FORUMS > Wakefield Trinity > Bulls in trouble |
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| Quote: TRB "Parkin, or any other investor, will not take on the Bulls in their current form - there is too much debt burden for that. He MAY be interested if the club goes into administration - and he would have one of his pre-requisites, a guaranteed licence, but then again, he would only be able to get a club and not the asset of Odsal as that belongs to the RFL!'"
Interestingly, it could be that move by the RFL that prevents them being rescued - with the lease to Odsal held by the RFL, any investor is committing to paying the rent and operating costs, but has no assetts to borrow against; equally, anyone who thought about grabbing the club then moving them somewhere else and realising the value of Odsal to pay themselves back, is similarly stymied.
They're in a pickle; it looks like administration is the only way out, but given the increasingly desperate suggestion that Bradford are a RL institution that we need in the game, I wouldn't be at all surprised if the RFL don't step in with some kind of measures to protect them.
Only this afternoon, Blake Solly was on the radio urging Bradford fans to part with their £100 to save the club; a rather irresponsible thing to do, not least because they didn't make a similar plea when WTW were in the shiz and equally, because giving money to the current BoD at Bradford is throwing good money after bad.
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| Like many others who have already posted, my sympathies are with the fans (we all know how they're feeling) and also with the players who have no real certainty about their futures right now.
For the game's sake, I hope that the Bulls used the money from selling the Odsal lease to the RFL to clear longer term debts based on the priority of any security that was in place. If they haven't and the club goes into Administration, the sale could be declared invalid which would mean that the RFL have to hand the lease back but will have lost their money.
Aside from the potential (and almost inevitable) fire-sale of players, it occurs to me that the Bulls' Super League licence could be considered an asset that may be sold to raise funds to repay creditors. Not sure how that would work out in reality, but may be a possibility.
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| Quote: TRB "Parkin was only interested in us if we agreed to go into administration. Ted didn't want to risk that and was hoping for a reprieval through getting NM - when that failed he had no choice and Parkin came sniffing once more but withdrew because we could guarantee neither a licence or NM.
Parkin, or any other investor, will not take on the Bulls in their current form - there is too much debt burden for that. He MAY be interested if the club goes into administration - and he would have one of his pre-requisites, a guaranteed licence, but then again, he would only be able to get a club and not the asset of Odsal as that belongs to the RFL!
I have sympathy for the Bulls fans - they have travelled in numbers and their club was once one to be proud of but, as Jack said, they have a dirty side to their management which is un-matched in the game - even Huddersfield have better business scruples!
What gauls me the most is that shambolic announcement and pack-of-lies about the ground being bought by the RFL because of it's iconic status - what baloney! Anyone could work out that that was not true and what the real reasons were - and yet we treated appaulingly by both the Bull media machine and, worse, the RFL.
I would not be sorry to see the back of Hood & Co, but the RFL's involvement in this, their knowledge of the true situation and the fact that we could have been removed from SL to keep these propped up, means that is the RFL who have my utter contempt in this matter. Our game is in tatters and they pat themselves on the back - disgraceful!
admin is on the cards but with the RFL could frighten the like of Parkin away
as for the corrupt RFL it just keeps showing its self up time after time
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| Quote: RDM "Like many others who have already posted, my sympathies are with the fans (we all know how they're feeling) and also with the players who have no real certainty about their futures right now.
For the game's sake, I hope that the Bulls used the money from selling the Odsal lease to the RFL to clear longer term debts based on the priority of any security that was in place. If they haven't and the club goes into Administration, the sale could be declared invalid which would mean that the RFL have to hand the lease back but will have lost their money.
Aside from the potential (and almost inevitable) fire-sale of players, it occurs to me that the Bulls' Super League licence could be considered an asset that may be sold to raise funds to repay creditors. Not sure how that would work out in reality, but may be a possibility.'" that could work for next two season if the club could afford it as for this season too many matches have been played
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Feb 2011 | 14 years | |
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| Quote: kinleycat "Good luck to the Bulls, but a million quid in a week is IMO, an impossible target.
Would it make the RFL look stupid if the Bulls go pants up, and they have paid a million for nothing or would they be able to sell the lease on and make a (unlikely in the circumstances) profit/
Surely though the RFL must have undertaken some due diligence before lending/giving them the money and have expected them to last more than a couple of months thereafter?
As ever, this situation will lead to more speculation and conjecture as to the lack of transparency over RFL deals and policy, and it certainly begs the question, didn't the Bulls state that they were not undergoing financial problems (of this drastic magnitude), and that the £1M was only to secure their future? I smell a rat!!
To all the Bulls fans, massive good luck, we know how tough this situation is better than most!!!'"
All spot on Kinleycat...but huge sympathy to Bulls fans. We all love our clubs and this hurts
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| Kinley if the Bulls go tits up they have a prime bit of land to build on
might not be the loss maker you think
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| Quote: snowie "Kinley if the Bulls go tits up they have a prime bit of land to FILL IN WITH HOUSEHOLD WASTE'"
Edited for accuracy.
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| If Bulls go under, Halifax could effectivly take on their licence for this franchise period. 2012 as a trail (with no points awarded) and 2013, 2014 proper. Keeps SL at 14 clubs.
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| Odsal was origionaly a council tip
Before being converted into the ankle deep in mud,
iconic stadium.
I would have thought that it was hardly a desirable place to live. Considering the contaminated land issues.
And wasn't the last round of franchises issued with warnings to all clubs regarding the consequences of administration ie removal of licences
No sympathy with the Bullies their gloating when we were near extinction made me feel sick, those old enough will remember clubs giving players to the old northern to get them started again .
Pick up the best players let them feel the pain we did last year
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Rank | Posts | Team |
International Chairman | 1470 | |
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| Quote: bren2k "Interestingly, it could be that move by the RFL that prevents them being rescued - with the lease to Odsal held by the RFL, any investor is committing to paying the rent and operating costs, but has no assetts to borrow against; equally, anyone who thought about grabbing the club then moving them somewhere else and realising the value of Odsal to pay themselves back, is similarly stymied.'"
I don't think Parkin has the slightest interest in rugby league. He's been looking at options for his footy team round the area, and the Bradford location would have been an obvious choice, and still could be. Pumping in a million or more to keep the rugby league club afloat wouldn't be part of his plan, though. That would cover quite a few years' rent money at Newmarket, pray to God it gets the go-ahead.
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| Now that we are all knitting at the guillotine, when would the 4 point deduction kick in? Would lift us a place on points difference.
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| Quote: Slugger McBatt "Now that we are all knitting at the guillotine, when would the 4 point deduction kick in? Would lift us a place on points difference.'"
Sweet. Not heard that one before.
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| Quote: RebelRebel "I don't think Parkin has the slightest interest in rugby league.'"
I think he may have done, until he met the RFL.
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| Quote: bren2k "I think he may have done, until he met the RFL.'"
I think we'd all have loved a few million of Parkin's money splashed on the club, but I'm glad we have Glover's "double glazing salesman" approach to rugby league. At least that way we have a sustainable club to support.
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| Quote: Slugger McBatt "Now that we are all knitting at the guillotine, when would the 4 point deduction kick in? Would lift us a place on points difference.'"
Knitting at an event like this???
Behaviour like this is the reason that public execution were banned!!
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