| FORUMS > Warrington Wolves > Bradford go into Administration |
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Sad news for Bradford fans and RL in general. Fingers crossed, someone can save them.
It doesn't look good.
news.bbc.co.uk/sport1/hi/rugby_l ... efault.stm
Brendan Guilfoyle and Chris White, from The P&A Partnership, have been appointed joint administrators after the club failed to find the investment needed.
Commenting on the appointment, Guilfoyle said: “We now have just ten working days to save the club from liquidation because there are no funds to carry on longer. “If there is anyone interested in buying the Bulls then we need to hear from them right now because this famous club is now on the brink of extinction.”
Guilfoyle, who was at the club’s Odsal Stadium this morning to give the news of the administration to employees, added: “The directors made every effort to try to save the club within the 14-day timescale issued by the courts but the moratorium ended yesterday without any potential buyer coming forward.”
White and Guilfoyle are partners at The P&A Partnership, a leading specialist business turnaround and insolvency firm with offices across the UK and in London. Guilfoyle specialises in sports’ administrations and has been involved in the administrations of Leeds United plc, Luton Town, Crystal Palace and Plymouth Argyle. |
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Sad news for Bradford fans and RL in general. Fingers crossed, someone can save them.
It doesn't look good.
news.bbc.co.uk/sport1/hi/rugby_l ... efault.stm
Brendan Guilfoyle and Chris White, from The P&A Partnership, have been appointed joint administrators after the club failed to find the investment needed.
Commenting on the appointment, Guilfoyle said: “We now have just ten working days to save the club from liquidation because there are no funds to carry on longer. “If there is anyone interested in buying the Bulls then we need to hear from them right now because this famous club is now on the brink of extinction.”
Guilfoyle, who was at the club’s Odsal Stadium this morning to give the news of the administration to employees, added: “The directors made every effort to try to save the club within the 14-day timescale issued by the courts but the moratorium ended yesterday without any potential buyer coming forward.”
White and Guilfoyle are partners at The P&A Partnership, a leading specialist business turnaround and insolvency firm with offices across the UK and in London. Guilfoyle specialises in sports’ administrations and has been involved in the administrations of Leeds United plc, Luton Town, Crystal Palace and Plymouth Argyle. | |
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Sad news indeed.
Que a war over Bateman, Whitehead etc.
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There is a rumor that if they do go bust then Halifax will replace them in the super league. If this happens it is the stupidest most pointless decision the RFL will ever make. How many teams need to go bust before the RFL will start to put things right. First off relegate at least four teams and put a proper cap in place
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| Quote: madmuppet "There is a rumor that if they do go bust then Halifax will replace them in the super league. If this happens it is the stupidest most pointless decision the RFL will ever make. How many teams need to go bust before the RFL will start to put things right. First off relegate at least four teams and put a proper cap in place'"
I agree with reducing the size of Super League, but that in itself will effectively kill off the clubs we kick out.
Plus, what would you define as a proper cap? Clubs are clearly incapable of trading properly with the current cap, so a lower one? Wouldn't that just further reduce the playing standards and therefore crowds? |
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Maybe its best to downgrade now before we lost other teams as well. Letting it fall apart, which is what is happening, is doing the sport no good at all. The franchise does not work but the RFL will never admit that. If it did work this would never have happened to three clubs in two seasons. Bring back relegation and promotion give the lower clubs something to aim for instead of this stupid idea of locking them out for three years and then doing a Widnes - Win in one year and then have two awful seasons
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| Quote: madmuppet "Maybe its best to downgrade now before we lost other teams as well. Letting it fall apart, which is what is happening, is doing the sport no good at all. The franchise does not work but the RFL will never admit that. If it did work this would never have happened to three clubs in two seasons. Bring back relegation and promotion give the lower clubs something to aim for instead of this stupid idea of locking them out for three years and then doing a Widnes - Win in one year and then have two awful seasons'"
I completely disagree. I believe the franchise system is, and will continue to work, but it should have been in place from day 1 of SL. The effects we are seeing now are fallout from clubs having to overspend to compete before the franchise system was introduced. It will always happen in a sport where the jump from Championship to Super League is so huge both in running costs and playing quality. |
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Where were Bradford ever not in Super League and having to overspend to compete?
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| Quote: madmuppet "Maybe its best to downgrade now before we lost other teams as well. Letting it fall apart, which is what is happening, is doing the sport no good at all. The franchise does not work but the RFL will never admit that. If it did work this would never have happened to three clubs in two seasons. Bring back relegation and promotion give the lower clubs something to aim for instead of this stupid idea of locking them out for three years and then doing a Widnes - Win in one year and then have two awful seasons'"
Your point would hold water, if clubs hadn't been going into adminstration prior to the advent of franchising.
The only fortunate element to Bradford going into administration, is they have had a reasonable amount of time to prepare. The talk of liquidation is surely a scare tactic only? |
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| Quote: madmuppet "Maybe its best to downgrade now before we lost other teams as well. Letting it fall apart, which is what is happening, is doing the sport no good at all. The franchise does not work but the RFL will never admit that. If it did work this would never have happened to three clubs in two seasons. Bring back relegation and promotion give the lower clubs something to aim for instead of this stupid idea of locking them out for three years and then doing a Widnes - Win in one year and then have two awful seasons'"
Completley disagree. This is not proof at all of franchising not working. So 3 clubs have suffered - how do you know that without franchising, the global recession would not have hit even more clubs? With no minimum standards we may have had half the league spending beyond their means to compete on the field.
As it is, we've got most clubs in new or improved/improving stadia and most clubs well run and properly financed. That's quite an achievement in the current financial world.
All the Bradford situation is proof of - is that whatever systems you have in place (franchising, P&R, salary caps etc), if you have people running a business who make massive mistakes then its not going to end well. |
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bradford's issues were longterm mis-management,
I can't imagine that corporate thing at the end of the ground was a clever idea either, doesn't seem to be a cash cow.
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| Quote: Fantastic Mr Catpiss "bradford's issues were longterm mis-management,
I can't imagine that corporate thing at the end of the ground was a clever idea either, doesn't seem to be a cash cow.'"
Correct. I think I read somewhere that they paid millions in cash for that, instead of a properly structured finance package like normal businesses use. |
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Just a quick selfish question seeing as we were are due to host Bradford on the 29th July. When they could be liquidated by then.
Do people get a refund on season tickets for a game that they would no longer see? What happens about the lost revenue from away fans, people who buy game by game tickets who wont have a game to go to and also food and drinks sales losses?
For some clubs, could this cause problems as they would have budgeted for this game especially those teams who are tight for money?
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Makes me wonder if bradford go bust with crowds of between 6 & 12 k how on earth do London Broncos survive on 2-3k crowds will they be next
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I'd be very surprised if they are liquidated within 10 days.
They're just trying to smoke out potential buyers. The other thing is that as far as I can tell the only creditors are the players and the taxman. So the taxman is the one banging the door down for payment.
They don't own the ground so the only assets they have are the players. So Bateman will definitely go to the highest bidder and quickly, to give the taxman a payment to keep him happy for a limited period.
I also don't think this reflects on the licensing process - if anything it shows why it's needed.
The elephant in the room is that there are too many clubs together in a small area - from a pure business perspective they should merge with Halifax but obviously it's not as simple as that.
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| Quote: PADDERS "Makes me wonder if bradford go bust with crowds of between 6 & 12 k how on earth do London Broncos survive on 2-3k crowds will they be next'"
They have a rich benefactor who is covering the losses - they'd have gone under a long time ago if it wasn't for David Hughes. |
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