FORUMS > The Virtual Terrace > Nigel Wood and the Bulls |
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27802_1294412072.gif Oh hali hali hali hali halifax:d7dc4b20b2c2dd7b76ac6eac29d5604e_27802.gif |
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| It's also to do with the fact they spent lots of money, money they didn't have, turning themselves into an "iconic" club.
The sport then ran around to keep their licence, a system, we are repeatedly told, that persuades clubs from overspending. Remember their "B" licence? I don't know if it's ironic or just shoddy administration of the licensing system.
The sport has to rally around the next club this happens to, whatever its level, in the same way. Giving a green light for clubs to continue bad financial management! Brilliant
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//www.pngnrlbid.com
[quote="bUsTiNyAbALLs":9q9d2t35]Do not converse with me you filthy minded deviant.[/quote:9q9d2t35]
[quote="vastman":9q9d2t35]My rage isn't impotent luv, I'm frothing at the mouth actually.[/quote:9q9d2t35]: |
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| Quote: gutterfax "You really can't handle a bit of debate can you? If it's not name calling it's pages and pages of utter unintelligible tripe....you are proof perfect of the old warning.
[iNever argue with an idiot! If you do, he'll drag you down to his level and beat you with experience![/i'"
You aren't trying to have a debate, you are trolling. Your ridiculous contradiction simply highlights it. You aren't going to fool anyone by pretending to be the victim now Mr Busted Flush
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Rank | Posts | Team |
Player Coach | 22777 | |
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May 2006 | 18 years | |
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//www.pngnrlbid.com
[quote="bUsTiNyAbALLs":9q9d2t35]Do not converse with me you filthy minded deviant.[/quote:9q9d2t35]
[quote="vastman":9q9d2t35]My rage isn't impotent luv, I'm frothing at the mouth actually.[/quote:9q9d2t35]: |
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| Quote: freddies wig "It's also to do with the fact they spent lots of money, money they didn't have, turning themselves into an "iconic" club.
The sport then ran around to keep their licence, a system, we are repeatedly told, that persuades clubs from overspending. Remember their "B" licence? I don't know if it's ironic or just shoddy administration of the licensing system.
The sport has to rally around the next club this happens to, whatever its level, in the same way. Giving a green light for clubs to continue bad financial management! Brilliant'"
The problem is that when circumstances aren't the same, the response can't be the same and nor should we expect it to be.
For example Wakefield have no assets to secure against, the have no stadium or owned facilities with value to act as collateral. Bradford did. Do the RFL need to extend a loan to Wakefield as the did to Bradford to be treating them fairly?
And I think this green light o bad management issue is a red herring. No one wants to be losing money, by the time we reach this point the owners have already lost money and are already likely to be gone or going. This is about how we recover clubs for the game, those who got them into that position will lose out.
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Rank | Posts | Team |
Player Coach | 22777 | |
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//www.pngnrlbid.com
[quote="bUsTiNyAbALLs":9q9d2t35]Do not converse with me you filthy minded deviant.[/quote:9q9d2t35]
[quote="vastman":9q9d2t35]My rage isn't impotent luv, I'm frothing at the mouth actually.[/quote:9q9d2t35]: |
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| Quote: DemonUK "Didn't OK take out a loan of £300k from the local council within months of starting up again..hope they didn't forget to put that in the books.
So according to Smokey the loan was paid back plus a million pounds (what was that? A donation?). If this was the case and all this money went to the RFL why isn't the lease back with Bradford'"
It was paid back through the lease. The million plus pound was taken from the bulls share of SLE and sky funding. That money was given to other SL clubs.
A £700k loan secured against the lease on Odsal has cost Bradford over £1m in sky funding and the lease. This according to some is a sweetheart deal for Bradford.
To those who think this was a good deal, if you want to send me a PM I have some really attractive financial products to talk to you about.
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Player Coach | 10446 | |
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Mar 2006 | 19 years | |
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23655_1294867330.png For the latest Giants News on Twitter first: [url=http://www.twitter.com/GiantsRLFans:29oobw8d]Click Here Now![/url:29oobw8d]
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| The Licensing report for the Bulls read:
Bradford Bulls provided a solid submission detailing a strategy, tactical plan and targets to achieve improved commercial and financial performance. The club has a solid fan base, a strong brand and good operating structure/governance in place. However the club faces some challenges. These include the local economic environment, poor recent on-field performance and an ageing facility. The application acknowledges these challenges; however the club believes that its business plan for the next three years will move it to a position of sustainability with good prospects for further growth. The club has invested heavily in its youth performance programme in recent years, and it is expected that the club will soon start to reap the rewards of this investment with improved performances and increased numbers of quality club-trained players.
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68505_1605979550.jpg :d7dc4b20b2c2dd7b76ac6eac29d5604e_68505.jpg |
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| Quote: BartonFlyer "Yet again a potential misreading!
The article in The News & Star does state that the winding up order was for £55,000 to HMRC but also says
So, what you're saying is that once again I've vastly under estimated the level of support the RFL have given to another club? Gee... How could I have made such a mistake? It seems my point about the Bulls not being alone in receiving aid from the RFL or some how getting preferential treatment just keeps getting stronger.
I'd say Rochdale have a lesser profile than Bradford, yet they seemed to have been given a comparable level of support.
As for the so called clandestine nature of the support Bradford have gotten, it seems many on here feel that the RFL should run all their business dealings past them first for vetting. But in the real world, businesses tend to keep their dealings to themselves. And as everyone seems to know the ins and outs of things at Bradford, it's hardly an Area 51 style conspiracy is it?
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29100_1291104497.jpg 1/10:d7dc4b20b2c2dd7b76ac6eac29d5604e_29100.jpg |
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| Quote: SmokeyTA "For example Wakefield have no assets to secure against, the have no stadium or owned facilities with value to act as collateral. Bradford did. Do the RFL need to extend a loan to Wakefield as the did to Bradford to be treating them fairly?'"
Am I right in thinking the initial £700k was secured against nothing, and only when the RFL realised they were unlikely to see that again another £500k was 'payed' on top of the previous loan to prevent predatory developers getting their hands on the 'iconic' Odsal.
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| Quote: Wadski "The Licensing report for the Bulls read
Indeed. In the last 3 years the RFL senior officials have given Bulls owners and their financial plans the green light on numerous occasions and yet here we are again firefighting. Yet it appears no one at the RFL is accountable for this shambles.
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| Quote: roofaldo2 "So, what you're saying is that once again I've vastly under estimated the level of support the RFL have given to another club? Gee... How could I have made such a mistake? It seems my point about the Bulls not being alone in receiving aid from the RFL or some how getting preferential treatment just keeps getting stronger.
I'd say Rochdale have a lesser profile than Bradford, yet they seemed to have been given a comparable level of support.
As for the so called clandestine nature of the support Bradford have gotten, it seems many on here feel that the RFL should run all their business dealings past them first for vetting. But in the real world, businesses tend to keep their dealings to themselves. And as everyone seems to know the ins and outs of things at Bradford, it's hardly an Area 51 style conspiracy is it?'"
1. There is no indication of the precise amount of support received by Rochdale. It is known that many other struggling clubs in the same division as Rochdale received nothing.
2. no one has said the Bulls are the only club to get assistance. However the RFL are selective in their provision of assistance and the purchase of the Odsal lease dwarfs aid provided elsewhere. AND despite this purchase we have had administration / an owner who came, went and has now come back + directors who came went..and have now come back. A farce.
3. The RFL executive are accountable to the RFL Council and they ought to be taking actions with their consent and support rather than doing deals in secret. The RFL is a governing body that should not be going behind the back of its membership.
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953.jpg 2015 - major missed opportunity, 2016 - stronger teams = harder task (no problem there then), 2017 - OMG What now!!!:953.jpg |
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| Quote: SmokeyTA "It was paid back through the lease. The million plus pound was taken from the bulls share of SLE and sky funding. That money was given to other SL clubs.
A £700k loan secured against the lease on Odsal has cost Bradford over £1m in sky funding and the lease. This according to some is a sweetheart deal for Bradford.
To those who think this was a good deal, if you want to send me a PM I have some really attractive financial products to talk to you about.'"
More ballcocks I think, what has 300k the council and the lease held by the RFL got in common....nothing. The loan was taken out after OK had taken over and don't the RFL hold the lease from earlier, so how can the lease pay off the loan???
650k was withheld I thought not 1 million
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Club Owner | 1265 | No Team Selected |
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Apr 2004 | 21 years | |
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| Quote: SmokeyTA "The problem is that when circumstances aren't the same, the response can't be the same and nor should we expect it to be.
For example Wakefield have no assets to secure against, the have no stadium or owned facilities with value to act as collateral. Bradford did..'"
So what assets did the Bulls have? The lease? Worth diddly squat. If Bradford disappeared how would the RFL recover their outlay on it?
Try getting a loan, from say a bank, using the lease on a house you're renting as collateral.......
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86.jpg Let all the doubters keep doubting and those who believe keep believing.
We’re only interested in those in the bubble. Anyone who wants to come in the bubble, you can come in.
But you’ve got to keep believing.:86.jpg |
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| Quote: Mr Dog "So what assets did the Bulls have? The lease? Worth diddly squat. If Bradford disappeared how would the RFL recover their outlay on it?
Try getting a loan, from say a bank, using the lease on a house you're renting as collateral.......'" You know the difference between a bog-standard landlord lease and a long lease don't you? I'm sure there are plenty of people posting on here who have mortgages on properties, usually flats, on long leasehold.
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41073_1558618854.jpg It's Official - "Homer Simpson is a Leeds Fan":d7dc4b20b2c2dd7b76ac6eac29d5604e_41073.jpg |
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| if they survive they will be in the bottom 2
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22/03/2013
Get LEIGH outta wigan: |
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| Quote: Mr Dog "So what assets did the Bulls have? The lease? Worth diddly squat. If Bradford disappeared how would the RFL recover their outlay on it?
Try getting a loan, from say a bank, using the lease on a house you're renting as collateral.......'"
If it was me,i'd offer it back to the council
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9857_1341488583.jpg WEST COAST PIRATES
NRL expansion? Sometime soon, maybe......:d7dc4b20b2c2dd7b76ac6eac29d5604e_9857.jpg |
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| well it would mean if the Bulls went belly up and the ground was no longer needed for RL the council could develop the land, and the RFL would need to be paid out or get a slice of the development profits.
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