FORUMS > The Virtual Terrace > bradford bulls problems |
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47750_1364064681.jpg [i:1jzbvqku]The mind is like a parachute. If it's not open it won't work. - Frank Zappa[/i:1jzbvqku]:d7dc4b20b2c2dd7b76ac6eac29d5604e_47750.jpg |
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| Quote: SmokeyTA "Why cant the RFL guarantee a place in SL for Bradford?
This Steve Parking/Wakefield thing is a nonsense red herring which just seems to be an extension of the Wakefield ‘people like Bradford more’ victim mentality which has been evident since Bradfords problems became apparent.
The situation with Wakefield was completely, and obviously, different. Wakefield were asking for a new license, they wanted the RFL to pre-judge the entire procedure to guarantee them a place in the top league, Bradford are looking to continue with their existing licence, nobody else is affected.
The fact is the RFL need to decide whether Bradford are going to be in next season and the season after anyway, they have to decide whether this takeover means the RFL want to keep Bradford in or kick them out before they make any other decision. Just make that decision, we aren’t waiting for a license judgement, there isn’t a date where all the clubs are judged and need to submit applications and that decision is to be released, we aren’t working to any time table. They RFL have to make a decision one way or the other, make it.
If Bradford are staying in, tell them, if they are being kicked out, tell them. What on earth are we gaining spending the whole offseason with this uncertainty? It has no benefit for the RFL, Bradford, or whoever replaces them. Why add to the uncertainty, why make them take that risk? It doesn’t do anyone any good.
The RFL should look at the new owners offer, look at what they are doing, planning, their backing, look at everything, and make a decision, either say fine, you are in and help the takeover go through, or say no, its not good enough, any club outside [iSL have until September the 31st [/ito submit a bid for a 2 year licence, and the best in our opinion will get in.'"
Not on my calendar they don't
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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: Kosh "If they're asking if they can continue with an existing franchise then it involves the franchise system. The clue is in the use of the word 'franchise'.'"
The way the franchises are handed out, and the way they then go on to operate once handed out are too distinct things.
If a club can be bought and sold outside of administration, with the franchise an asset which is able to be transferred, there is no reason to assume that should a club be in administration and its assets bought, that the franchise wouldn’t be an asset which is able to be transferred.
Are you suggesting that any takeover or investment results in the club being forced to bid again for the franchise as it would involve a change in assets, business plan and finances?
Quote: Kosh "They are asking if they can take over a licence awarded to someone else, based on someone else's business plan. And they are buying an RL club, not an SL club or Championship club.'" No they are asking whether, when they purchase the Bradford Bulls, the franchise awarded to the Bradford Bulls will be transferred or withdrawn. It is nonsense to suggest they are buying an RL club and not an SL or Championship club. Bradford Bulls don’t exist outside of the games they play and the competitions they play in.
Quote: Kosh "Indeed. Maybe those details are even included in the bid. Surely any reasonably competent purchaser would do so before making those demands?'" what bid? Are we in a bidding process for something? Whats the pre-qualifying criteria? Who is bidding? Who is judging? When? What are they judging on? When are they deciding?
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33809_1522680904.png 'Thus I am tormented by my curiosity and humbled by my ignorance.' from History of an Old Bramin, The New York Mirror (A Weekly Journal Devoted to Literature and the Fine Arts), February 16th 1833.:d7dc4b20b2c2dd7b76ac6eac29d5604e_33809.png |
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| I actually agree with Smokey. The RFL need to state their intentions - nobody is going to buy the Bulls with this uncertainty over what they are buying. I'd rather wait and start a new club in the championship, than risk being dumped there with next to nothing to show for the initial investment needed to save the company. If it is a buy-out acceptable to creditors the franchise to 2014 should be retained, IMO. Transferring it to a newco would be different, but the problem is losses to come more than existing debt according to some in which case that maybe wouldn't be a likely scenario.
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6505_1460484023.jpg [i:10za56ci]Hold on to me baby, his bony hands will do you no harm
It said in the cards, we lost our souls to the Nameless One[/i:10za56ci]:d7dc4b20b2c2dd7b76ac6eac29d5604e_6505.jpg |
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| Quote: SmokeyTA "The way the franchises are handed out, and the way they then go on to operate once handed out are too distinct things.'"
It's all one system.
Quote: SmokeyTA "If a club can be bought and sold outside of administration, with the franchise an asset which is able to be transferred, there is no reason to assume that should a club be in administration and its assets bought, that the franchise wouldn’t be an asset which is able to be transferred.'"
Most licencing/franchise systems incorporate a mechanism whereby a franchise transfer has to be approved by the licencing body/organisation and may well be reviewed or removed. I'd be surprised if something similar wasn't included in RL franchises.
Quote: SmokeyTA "Are you suggesting that any takeover or investment results in the club being forced to bid again for the franchise as it would involve a change in assets, business plan and finances?'"
No, because I'm not suggesting that a new bid is entered.
Quote: SmokeyTA "No they are asking whether, when they purchase the Bradford Bulls, the franchise awarded to the Bradford Bulls will be transferred or withdrawn. It is nonsense to suggest they are buying an RL club and not an SL or Championship club. Bradford Bulls don’t exist outside of the games they play and the competitions they play in.'"
Unless you believe that there's a chance of them not being allowed to play in any competitions at all then this is hair splitting.
Quote: SmokeyTA "what bid? Are we in a bidding process for something? Whats the pre-qualifying criteria? Who is bidding? Who is judging? When? What are they judging on? When are they deciding?'"
Now you just look daft. I suggest a visit to an online dictionary, although given your previous I'm sure you'll attempt to wriggle out of your pretty basic error with the language.
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| Quote: Mild Rover "I actually agree with Smokey. The RFL need to state their intentions - nobody is going to buy the Bulls with this uncertainty over what they are buying. I'd rather wait and start a new club in the championship, than risk being dumped there with next to nothing to show for the initial investment needed to save the company. If it is a buy-out acceptable to creditors the franchise to 2014 should be retained, IMO. Transferring it to a newco would be different, but the problem is losses to come more than existing debt according to some in which case that maybe wouldn't be a likely scenario.'"
I think that's spot on, this was in the local press eariler this week;
[i"The prospective purchasers are looking at losses for the next 18 months with their own accountants and advisers in and they want to make sure they have enough money to cover the losses,” he said.
“ Buying the club is not an issue, they need to be sure they can stabilise and take the club forward.
“They have met with RFL to hear the process of how the rights are transferred to Super League and they want Odsal back from RFL."[/i
rlrescue bidrl
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6505_1460484023.jpg [i:10za56ci]Hold on to me baby, his bony hands will do you no harm
It said in the cards, we lost our souls to the Nameless One[/i:10za56ci]:d7dc4b20b2c2dd7b76ac6eac29d5604e_6505.jpg |
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| Quote: Mild Rover "I actually agree with Smokey. The RFL need to state their intentions - nobody is going to buy the Bulls with this uncertainty over what they are buying. I'd rather wait and start a new club in the championship, than risk being dumped there with next to nothing to show for the initial investment needed to save the company. If it is a buy-out acceptable to creditors the franchise to 2014 should be retained, IMO. Transferring it to a newco would be different, but the problem is losses to come more than existing debt according to some in which case that maybe wouldn't be a likely scenario.'"
There are two problems with thisappear[/i weak if they just say yes.
For the avoidance of doubt, I am not suggesting that this bid should be rejected out of hand. I am suggesting that some due process, scrutiny, and possibly compromise is in order before a decision is made.
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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: Kosh "It's all one system.'" Yes, everything, if we expand the definition wide enough is all part of one big interconnected system, that doesnt however make one thing relevent or important to another. Nor does it make the way the franchises are handed out the same as they way they operate once they have been handed out.
Quote: Kosh "Most licencing/franchise systems incorporate a mechanism whereby a franchise transfer has to be approved by the licencing body/organisation and may well be reviewed or removed. I'd be surprised if something similar wasn't included in RL franchises.'" Which is what the people looking to get from the RFL prior to purchasing the club.
Quote: Kosh "No, because I'm not suggesting that a new bid is entered.'" So when do you suggest the RFL make this decision, and how?
Quote: Kosh "Unless you believe that there's a chance of them not being allowed to play in any competitions at all then this is hair splitting.'" I think there is a very real possibility that if the RFL say the Bulls will be relegated, or just fail to give any answer to the very important and pertinent question of whether the club has an SL licence the current bidders will drop out and the club will be liquidated and cease to exist. It isnt splitting hairs to suggest the bidders are bidding for an SL club and have no interest in a championship club.
Quote: Kosh "Now you just look daft. I suggest a visit to an online dictionary, although given your previous I'm sure you'll attempt to wriggle out of your pretty basic error with the language.'" Im still not sure what you mean, if not a bid for a franchise as i assumed (which isnt happening btw) then your statement doesnt address mine at all and in that context doesnt make any sense.
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33809_1522680904.png 'Thus I am tormented by my curiosity and humbled by my ignorance.' from History of an Old Bramin, The New York Mirror (A Weekly Journal Devoted to Literature and the Fine Arts), February 16th 1833.:d7dc4b20b2c2dd7b76ac6eac29d5604e_33809.png |
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| Quote: Kosh "There are two problems with thisappear[/i weak if they just say yes.
For the avoidance of doubt, I am not suggesting that this bid should be rejected out of hand. I am suggesting that some due process, scrutiny, and possibly compromise is in order before a decision is made.'"
Against point 1, I'd say it is a chance against no chance. A sensible caveat could be included - they could say that Bradford wouldn't be demoted [ifor going into admin[/i, so long as the new owners offer the types of guarantee the boards of other loss making clubs made to get a licence.
On 2, I agree. It seems to have been badly framed. 'We would like to make an offer, we just need to know the extent of any sanction the club faces for going into admin', would have achieved the same, while looking more like a query. If they can cut through the Gordian knot of the lease ownership that'll put any apparent weakness over this in the shade, I reckon.
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973_1515165968.gif Last edited by Ferocious Aardvark on stardate Jun 26, 3013 11:27 am, edited 48,562,867,458,300,023 times in total:d7dc4b20b2c2dd7b76ac6eac29d5604e_973.gif |
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| The confusion is clearly the continual reference to whether or not "the RFL will accept the conditional offer". This phrase is an utter nonsense and should be dropped. ABC have reportedly made it crystal that they are only interested in a SL club. So, in crude terms, their offer seems to be:
Dear Mr Guilfoyle
We offer to buy the assets of the old co., on the following terms:
1. We will pay £X, which works out at ??p in the £ for creditors. We will not proceed if that figure is not agreed.
2. The RFL transfer the lease to ABC. We will not proceed if we can't have the lease.
3. The Bulls SL licence continues for the new club. We don't want to buy it if it's a non-SL club.
The RFL either agree 2 and 3, or they don't. They are conditions, but there is nothing conditional about it so far as the RFL is concerned. They either agree, or not.
The other point nobody has mentioned. I presume however that as HMRC are easily the biggest creditor, then some agreement in principle must have been reached with them highly unlikely though that sounds to me. Since the deal could only be consummated in a CVA and that basically goes through if HMRC agree and doesn't if they don't. I must say I am baffled why there's been not a peep about that angle. Surely the consortium can't have done all this work just to have HMRC pis$ on their bonfire at the last minute?
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| Quote: Ferocious Aardvark "2. The RFL transfer the lease to ABC. We will not proceed if we can't have the lease.'"
That seems to be the contentious point - I'm not sure how the RFL could 'transfer' (sell) that lease to the consortium for anything less than what they paid for it, without suffering a catastrophic loss of reputation within the RL community, not least amongst a significant number of SL club chairmen.
Equally, the consortium won't want to pay the full value of that lease without some guarantee that they'll remain a SL club, if they want to pay the full value at all.
The RFL could solve it by clearly stating a) what penalty the Bulls wil face for going into admin and b) what terms they'll accept to sell the lease, including the potential to insert clauses about the Bulls staying there for a period of time.
It's a thorny one.
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6505_1460484023.jpg [i:10za56ci]Hold on to me baby, his bony hands will do you no harm
It said in the cards, we lost our souls to the Nameless One[/i:10za56ci]:d7dc4b20b2c2dd7b76ac6eac29d5604e_6505.jpg |
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| Quote: Ferocious Aardvark "The confusion is clearly the continual reference to whether or not "the RFL will accept the conditional offer". This phrase is an utter nonsense and should be dropped. ABC have reportedly made it crystal that they are only interested in a SL club. So, in crude terms, their offer seems to be
What's that you say? An offer with conditions attached? Why, some folk might call that a conditional offer - but probably only if they understood what that meant.
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| Quote: Kosh "What's that you say? An offer with conditions attached? Why, some folk might call that a conditional offer - but probably only if they understood what that meant.'"
I think the point is that the "conditions" are ones that the RFL should be seeking to resolve now in any case, thereby turning it into an either an unconditional offer or a turned down offer. They are conditions for which the ball is firmly in the RFL's court. The issue of the lease is fairly straightforward. The RFL can and should insist that they will only repay it if they get back every penny that they paid. They may also want to apply other conditions, such as the Bulls remaining at Odsal, but its up to them, not ABC, to say what they are.
Its also entirely reasonable for ABC to seek clarification regarding the existing SL license (not assurances about any 2014 license). The RFL are entirely within their right to delay any decision until the end of the season and conduct a mini licensing review involving Halifax and Fev. But they need to cut out the pretence that that a Bradford club would be involved in that. The RFL need to make their mind up now whether Bradford's existing SL license will be retained (barring any future problems). If they cannot agree to that they should kick us out of SL now.
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'when my life is over, the thing which will have given me greatest pride is that I was first to plunge into the sea, swimming freely underwater without any connection to the terrestrial world'
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| The RFL should not bend to veiled threats over the Bulls, if they deserve to lose their licence then so be it, I cannot believe that the financial problems have materialised since the last round of franchises and this would have led to covering up the problems, therefore 'stealing' a place for one of the championship clubs who are in good order off the pitch and on.
If this consortium genuinely has the interests of the Bulls at heart it would still be interested in building the club back up, even if it was from a lower division. Hope the RFL has the same balls as the Scottish PL, FA and clubs, but I doubt it.
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| Why is it that the more I read about this offer and the more I get to thinking about the "conditions" being imposed upon it, the stronger the feeling that this consortium aren't necessarily in it for the love of the sport or the love of the Bulls club?
Buy it cheap, sell anything that isn't nailed down, extract the funds then ship it on to whoever wants what's left springs to mind.
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6505_1460484023.jpg [i:10za56ci]Hold on to me baby, his bony hands will do you no harm
It said in the cards, we lost our souls to the Nameless One[/i:10za56ci]:d7dc4b20b2c2dd7b76ac6eac29d5604e_6505.jpg |
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| Quote: Cibaman "I think the point is that the "conditions" are ones that the RFL should be seeking to resolve now in any case, thereby turning it into an either an unconditional offer or a turned down offer. They are conditions for which the ball is firmly in the RFL's court. The issue of the lease is fairly straightforward. The RFL can and should insist that they will only repay it if they get back every penny that they paid. They may also want to apply other conditions, such as the Bulls remaining at Odsal, but its up to them, not ABC, to say what they are.'"
None of which stop it being a conditional offer. Which the RFL have previously stated they weren't interested in.
As someone else said, the offer from ABC was unfortunately phrased to say the least. It's added an unnecessary complication when the exact same assurances could have been sought without [iappearing[/i to be delivering an ultimatum.
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