Re: Bradford lying to fans again? : Wed Apr 11, 2012 11:44 am  

There's money to be made in Bradford.
Once I've drafted details of my 'Pyramid Get Rich Plan' I'm going to post in over on the 'Redamberandgullible' forum, sit back and watch the money roll in

Re: Bradford lying to fans again? : Wed Apr 11, 2012 11:50 am  

IIRC doesn't that £500k "pledged" include the gate money from the Leeds game, plus all the money raised so far by auctions etc? So only a relatively small percentage of that will be cash pledges that they now have to chase up.

Anyone with access to Companies House records able to see how much the Bulls declared as directors remuneration in their last filed accounts? I'd hate to think - as G1 suggests - that the directors salaries are being paid off as part of this first tranche of "liabilities".

[John_D]

Re: Bradford lying to fans again? : Wed Apr 11, 2012 12:41 pm  

otleyrhino wrote:

T and A

BAN THIS FILTH


(I'm 37 years old and still amused that Bradford's local rag is called the T&A)

[Bullseye]

Re: Bradford lying to fans again? : Wed Apr 11, 2012 2:31 pm  

AFAIK none of the directors get any remuneration at all. But I could be wrong.

Re: Bradford lying to fans again? : Wed Apr 11, 2012 2:50 pm  

Bullseye wrote:

AFAIK none of the directors get any remuneration at all. But I could be wrong.

One could argue that they are being paid what they're worth.

[Bullseye]

Re: Bradford lying to fans again? : Wed Apr 11, 2012 2:58 pm  

Old Feller wrote:

One could argue that they are being paid what they're worth.

Re: Bradford lying to fans again? : Wed Apr 11, 2012 11:25 pm  

The long-term issue isn't getting rid of the liabilities they have right now, its the sustainability of the business moving forward. If they owe money they can't pay, it doesn't matter whether its £1m or £10m - they need to raise the money to pay it or go bust.

What concerns me is whether once they have received the £1m are they solvent on an ongoing basis?

[Ex-Swarcliffe Rhino]

Re: Bradford lying to fans again? : Thu Apr 12, 2012 6:17 am  

If they ARE Losing 100k a month, I'd say no, not as it stands.

Re: Bradford lying to fans again? : Thu Apr 12, 2012 11:29 pm  

If they are losing £100k a month then they have problems that no fundraising can solve. That's £1.2M per year, so they need to cut costs significantly (presumably only player salaries can let them realistically do that) or increase income on an ongoing basis.

Re: Bradford lying to fans again? : Fri Apr 13, 2012 8:30 am  

I'm pleased for some of the bulls fans, in that they have dug deep to save their club, but reading the report in League Express on Tuesday I got a bit angry. The source of my anger is that this is a private company, which has somehow (and this, it must be said, was a masterstroke by an apparently inept board) come to be treated as a charity. People have handed over £500k to a private business, no strings attached. £14k from a bucket collection? There are actual charities doing selfless, worthwhile work out there who would have quite liked over a ton of coinage. But no, all that philanthropic good will has been poured without thought into the coffers of a business with it's own shareholders, which needed it because it had squandered every penny it had before.

I don't want to see the Bulls go under, but the whole thing feels quite wrong to me.