FORUMS > Hull FC > O/T - Bulls on verge of going bust |
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| I feel sorry for the loyal Bradford fans. Hopefully the club can be saved, it would be extremely bad news for the sport for the club to go under.
Without new owners you wonder whether £1m in the short term is enough and if in a few months time, should they have a poor cup run and miss the play offs again, they'll be back in the same boat.
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| Quote: Marfa Manu "Unless they can get £1m together they are gone, if they go into administration they need a investor/buyer or they are gone, so it could be irrelevant what they get for players . The bottom line is the club have been greedy and signed up players they cannot afford to pay in 2 weeks time, now given the option of watching a pathetic squad who may end up in NL1 is better imo than losing the club altogether and they are serious risk of this right now.'"
Yes, it may be irrelevant, but the point is that it can hardly harm them further can it? Whereas offloading at the cheapest price can. Who would buy a club with big debts, no ground, and no decent players to boot? The players are currently the best assets they've got, getting shut at rock bottom prices (or even free) to save money they can't pay anyway would be madness at this stage.
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| Haven't read all the info out there, but is any of this related to the image rights issue - the case against Leeds seems to be never-ending, but not up to speed with it?
And the other question for me is whether removing the 50% of turnover max on player salaries has contributed to the situation.
Very sad for Bradford fans regardless. Feel for them.
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| Quote: carl_spackler "The added problem they have over Wakey though is the ground. Hopefully any new venture would have no problem getting the go ahead from the RFL to play at Odsal, but as we see on a regular basis, you can never quite predict what they will do.
It's the combination of administration + potentially no ground that I think would possibly threaten their franchise position.'"
I'm pretty sure the RFL would rather have a paying tenant in Odsal than have an empty ground costing them cash.
The problem Bradford have is lack of operating cash. Wakey were never in any danger of not being able to keep operating until the administrator could find a buyer; unfortunately that's not the case with Bradford. If they can't find the cash to pay wages next month then they fold, simple as.
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| Some pretty poor opinions on here.
Lets NOT do a DOBBINS special and vote/act them out of existance.
Were bigger and better than that....JUST REMEMBER OUR MERGER.
WE NEED TO SUPPORT THE BRADFORD CLUB (not board members).
Period.
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| Ironically it seems that the Odsal deal that was supposed to secure their future may have done the exact opposite
Now that's simple incompetence. The BOD should have talked things through with the bank before selling the lease to the RFL.
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| Quote: Kosh "I'm pretty sure the RFL would rather have a paying tenant in Odsal than have an empty ground costing them cash.
The problem Bradford have is lack of operating cash. Wakey were never in any danger of not being able to keep operating until the administrator could find a buyer; unfortunately that's not the case with Bradford. If they can't find the cash to pay wages next month then they fold, simple as.'"
I would certainly hope so after all their bluster after buying it. I just hope that if Bradford have to start again that the RFL come to an affordable rental agreement for them and don't get tempted by approaches for the land.
The threat to Bradford is very severe, I hope they come through it. I was just saying that if possible it would be far better for them to avoid administration or restarting IMO, as it could effectively mean them out of SL and I wouldn't fancy their chances of a return any time soon.
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| Quote: carl_spackler "Yes, it may be irrelevant, but the point is that it can hardly harm them further can it? Whereas offloading at the cheapest price can. Who would buy a club with big debts, no ground, and no decent players to boot? The players are currently the best assets they've got, getting shut at rock bottom prices (or even free) to save money they can't pay anyway would be madness at this stage.'"
I understand what you are saying, but it could be what they have to do in 2 weeks time with no way back, big gamble by the board who I consider have been totally incompetent.
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| Quote: ComeOnYouUll "I feel sorry for the loyal Bradford fans. Hopefully the club can be saved, it would be extremely bad news for the sport for the club to go under.
'"
^^^^^^
Ditto this.
The difference between Bradford and Hull FC, is Person.
I would hate to think where we would have been had Person not stepped in.
We would have been faced with a big tax bill and other mounting debts, and a continued dwindling number of supporters along with very little assets.
I recon if we had not had Person come in, then within 12 months or so we would have been Bradford II
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| Quote: Isaiah "^^^^^^
Ditto this.
The difference between Bradford and Hull FC, is Person.
I would hate to think where we would have been had Person not stepped in.
We would have been faced with a big tax bill and other mounting debts, and a continued dwindling number of supporters along with very little assets.
I recon if we had not had Person come in, then within 12 months or so we would have been Bradford II'"
Quite possibly given the tax bill. There must be plenty of clubs on the brink and pending outcomes of tax test cases this could push some over the edge potentially.
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| There is now way that the Bulls will vanish and or leave super league, it would be a disaster to the whole sport. When the RFL took over the Bulls lease on Odsal they virtually signed upto protecting them, because with the Bulls Odsal is virtually worthless. Couple that with the imense media frenzy that would result in with a SL club of the Bulls status vanishing, its not going to happen.
Clearly there have been some bad decisions taken along the road to today's announcement. Clearly they have been spending more then have been getting in for a long time, the Harris affair took its toll and too many seasons finishing outside the top eight has hammered the point home. I see on there website they have an offer seven matches for £70 and £55 for concessions from a list of graded matches. For a club going into financial meltdown this must be suicide added to there season passes at give away prices.
The Bulls board where very shrewd handing the lease of Odsal to the RFL in payment for money owed and I would like to know why the RFL agreed to take on the lease. They must have some idea of the financial state of the club and the resulting problem if the club went pete tonge.
I feel for the Bulls supporters and its must be worrying for all concerned, but they will be ok but we must work harder to stop this happening. We may have to look at perhaps reducing the league numbers and ensure that clubs are fully funded.
Other clubs are looking vunerable and if the Bulls get through this and I think they will others will follow a similar path.
That is the danger for the sport a raft of clubs with little money, the bulls will be OK due to the steps they took to wrap the RFL around them.
OTHERS WILL NOT BE
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| Quote: Mrs Barista "Quite possibly given the tax bill. There must be plenty of clubs on the brink and pending outcomes of tax test cases this could push some over the edge potentially.'"
That’s the frightening thing.
We may be heading towards having the best team since the 80’s, and no one to play with.
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| Quote: Isaiah "^^^^^^
Ditto this.
The difference between Bradford and Hull FC, is Person.
I would hate to think where we would have been had Person not stepped in.
We would have been faced with a big tax bill and other mounting debts, and a continued dwindling number of supporters along with very little assets.
I recon if we had not had Person come in, then within 12 months or so we would have been Bradford II'"
Its frightening to think where HullFC would be without Pearson's takeover.
I reckon we'd have limped on for another couple of years, playing to dwindling gates before the serious problems started.
I can only imagine how bad our pass sales this year would have been had Agar been retained and if the drugs scandal had broken with those involved still at the club!
Bradford would be a massive loss to Super League, and I have sympathy for the fans, but you can't deny how bad some of their decisions have been.
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| Quote: Ian P "There is now way that the Bulls will vanish and or leave super league, it would be a disaster to the whole sport. When the RFL took over the Bulls lease on Odsal they virtually signed upto protecting them, because with the Bulls Odsal is virtually worthless. Couple that with the imense media frenzy that would result in with a SL club of the Bulls status vanishing, its not going to happen.
Clearly there have been some bad decisions taken along the road to today's announcement. Clearly they have been spending more then have been getting in for a long time, the Harris affair took its toll and too many seasons finishing outside the top eight has hammered the point home. I see on there website they have an offer seven matches for £70 and £55 for concessions from a list of graded matches. For a club going into financial meltdown this must be suicide added to there season passes at give away prices.
The Bulls board where very shrewd handing the lease of Odsal to the RFL in payment for money owed and I would like to know why the RFL agreed to take on the lease. They must have some idea of the financial state of the club and the resulting problem if the club went pete tonge.
I feel for the Bulls supporters and its must be worrying for all concerned, but they will be ok but we must work harder to stop this happening. We may have to look at perhaps reducing the league numbers and ensure that clubs are fully funded.
Other clubs are looking vunerable and if the Bulls get through this and I think they will others will follow a similar path.
That is the danger for the sport a raft of clubs with little money, the bulls will be OK due to the steps they took to wrap the RFL around them.
OTHERS WILL NOT BE'"
Agreed, is a right hole
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| is there enough money in the game in these tough times to sustain 14 full time squads?
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