As many people said at the time, this was inevitable.

The 500k has served only to protect the outgoing Directors from being liable for their personal guarantees and in the process, has conned Bradford fans out of their hard-earned cash, stripped a few overly sentimental players of their winners medals and once again, piled humiliation on the RFL.

It might also serve to make Bradford's newco one of the most unpopular clubs in SL - nobody likes to feel conned.

Pun very much intended!!!

It all has a strange whiff about it.
Is the 750k to keep them going for the remainder of this year (2012), or until the end of the season.
Surely the have some income streams that are still functioning, especially if the figure is for the calendar year, in which case they should comfortably generate this level of income.
What about the current directors ?, are they walking away from the situation having lost the value of any shares or have they seeking some kind of payment for their shares etc.

Over to you mat!

I said it right at the start of all this, it is heading for a Pre-Packed Administration
I am quite sure that the current finnacial situation was known by the new board prior to them taking it on, the numbers aren't too dissimilar to the original figures quoted (£500k within an month and a further £500k soon after to secure short term future) then they were hoping for some external investment to cover the further £700k that has now appeared which is probably the "unknown six figure loan" sum mentioned in the artical.
The fans have been well and truely turned over and both the previous BoD and current were fully aware of this IMO, you cannot be totally unaware of these kind of figures on the level of turnover of the whole of the company.
Makes uncle ted look like santa claus

What a shame..

I take no pleasure in it, but we were crying from the rooftops telling them not to pledge, only to be rebuffed with comments like "this is different, we are a big side" and the like.