It seems I am not banned as stated by hull2524, I have just posted on the Hull board.

Surely the 7 figure SLE bid rules out any chance of a 'newco' since it guarantees that creditors will be paid whatever the outcome.

The administrator is hardly going to accept an offer which will not pay the creditors when he has one from SLE which will.

I never saw any indication that SLE would be paying a 7-figure fee, or guaranteeing debt. In fact I think Hetherington made a point of saying it would only cover liabilities [igoing forward[/i. It had newco written all over it, IMO. Can you imagine the clubs finding £100k each to pay off someone elses debts in full? Unless they've already agreed a CVA in principle for pennies in the pound, not a chance - and why would HMRC accept that?
To me it looks like either:
1. One or more of the bids look likely to fly as an oldco. Fingers crossed.
2. The clubs have looked over the precipice and didn't like what they saw. If that's the case they'll hopefully make the small leap of logic that a sacrifice then has to made to save the Bulls - licensing.

Getting a bit broken record about this, I know, but I'm haunted by visions of massively damaging gormcloptitude. And the coverage has been more heat than light. Lots of people trying to be sensible and reasonable, while missing the point or not thinking about the wider implications.

I was just about to mention that. Seems some folk assume that if a poster doesn't post for a few days he must be banned.

I did have some fun.

Not my reading of the SLE bid - why save them to relegate them? 'Integrity of the competition' or £100k and getting their 2013 TV money anyway, seems an easy choice.
If the creditors get their end, then that is great.

Couldn't be duller this shizzle.

No surprise whose the instigator.

Sorry to go on - honestly. But the reason for the SLE bid was that after the RFL/SLE turned down the ABC consortium the administrator threatened to liquidate Bradford there and then - sending the current season into utter chaos.

The administrator wanted to accept the ABC bid, they offered the best deal in town for the creditors. But the RFL were wary of giving Odsal and £1m guaranteed TV income to this previously non- rugby loving group of astute asian businessmen. Which is what they demanded as part of the deal.

The administrator was miffed - he'd found a deal to suit creditors and the pesky RFL wouldn't play ball. So he told the RFL Bradford would be liquidated.

At a hastily convened meeting of the SL clubs they came up with a solution to avoid what would have been within days the extinction of Bradford Bulls. They put in a bid themselves which they knew the administrator and the creditors couldn't refuse and guess what? The bid was for the exact amount of one years Bulls TV money which is a 7 figure sum.

SLE didn't really want to own Bradford they hoped another bid would materialise which would pay off the debts and now it has. That wouldn't have happened without the SLE bid - no one pays more than they have to but the SLE offer started the bidding at £1m.

One last point to consider - former chairman and still major shareholder Chris Caisley. He forced the resignation of chairman Peter Hood and then put the club into administration under Brendan Guilfoyle, someone known well to him via his law firm. Since then complete & utter silence from Caisley - was he hoping and expecting to pick up a 'newco' complete with Super League licence? Some people think so. If so the rug was well & truly pulled from under his feet by (IMO) the quite brilliant manouvre from Super League.

BTW although I am and always will be a lifelong Rovers supporter I live & work in Bradford hence my particular interest in them.

My take on the SLE bid is how it satisfied the creditors (circa £1.5 million) in order to avoid liquidation, and as such set the bar for any other bid(s). Note how there has not been any reference toward a CVA.

The £100,000 payback (so to speak) would be adjusted by the 2 'advances' made to cover the Bulls July/August players contracts.

I have to say I do feel the administrator has overstepped his remit. Having worked for the Official Receivers Office in the past, his sole duty was to find a buyer who would satisfy the Bulls creditors, and NOT to find a buyer who can demonstrate continuance of the business. TBH I am surprised the creditors, in particular, the tax man (IR & VAT), have not pursued the winding up order or placed enormous pressure once the administrator didn't bite the SLEs hand off!

Avoiding the damage to this season clearly was an issue, but so would be paying £1.5m [ijust[/i to avoid that one problem. 'Handing over' Odsal was clearly going to be more than problematic, but the Sky money and a place in SL wouldn't be an unreasonable request for an oldco. Take on the liabilities, take on the licence basically.




That anybody is willing to put in a bid that big is pretty astonishing and even more amazing would be that it hasn't then been resolved by now. I think we can probably both see a likely explanation, but to state it would be potentially libellous.

Anyway, if you're right it is to be an oldco, which is best all round.