Are you being deliberately thick?

if you need bailing out, you have bills to pay that you are unable to pay. So you spend the bailout money.

If you do not need bailing out, you retain the cash in the business for when you may need it. Which might be for investment for the future, even.

The bulls have said the cash will be retained in the business and not spent. And especially not spent on players, they said.

Is there any part of that that is unclear?

Yes, lots of still unanswered questions. For example, if the Bulls didn't need the money why didn't they 'sell' the lease to the RFL for a couple of quid rather than for a 'seven figure' sum?

Because that would not have been a commercial transaction? And open to attack by all and sundry?

Bit like a bailout would be?

Depends on the terms of the "bail-out". A refinancing can be an entirely proper transaction, if carried out in good faith for the benefit of the company concerned.

You're spending a lot of time on the issue and thanks for your efforts in attempting to shed some light on this mess, but can you please clarify your comments about predators getting control of the club for next to nothing. Why would anyone sell out to the predators for next to nothing, it makes no sense morally or commercially? If they loved the club they wouldn't sell and if they didn't care about the club presumably they'd want to get a return on their investment when selling to the predators. We are still a very long way from understanding the circumstances behind this deal.

Mess? Not from where I am sitting.

(I wonder how many times I have said the next bit?)

Because the Bulls would have to move out of Odsal to have a long-term future, following the collapse of the OSV project through lack of funding. The directors (if I understand it correctly) dared not gamble on staying put, because a large unexpected bill could finish the club. Because, while they are adamant there was no requirement for immediate funding, a large cost could arise at any time and the club was living hand to mouth with no reserves.

But, in the present economic climate, the only option that appeared to be available was to move in at Valley Parade. But the only option for that that seemed to be on the table was to allow the club to be acquired by a predator, one of whom at least made it pretty clear they only wanted Odsal and saw it as doing the Bulls a favour. They could see the Bulls dilemma, and sought to take advantage of it.

Had there been a sugar daddy on the horizon, no problem. Had the previous Bradford City rescue fiasco not put paid forever to the hopes of a retail component at Odsal, probably no problem. Don't even get me started on just how badly the Bulls were shafted by the council then.

But no such hopes. So the board - and the supportive shareholders, who were most of the big ones - were looking at a continuing grind into mediocrity with little prospect of a happy ending.

What was the open market value of the club? To a third party looking at a commercial proposition? Like most RL clubs, zero. In the short term, you are looking at putting money IN not at getting a return from whatever you paid for the shares. Why would a predator offer money for the shares, knowing that there appeared to be no-one else seemingly prepared to buy them (or that the main shareholders would sell to) but that the shareholders would probably have to sell to preserve the club's long-term future?

But Bulls were in a unique situation - both as regards the threats and as regards the opportunities. And the solution that has been achieved reflects both, as far as I can see.

At the end of the day, what's the problem?

The RFL have committed THEIR money, they've not stolen it from any other club or individual supporters. The other clubs directors don't appear to have a problem with the arrangement. The only people who do seem to have a problem are the usual chippy posters on here, who would dearly love to see the clock turned back and watch Frank Machin running out at Belle Vue in all its black & white glory.

Some of you need to get over yourselves.

/rolfharris

Can you tell what it is yet?

/rolfharris

Is it an idiotic troll?

Mmmmmmmm

So they sold something to the RFL in case they needed the money to pay for something that might not need paying and put the money into the club cos it has no money. Very smart.

A novel way for the RFL to avoid the embarrassment of giving a licence to a club that has been or is about to go into administration...........

Congratulations!!!! You're the 1 millionth person to purposefully ignore the actual facts and make up some conspiracy theory

Chomp!

T!t

When precisely has the club been in administration?

If you want a precedent for the RFL giving a licence to a club that has just been in administration, look no further than Wakefield.

Prize Pìllock.

Mmmmmmmm..... The Bulls (so you have stated earlier) paid Bradford Council a 'peppercorn' rent so therefore the lease is only worth a few peppercorns. So why pay a 7 figure sum for it?

Back to school tomorrow adey lad eh? First lesson reading and comprehension. Where PRECISELY do I say the bulls have been in administration? Nah, I didn't. Pillock

Keep chewing the bone eh? Your going round in circles to the point of wetting yourself is keeping me most amused!

Learn to read, won't look a tit then!

I meant the embarrassment the RFLP should have suffered over wakey and crusaders, but if you have to explain it ..,....

So you can then rent in back and charge a six figure commercial rent every year. A long lease on a peppercorn rent is tantamount to a freehold for most practical purposes. You DID understand that the RFL are renting the ground back to the Bulls? On what is essentially a sale and leaseback arrangement? After all, it has only been said about a hundred times.

Now was there anything else about commercial property deals that I can educate you about?

Methinks it is YOU who need to learn how to read. And it is YOU to whom it needs to be explained.

And you who look to the whole world to be a tìt.

After all, only a total and utter tìt would state something stupid, then try and ridicule his opposite for pointing out his stupidity, then realise in fact his opposite was correct and he HAD stated something stupid, and try and get out of it by saying what he says he REALLY meant as if it was the other one's fault not to have understood that what he SAID was not at all what he meant. And make himself look an even bigger tìt in so doing.

But I guess we have to make allowances for him being bitter, twisted - and stupid. Just like old times with our friends from down the road, in fact. His real issue of course is that the RFL told his club their SL application did not cut it.

Quote me two things:

1. Where I said bulls were in administration
2. Where I said anything has anything to do with Halifax?

Keep chasing that tail. Bull power

To add to all of this; There's a fax fan on twitter saying that a member of the Halifax board told him that Halifax were put on notice 3 weeks ago that they would be entering super league due to a big name super league club going into Administration.



Oh dear, the conspiracy theorists aren't half enjoying themselves..

Still don't follow why you'd sell shares for a pittance when they help a predator unlock the land value of Odsal, which would in strategic and possibly cash terms be worth a lot to the predator.

I'm also still struggling with the proposition that the shareholders would have had to sell to the predator because the club didn't have the cash to meet unexpected shocks. We are almost in Donald Rumsfeld-esque unknown unknowns territory here, its all a bit vague and conspiratorial. Surely it would be better to hang on to the shares and try to improve the finances to meet whatever might happen than throw the towel in. (This is only a rugby club and a rugby stadium we are talking about, surely some financial planning is possible, rather than simply sitting on your hands waiting for some unexpected event (!) to happen).

Why Halifax when featherstone deserve it more?

So me responding to you being an idiot by calling you an idiot is a bite? Riiiiiiight.

Well done you.

And no, you didn't say the Bulls have been or were going to be in administration. However, the context of your comment implies you mean Bradford and your subsequent quibbling over the semantics of what you said just show you up as a troll.

Think they've made same assumption as dozey Parker in sun. Rumours of a big name in trouble + odsal deal announcement= must be Bradford in trouble.

If rumour circulating at weekend has any legs they need to be looking a lot further east for the club in trouble.

OK christ, look.

The RFL have done a property deal. They've paid market value and when they sell it on, it will be for market value with hopefully a bit of profit in it.

That's good for the game, simply.

It's a nothing story.

If the RFL wanted a national RL stadium, it would be brand new and it would not be in somewhere like Bradford. You can't have a national anything in Bradford for Christ's sake.