Re: Administration 3 - now in technicolour : Thu Dec 08, 2016 3:54 pm  

paulwalker71 wrote:

According to League Express online this new bid came in at 5.30 pm last evening. They could argue that this was within the deadline - albeit barely.

I read that there was an enquiry from a new party yesterday at 5:30pm. The administrators were to have a conference call with them today to discuss the situation hence the deadline extension. Can't remember where I read it though.

Re: Administration 3 - now in technicolour : Thu Dec 08, 2016 4:11 pm  

Quote from Total RL site :
“Yes, the deadline has been extended,” Pettit said.

“We’ve had another person come forward and we have a conference call with them later today (Thursday). I had to take the commercial decision to either stick to the deadline as planned or look for what we believe to be the best deal for this club.”

And Pettit said it would have been “nonsensical” to ignore the, as yet, unnamed party who has stepped forward with a new bid.

“The deadline is merely a guideline,” he admitted.

“We’ve had three offers come in thus far but it’s far more beneficial to explore our options. With what was reported to us last night, we’ve simply got to entertain this party and this bid. It would have been nonsensical to ignore it.”

A number of parties have been linked with the Odsal club, including Mandy Koukash, the wife of Salford owner Marwan, as well as businessman Richard Lamb – who had expressed an interest in the Bulls in the past.

Re: Administration 3 - now in technicolour : Thu Dec 08, 2016 4:46 pm  

"With what was reported to us last night." - what does that even mean?

Re: Administration 3 - now in technicolour : Thu Dec 08, 2016 4:52 pm  

debaser wrote:

"With what was reported to us last night." - what does that even mean?

I took it to mean 'this latest lot are seriously loaded'

Re: Administration 3 - now in technicolour : Thu Dec 08, 2016 4:59 pm  

paulwalker71 wrote:

I took it to mean 'this latest lot are seriously loaded'

I admire your optimism.

Re: Administration 3 - now in technicolour : Thu Dec 08, 2016 5:18 pm  

rugbyreddog wrote:

The Administrator has to get the best for the creditors which is why he mat go back to other potential owners.

Which brings me to another point (I wish Adeybull was about)
Green got the Bulls last time because he was owed £650k and the largest creditor which meant if he won the debt would in effect vanish. However, he puts them into Admin and the debt reappears. Does this mean that he didn't repay any creditors last time? Or if he did, it certainly wasn't himself so how much did he repay to creditors and would he have still been the best bidder.

The previous debt was a debenture that Green took out with Whitcut, as security for a loan. That loan was not made by Green personally though, but a company so it was the company who was a creditor not Green.

But, that debt has nothing to do with the current Bulls (BBNL). If Green is owed anything then it can only be new money that he and his missus had invested, in BBNL. It can't be that old debt, which was owed to a different company by another different company (BBHL)

Re: Administration 3 - now in technicolour : Thu Dec 08, 2016 5:19 pm  

So I take dead line is tomorrow night?

So when are we likely to hear anything.

Re: Administration 3 - now in technicolour : Thu Dec 08, 2016 5:29 pm  

Bullnorthern wrote:

Quote from Total

A number of parties have been linked with the Odsal club, including Mandy Koukash, the wife of Salford owner Marwan, as well as businessman Richard Lamb – who had expressed an interest in the Bulls in the past.

Can I add to the rumour mill on Sunday Salford hold their open day and Marwan and Mandy will not be attending which must mean he/she must be a bidder.
Unfortunately both will be in Hong Kong on Sunday watching Growl in the Longines Hong Kong sprint.
Mind you if Growl wins he could have enough to make a bid.

Re: Administration 3 - now in technicolour : Thu Dec 08, 2016 5:37 pm  

debaser wrote:

I admire your optimism.

Well, not really...

The quote was

With what was reported to us last night, we’ve simply got to entertain this party and this bid. It would have been nonsensical to ignore it.”

It wouldn't make any sense if this new bidder was worse than the existing bids. If so, why not just give them the brush off. It would be like 'Oh this new bid is rubbish, so let's waste time discussing it in a conference call'!?!

I think it is clear from the quote that what he heard about the new bid led him to believe it was better than, or at very least comparable, to the existing bids.

Re: Administration 3 - now in technicolour : Thu Dec 08, 2016 5:39 pm  

Massimo Cellino,and Marc Green is the latest bid, MC having a break from football for 18 months, has promised to keep Bulls out of Admin during that period, but after which he will return to LUFC and leave Bulls in the very capable hands of MG.