FORUMS > The Virtual Terrace > Bulls under new ownership |
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Club Owner | 33944 | No Team Selected |
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Mar 2004 | 21 years | |
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| Quote: Ferocious Aardvark "You actually took the time to point out that if a buyer pays more money to a seller, then the seller has got more money than if less was paid? In that respect you are clearly right, but it's not earth-shattering insight.
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Not neccesarily in this instant , the buyer [ Mr Khan ] pays the seller [ Administrator ] 150 K , the seller keeps all the money
If the buyer [ Mr Khan ] pays the seller [ Administrator ] 300 K , the seller only keeps 170 K , the other 130 K goes to the unfortunate creditors
In the current situation one of the creditors [ RFL ] have managed to assume almost a ' prefferential creditors ' situation
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Rank | Posts | Team |
Club Owner | 33944 | No Team Selected |
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Mar 2004 | 21 years | |
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Mar 2016 | Mar 2016 | LINK |
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| Quote: Kosh "Which financial interest might that be?
Not if the discussion is what financial distributions will be foregone [iif[/i the Bulls stay in SL.'"
The repayment of ' advanced ' monies , not to mention the likelyhood of recieving a ' reasonable market rental ' for Odsal
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Rank | Posts | Team |
Club Owner | 33944 | No Team Selected |
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Mar 2004 | 21 years | |
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Mar 2016 | Mar 2016 | LINK |
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| Quote: Ferocious Aardvark "
Exactly how much has the administrator paid the RFL and when?
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I havent suggested they have done so ?
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Rank | Posts | Team |
Club Owner | 33944 | No Team Selected |
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Mar 2004 | 21 years | |
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Mar 2016 | Mar 2016 | LINK |
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| Quote: Ferocious Aardvark "
I'm a mere aardvark, but clearly one with a better grasp of English than you. Is English your first language?'"
No , Leyth is my 1 st language , I would suggest Bulls**t is yours , You being a lawyer
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Player Coach | 1030 | No Team Selected |
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May 2006 | 19 years | |
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| Quote: Kosh "Which financial interest might that be?
Not if the discussion is what financial distributions will be foregone [iif[/i the Bulls stay in SL.'"
Does your 2nd point not answer the 1st? If the financial distribution to a Bradford club expelled from SL is less than to one that is retained does it not follow that the return to the RFL will be less and/or slower if they do not retain the licence?
On the 2nd point in isolation the conditional nature of the offer becomes the price.
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International Chairman | 28357 | |
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Feb 2002 | 23 years | |
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| Quote: Starbug "
Not neccesarily in this instant , the buyer [ Mr Khan ] pays the seller [ Administrator ] 150 K , the seller keeps all the money
If the buyer [ Mr Khan ] pays the seller [ Administrator ] 300 K , the seller only keeps 170 K , the other 130 K goes to the unfortunate creditors '"
Again, you don't need to give an example to demonstrate that if more money is paid to the administrator, then the administrator has more money. I think most people could work that out. But if it helps you to understand it to write this point down, then fair enough I suppose.
Quote: Starbug "In the current situation one of the creditors [ RFL ] have managed to assume almost a ' prefferential creditors ' situation '"
Wow. That is an extremely serious insinuation. I hope you can back it up if their lawyers come calling. Personally I think it is utter bull but you're entitled to your views, even if they risk being very expensive ones.
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Club Coach | 803 | No Team Selected |
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Nov 2004 | 20 years | |
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Sep 2014 | Feb 2014 | LINK |
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| In the current situation one of the creditors [ RFL ] have managed to assume almost a ' prefferential creditors ' situation'" ]
Wow. That is an extremely serious insinuation. I hope you can back it up if their lawyers come calling. Personally I think it is utter bull but you're entitled to your views, even if they risk being very expensive ones.'"]
I think the word [iALMOST[/i and the use of speech marks to indicate a degree of irony would be adequate defence
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Club Owner | 33944 | No Team Selected |
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Mar 2004 | 21 years | |
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Mar 2016 | Mar 2016 | LINK |
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| Quote: Toadstool "In the current situation one of the creditors [ RFL ] have managed to assume almost a ' prefferential creditors ' situation'"
Wow. That is an extremely serious insinuation. I hope you can back it up if their lawyers come calling. Personally I think it is utter bull but you're entitled to your views, even if they risk being very expensive ones.'" ]
I think the word [iALMOST[/i and the use of speech marks to indicate a degree of irony would be adequate defence
While I dont admit to being the cleverest person on the planet ( that would probably be a lawyer ) neither am I completely stupid
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International Chairman | 28357 | |
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| So you make no suggestion at all that the RFL have managed to assume almost preferential creditors" status. You intended to suggest no such thing and your quoted post is therefore meaningless and can be ignored.
Glad we've cleared that up.
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International Chairman | 28357 | |
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Feb 2002 | 23 years | |
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| Quote: Toadstool "
I think the word [iALMOST[/i and the use of speech marks to indicate a degree of irony would be adequate defence
Good job you aren't charging for your thoughts, then!
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Moderator | 36786 | |
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Jul 2003 | 21 years | |
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| Quote: Starbug "The repayment of ' advanced ' monies , not to mention the likelyhood of recieving a ' reasonable market rental ' for Odsal'"
The 'advanced monies' will be repaid whatever happens. Likewise the rent. An owner who's talking about splurging £6M on Odsal is hardly likely to be able to plead poverty when it comes to repaying owed monies or rent on the ground.
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Rank | Posts | Team |
Moderator | 36786 | |
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Jul 2003 | 21 years | |
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Aug 2024 | May 2023 | LINK |
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| Quote: Wembley '83 "Does your 2nd point not answer the 1st? If the financial distribution to a Bradford club expelled from SL is less than to one that is retained does it not follow that the return to the RFL will be less and/or slower if they do not retain the licence?
On the 2nd point in isolation the conditional nature of the offer becomes the price.'"
See my response to Starbug. Bradford now have a (reasonably) wealthy owner so have no excuse not to repay any owed monies regardless of which league they end up playing in.
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Rank | Posts | Team |
Player Coach | 9554 | |
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Jun 2005 | 19 years | |
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| Quote: Kosh "The 'advanced monies' will be repaid whatever happens. Likewise the rent. An owner who's talking about splurging £6M on Odsal is hardly likely to be able to plead poverty when it comes to repaying owed monies or rent on the ground.'"
Monies advanced from this years sky amount won't need repaying anyway. Only any advances made against next years central funding would need repaying ( probably in the form of a reduced central funding amount should we remain in SL).
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Rank | Posts | Team |
Player Coach | 1030 | No Team Selected |
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May 2006 | 19 years | |
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Jan 2016 | Jan 2016 | LINK |
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| Quote: Kosh "See my response to Starbug. Bradford now have a (reasonably) wealthy owner so have no excuse not to repay any owed monies regardless of which league they end up playing in.'"
Really? All the reported £1.5m total debt or just the money owed to the rfl? If the intention is to repay the full £1.5m then I applaud them. If this sum had to be accrued from central distributions due to a championship club my understanding is that it would take at least 20 years!!
If you are, as i suspect to be the case, talking purely about repaying the RFL then firstly I question the morality of such an arrangement but also must go back to the first point i made in response to Mr Aardvark. This is not the same as increasing the purchase price as the return to creditors is very different.
Even if the agreement is to repay, via deduction of central funds, in full regardless of which league the bulls are in the rfl still have a financial intetest in the decision. It determines how long they have to wait for their money.
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Rank | Posts | Team |
Player Coach | 1030 | No Team Selected |
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May 2006 | 19 years | |
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Jan 2016 | Jan 2016 | LINK |
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| Quote: mat "Monies advanced from this years sky amount won't need repaying anyway. Only any advances made against next years central funding would need repaying ( probably in the form of a reduced central funding amount should we remain in SL).'"
In which case the body charged with deciding whether Bradford recieve next years SL funding would also be one of, possibly the only, benificiary of any deductions from it. Sounds to me like a textbook case of conflict of interest.
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