FORUMS > The Virtual Terrace > More Bullmania |
|
|
Rank | Posts | Team |
Player Coach | 5214 | No Team Selected |
Joined | Service | Reputation |
Aug 2006 | 18 years | |
Online | Last Post | Last Page |
Sep 2024 | Sep 2024 | LINK |
Milestone Posts |
|
Milestone Years |
|
Location |
|
Signature |
27476.gif I am the hash browns of rlfans :27476.gif |
|
| I have argued long and hard on this very forum that the actions taken so far by the rfl weren't necessarily proof of favour towards Bradford. I would find it very very difficult indeed to continue to do so should they avoid a points penalty for the latest farce.
It is not normal to enter administration during the takeover process, and would suggest underhand tactics were the best possible reason why this has occurred. Worst case being flagrant disregard for business practice, and a deliberate attempt to avoid debts known to the club.
This saga has been running for the best part of 3 years, yet not once has the club been seen to manage it's debts or reduce it's expenditure in any reasonable way, and continue to add to it through player signings which should be well beyond them in this situation.
I'm annoyed this has been allowed to happen yet again (in whatever capacity, even a minute of administration is far more than this club should be allowed to get away with) - I'd find it hard to imagine what state I'd be in should my club be under the threat of relegation.
|
|
|
|
Rank | Posts | Team |
International Chairman | 28357 | |
Joined | Service | Reputation |
Feb 2002 | 23 years | |
Online | Last Post | Last Page |
May 2024 | Oct 2019 | LINK |
Milestone Posts |
|
Milestone Years |
|
Location |
|
Signature |
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 |
|
| Quote: Sesquipedalian "Wakefield, under the Richardsons, entered Administration during the off season. They were bought from the Administrator before the new season began (actualy on the eve of the first game) yet they were deducted 6 competition points, later reduced to 4pts because Andrew Glover paid of a significant amount of the previous regimes debt.
No matter how they dress this up or spin it, Bradford have entered into Administration and should be subject to the same sanctions as Wakefield were, ie 6pt deduction reduced to 4pts if they pay some debts off.'"
In your quest for total equality, were Wakefield also fined one year's Sky money? If not, will they be voluntarily putting that amount in so it's fair?
Quote: Sesquipedalian "Furthermore, HMRC had served a winding up order on the Bradford Bulls and no amount of smoke screening can change that fact! '"
What smokescreening is that?
Quote: Sesquipedalian "This was not just a mechanism for a change of ownership, '"
It pretty much was, though. The deal to buy the club failed as Omar Khan wasn't paid the agreed money and the whole thing developed into a legal dispute which meant the club couldn't function as the people running it didn't own it. The pre-pack certainly resolved the impasse.
|
|
|
|
Rank | Posts | Team |
Player Coach | 22777 | |
Joined | Service | Reputation |
May 2006 | 18 years | |
Online | Last Post | Last Page |
Jun 2020 | Feb 2018 | LINK |
Milestone Posts |
|
Milestone Years |
|
Location |
|
Signature |
//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]: |
|
| Quote: Ferocious Aardvark "On the contrary, Khan has lost every penny he put in the Bulls, wouldn't you call that a "punishment"?'"
I would, doubt he would give a fsk about a points deduction for a club he doesn't own though.
|
|
|
|
Rank | Posts | Team |
Player Coach | 2150 | |
Joined | Service | Reputation |
Dec 2009 | 15 years | |
Online | Last Post | Last Page |
Oct 2024 | Mar 2024 | LINK |
Milestone Posts |
|
Milestone Years |
|
Location |
|
Signature |
47557_1332937611.jpg :d7dc4b20b2c2dd7b76ac6eac29d5604e_47557.jpg |
|
| Quote: Ferocious Aardvark "In your quest for total equality, were Wakefield also fined one year's Sky money? If not, will they be voluntarily putting that amount in so it's fair?
What smokescreening is that?
It pretty much was, though. The deal to buy the club failed as Omar Khan wasn't paid the agreed money and the whole thing developed into a legal dispute which meant the club couldn't function as the people running it didn't own it. The pre-pack certainly resolved the impasse.'"
Bradford weren't fined any money either. They offered it as a sweetner to keep them in SL
|
|
|
|
|
Rank | Posts | Team |
Player Coach | 5214 | No Team Selected |
Joined | Service | Reputation |
Aug 2006 | 18 years | |
Online | Last Post | Last Page |
Sep 2024 | Sep 2024 | LINK |
Milestone Posts |
|
Milestone Years |
|
Location |
|
Signature |
27476.gif I am the hash browns of rlfans :27476.gif |
|
| Quote: Ferocious Aardvark "In your quest for total equality, were Wakefield also fined one year's Sky money? If not, will they be voluntarily putting that amount in so it's fair?
What smokescreening is that?
It pretty much was, though. The deal to buy the club failed as Omar Khan wasn't paid the agreed money and the whole thing developed into a legal dispute which meant the club couldn't function as the people running it didn't own it. The pre-pack certainly resolved the impasse.'"
Did Wakefield have to form a new company to continue trading? No - therefore was it the same company who held a license since the last round of licensing? Yes. Therefore was there a need to apply for a new license? No. Did Bradford form a new company? Yes. Did the company that applied for a license exist at the end of the licensing period? No. Therefore did the new company need to apply for a new license? Yes. Should there of been conditions to this? Yes. Were there? Yes, an amount of the sky money.
I'm not sure why this is hard to understand, Bradford fans go on like this is the worst crime the rfl has ever committed. Do you want to know what the alternative was? Not allow you back into super league and then you'd of got NONE of the sky money - suddenly half isn't seeming so bad.
Other company's go into admin - though I don't think I've ever seen any company in any industry get in such a right royal mess as Bradford have here.
No the solution isn't to just go into administration - there are plenty of company's ran by people who don't own them - almost all company's in fact. I see plenty of mergers and takeovers every day, not once have I seen the company placed in administration for it. It's not a normal solution.
|
|
|
|
Rank | Posts | Team |
Club Coach | 523 | No Team Selected |
Joined | Service | Reputation |
Dec 2004 | 20 years | |
Online | Last Post | Last Page |
Nov 2016 | Nov 2016 | LINK |
Milestone Posts |
|
Milestone Years |
|
Location |
|
Signature |
: |
|
| It would be an absolute outrage if Bradford isn't deducted 6 points for going into Administration.
If Bradford get away with this it would be open season for any club to overspend and then go through these re-structuring shenanigans.
There no objective definition of "genuine"creditors and any other sort of creditor.
Part of the punishment of points deduction is because the fans of the club have had the benefit of having players play for them (and secure wins against other clubs who've played within the rules) who they couldn't in hindsight afford. The fans have to have that balance redressed by suffering the points deduction.
If the RFL let Bradford get away with this, the only reason will be the conflict of interest of owning the Odsal lease. After all the fantastic work by the RFL recently, it will be a big shame if they blot their copybook on this one.
Btw, I understand the concept of "pre-pack" but I really hope for his own sake that the Administrator got the best deal. If the upcoming sale of the assets (including a Super League licence) been advertised, would, for example, the Featherstone owner have bid more?
I'd expect the owner of ok bulls to continue the reported legal action to obtain the reported agreed consideration for the shares.
|
|
|
|
|
Rank | Posts | Team |
Player Coach | 2862 | |
Joined | Service | Reputation |
Dec 2009 | 15 years | |
Online | Last Post | Last Page |
Dec 2017 | Dec 2017 | LINK |
Milestone Posts |
|
Milestone Years |
|
Location |
|
Signature |
47753_1430033772.jpg JOHN THE REDBOY I have been a rovers fan all my life and my grandkids are as well:d7dc4b20b2c2dd7b76ac6eac29d5604e_47753.jpg |
|
| so in the first few years of super league Bradford bulls was the bees knees wining just abought every thing and had massive gates, were has the money gone it does not pay to be the best I take it, if you then get into a right state later
|
|
|
|
Rank | Posts | Team |
Player Coach | 13798 | |
Joined | Service | Reputation |
Oct 2006 | 18 years | |
Online | Last Post | Last Page |
Nov 2024 | Nov 2024 | LINK |
Milestone Posts |
|
Milestone Years |
|
Location |
|
Signature |
29100_1291104497.jpg 1/10:d7dc4b20b2c2dd7b76ac6eac29d5604e_29100.jpg |
|
| Quote: Ferocious Aardvark "In your quest for total equality, were Wakefield also fined one year's Sky money? If not, will they be voluntarily putting that amount in so it's fair?'"
Your point would have more impact if Trinity had been afforded a secret £750k RFL loan too, which would've prevented the club going into administration in the first place. They had asked for a lower amount but were refused.
|
|
|
|
|
Rank | Posts | Team |
International Star | 3881 | |
Joined | Service | Reputation |
Feb 2012 | 13 years | |
Online | Last Post | Last Page |
Oct 2024 | Oct 2024 | LINK |
Milestone Posts |
|
Milestone Years |
|
Location |
|
Signature |
66815_1344197625.jpeg :d7dc4b20b2c2dd7b76ac6eac29d5604e_66815.jpeg |
|
|
It's outrageous that there appears to be no repercussions for the club going into administration barely 1 week before the start of the season. There needs to be consistency otherwise it breeds the smell of corruption!
www.yorkshirepost.co.uk/news/wak ... -1-3054178
1/2/11....Wakefield, too, face a points penalty for breaching the RFL's insolvency regulations but are aiming to secure their long-term future under new owners and will be hoping the latest development will not do irreparable damage to their bid to land a new Super League licence in July.
|
|
It's outrageous that there appears to be no repercussions for the club going into administration barely 1 week before the start of the season. There needs to be consistency otherwise it breeds the smell of corruption!
www.yorkshirepost.co.uk/news/wak ... -1-3054178
1/2/11....Wakefield, too, face a points penalty for breaching the RFL's insolvency regulations but are aiming to secure their long-term future under new owners and will be hoping the latest development will not do irreparable damage to their bid to land a new Super League licence in July.
|
|
|
|
|
|
Rank | Posts | Team |
International Star | 7160 | No Team Selected |
Joined | Service | Reputation |
May 2011 | 13 years | |
Online | Last Post | Last Page |
Nov 2024 | Nov 2024 | LINK |
Milestone Posts |
|
Milestone Years |
|
Location |
|
Signature |
59880_1480501182.jpg :d7dc4b20b2c2dd7b76ac6eac29d5604e_59880.jpg |
|
| Quote: Magic Superbeetle "Did Wakefield have to form a new company to continue trading? No - therefore was it the same company who held a license since the last round of licensing? Yes. Therefore was there a need to apply for a new license? No. Did Bradford form a new company? Yes. Did the company that applied for a license exist at the end of the licensing period? No. Therefore did the new company need to apply for a new license? Yes. Should there of been conditions to this? Yes. Were there? Yes, an amount of the sky money.
I'm not sure why this is hard to understand, Bradford fans go on like this is the worst crime the rfl has ever committed. Do you want to know what the alternative was? Not allow you back into super league and then you'd of got NONE of the sky money - suddenly half isn't seeming so bad.
Other company's go into admin - though I don't think I've ever seen any company in any industry get in such a right royal mess as Bradford have here.
No the solution isn't to just go into administration - there are plenty of company's ran by people who don't own them - almost all company's in fact. I see plenty of mergers and takeovers every day, not once have I seen the company placed in administration for it. It's not a normal solution.'"
I don't think it was the worst crime ever, I just thought it was stupid. Massively handicapping the club who are trying to get back on their feet (I would say this snout any club) As the license period as finished I would have though we would have had our full Sky money this year but oh well.
While the situation is poor, I've seen much worse examples. Luton town, Leeds Utd, Bradford city.
From a bulls fan the good news is we are now under new owners and hopefully can now move forward. We are nt in admin looking for a buyer. Could be much worse.
|
|
|
|
Rank | Posts | Team |
Club Coach | 523 | No Team Selected |
Joined | Service | Reputation |
Dec 2004 | 20 years | |
Online | Last Post | Last Page |
Nov 2016 | Nov 2016 | LINK |
Milestone Posts |
|
Milestone Years |
|
Location |
|
Signature |
: |
|
| And I'd expect that the RFL will in fact impose the points deduction for going into Administration. Given the increased funding for top end Championship/SL2 clubs under the new 2x12; 3x8 structure, the RFL will have confidence that, even if Bradford is relegated at the end of this season, they will still play at (and be able to pay the rent for) Odsal in 2015.
|
|
|
|
Rank | Posts | Team |
Player Coach | 6858 | |
Joined | Service | Reputation |
Oct 2009 | 15 years | |
Online | Last Post | Last Page |
Sep 2019 | Nov 2018 | LINK |
Milestone Posts |
|
Milestone Years |
|
Location |
|
Signature |
22/03/2013
Get LEIGH outta wigan: |
|
| So what will Bradford be living off now?
|
|
|
|
Rank | Posts | Team |
Player Coach | 12189 | No Team Selected |
Joined | Service | Reputation |
Jun 2007 | 17 years | |
Online | Last Post | Last Page |
Jun 2017 | May 2017 | LINK |
Milestone Posts |
|
Milestone Years |
|
Location |
|
Signature |
34133_1401485799.png :d7dc4b20b2c2dd7b76ac6eac29d5604e_34133.png |
|
| Quote: j.c "So what will Bradford be living off now?'"
Thats the big question. If the Bulls are out of money now, just as all the season ticket money and sponsors money has come in, the rest of the season is going to be more than a struggle.
I can see the begging buckets coming back out in a couple of months
|
|
|
|
Rank | Posts | Team |
International Star | 1886 | No Team Selected |
Joined | Service | Reputation |
Jun 2010 | 14 years | |
Online | Last Post | Last Page |
Sep 2015 | Sep 2015 | LINK |
Milestone Posts |
|
Milestone Years |
|
Location |
|
Signature |
51581_1309939310.jpg :d7dc4b20b2c2dd7b76ac6eac29d5604e_51581.jpg |
|
| Quote: Saint Simon "Thats the big question. If the Bulls are out of money now, just as all the season ticket money and sponsors money has come in, the rest of the season is going to be more than a struggle.
I can see the begging buckets coming back out in a couple of months'"
No they won't need to, when the debts mount up again just repeat the process.
|
|
|
|
Rank | Posts | Team |
Player Coach | 12189 | No Team Selected |
Joined | Service | Reputation |
Jun 2007 | 17 years | |
Online | Last Post | Last Page |
Jun 2017 | May 2017 | LINK |
Milestone Posts |
|
Milestone Years |
|
Location |
|
Signature |
34133_1401485799.png :d7dc4b20b2c2dd7b76ac6eac29d5604e_34133.png |
|
| Quote: jack in the box "No they won't need to, when the debts mount up again just repeat the process.'"
all well and good, but where do they get money to run the club now? can't see any suppliers offering them credit. As a tradesman myself id be asking for cash upfront for any work.
|
|
|
|
|
|