But this was obviously a last resort, liquidation was a real threat.
Crusaders wasn't viable, the Bulls are. I'm taking from this that the RFL will sell the ground back with the club, as this seems to be a big stumbling block with any potential new owners; or the RFL are going to revoke the franchise license but 'help them land softly' and selling on once the business is stable.

Hopefully you're right mate. I don't like to see any team liquidate, I just think it is laughable that the league actually buys a club.

The selective memories in this thread appear to be ignoring your post as well. Your quite right in what you're saying, that's exactly what happend.

I remember no loan, i remember us getting both FCs and Gatesheads SL money (£650K - 1.3mil total) to get us restarted and we have lived with the Gateshull jibes from the rest of SL ever since.

But...they (SLE) intervened then for us and they are doing the same now for the Bulls, what's the difference?......for the wider good of the game this is a very wise and bold move by SLE and those clubs who voted for it.

From our own selfish point of view I was hoping the Bulls plight might mean we get hold of one or two pf their brights stars, maybe that won't now be the case.

i dont think they will be in superleague for 2013 after some of there players have tweeted today.looks like they will be a championship side for 2013 and from what ive read on the bulls board is that the players will become free agents as there contracts will be null and void.

The only reason the SLE supported us back then was because their investment in Gateshead was about to go down the swanny (they lost approx £750k in about 9 months if I recall). Conveniently for them we were going tits up at the same time, hence the merger. This was just a way to protect there money first and foremost they didn't do it to save us.

And they won't be doing it just to save the Bulls for sentimental reasons, it will be down to finances and business reasons just like it was with us.

So how come SLE held £500k of shares in the club, £500k that was eventually paid back to SLE?

Quote: cod'ead "So how come SLE held £500k of shares in the club, £500k that was eventually paid back to SLE?'" There was also a merger payment of £1.25 million. news.bbc.co.uk/1/hi/sport/rugby_ ... 521562.stm

Quote: cod'ead "So how come SLE held £500k of shares in the club, £500k that was eventually paid back to SLE?'" There was also a merger payment of £1.25 million. news.bbc.co.uk/1/hi/sport/rugby_ ... 521562.stm

Which we had to buy back as they were due to be turned into voting shares too

Apologies if this has been mentioned, but they still need to balance the books. Expect the see some departures and to see them nailed on for a licence.

There were 250,000 no voting shares which all the other SL clubs subscribed to in order to make the merged club viable. These were "bought back" in 2004 (ish). The substance of these was a loan.

That's the one reaon I haven't been too quick to throw my views ino the cauldren, Hudds fan should do the same.