of reaching the playoffs anyway.
On the substantive point, it seems we now have a 'put up or shut up' scenario. If any these 'investors' or 'benefactors' or whatever the hell they are are genuine and serious, then they now need to get their cheque books out in the next two weeks.
I wonder what the realistic chances of that happening actually are?
Bateman was told he could tour at the start of the season if selected.
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Club Coach | 9154 | No Team Selected |
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| To be fair to the lad, I don't think we should hold him back if he has the opportunity to tour Australia.
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| P&a don't get to this stage unless there is a pay day. And I do have knowledge of them before anyone asks.
Frank whitcombe where are you now?
Fa and gb were right all along!
Sad day for the club and all fans.
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International Chairman | 14145 | No Team Selected |
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| Quote: bewareshadows "The thing with admin is that it is no longer in Caisley's hands. If they go into admin the creditors take control and they could easily liquidate rather than take a cheap offer. Suddenly all players are for sale and it's the creditors interests not the clubs interest that are key.'"
Sorry but you seem not to understand the nature and purposes of administration.
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| Quote: Adeybull "Sorry but you seem not to understand the nature and purposes of administration.'"
Are you saying that administration is not run for the benefit of the creditors, whether that ends up as a CVA, selling as a going concern or liquidating it?
I always thought that was the way it went. Therefore Caisley buying the club for £1 would not be correct unless the creditors accept that it's the best offer.
Maybe I'm wrong and administration is run for the benefit of the shareholders, I'm willing to accept being wrong, but I've not seen it anywhere that administration is used for that purpose.
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| Adey is saying its to buy time which is sensible. If the current board can convince the administrators that there are investors ready to put money in they will be appointed but will do nothing to harm the club. As far Caisley getting the club for £1 I seriously doubt this as you still have to pay a minimum percentage of your debt to exit administration.
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| That was my point, I was not suggesting the club would be liquidated, but that Caisley could not just put it into admin and buy it for £1 as though it was all his choice.
Sure it can be used to buy time, just like a CVA could be the outcome. But admin to me does not put all the cards in Caisleys hands, where as some seam to think it's a way of him getting it on the cheap. He may get the club on the cheap, but not for £1 surely.
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Club Owner | 1674 | No Team Selected |
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| To say im totally ed off right now is a understatement, but it's not as though it wasn't comming!!!
So is it going to be a Friday Monday with caisley emerging victorious with a 100% holding of the club? Or is there any suger daddy's in the wings to keep caisleys grubby little paws of our club!
Plus if there is investers ready to put money into our club, why wouldn't they just wait for admin and just buy the club?
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| The £1 thing is something that has happened in sport, mainly football, several times.
A club goes into administration and the administrators sell the club to a "new company" which usually sees a significant portion of the clubs debt wiped out. I believe it's called something like a "pre-pack buy back" or something along those lines
Bates did it at Chelsea and he did it at Leeds. So it's not too much of a leap to imagine a similar scenario playing out at Odsal
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| unfortunatley its time for Bradford to realise that overspending and lying about your finances to just about everyone catches up with you eventually.
Feel sorry for the true Northern fans, as their club has been destroyed by miss management.
Admin is the only way forward - more lies about a rich investor help noone.
bite the bullet and try to start again from scratch.
i hope you get the boot out of SL league and have your licence removed - but it will not happen.
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| Quote: Roofaldo "
Bates did it at Chelsea and he did it at Leeds. So it's not too much of a leap to imagine a similar scenario playing out at Odsal'"
What bates has done at leeds
is far more dodgier than just buy the club for a quid, he elegedly owns 3 offshore companies that owned different parts of the club, these companies apparently had 7 million invested in lufc, these companies wavered this money only if master bates became chairmen! He did then mysteriously that 7 million has been syphoned away, far more sinister, elegedly!!!
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Club Owner | 1674 | No Team Selected |
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| Quote: SIMMSFAXTEDDY "unfortunatley its time for Bradford to realise that overspending and lying about your finances to just about everyone catches up with you eventually.
Feel sorry for the true Northern fans, as their club has been destroyed by miss management.
Admin is the only way forward - more lies about a rich investor help noone.
bite the bullet and try to start again from scratch.
i hope you get the boot out of SL league and have your licence removed - but it will not happen.'"
You do know it's illegal to troll now?
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| Is this the image rights thing coming back to bite or is it similar to Wakefield where we mised/delayed a payment to HMRC and they took us on in the wake of other sporting clubs not paying HMRC.
If you have missed an instalment payment HMRC are likely to be coming for the lot and will not negotiate. Not sure if this is the case but a skeleton seems to have jumped out of the closet if not or you afe being strung along being drip fed bad news. The club will fold and someone will get it for a song, the issue is who will that person be someone linked now or a rtotal fresh person.
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| Quote: Duckman "Well, not connected to this board, I have been told different things about the Bulls predicament by genuine people I know and trust on the same subjects, with both parties certain they knew the truth of the particular matter under discussion...but both have different things incorrect or at least not fully accurate, and we can't square the circles.
I've stopped beliving anything I'm told or read about the Bulls, from anyone, and so as a consquence I've also stopped commenting as there seems little point when I don't think anyone on here knows anywhere near the whole story. I await the endgame and might help pick over the ashes (or hopefully cheer the phoenix)
At the start of the season someone I know who is close to the club (has worked for them on a freelance basis for many years) gave me his understanding of various issues including the ground sale. This bloke is very genuine, I'm 100% sure he was telling me what he believed to be the truth. Turned out to be complete rubbish. Bumped into him recently, he was very sheepish and decidedly miffed at being misled.
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