Re: Administration 3 - now in technicolour : Fri Nov 18, 2016 10:28 am  

RickyF1 wrote:

Least they have started something.

Never be confident when there are no plans to build and the only engine started is on a bulldozer.

Anyway, back to you guys ........

I'm presuming that you've just got to take a long-term view. Where will you be in ten years time? No reason why you can't be where you once were. You've just got a tricky two or three years ahead. Your main problem is perhaps Leigh, whose distorted success has probably convinced the RFL that it's a great system. Once there have been a few years of no one getting a sniff of the top flight, there may be a reversion to one-up, one-down. That is the only way to get promoted without someone shoving a heap of money in on a gamble.

Re: Administration 3 - now in technicolour : Fri Nov 18, 2016 10:45 am  

Errol Stock wrote:

Thats my thinking too.. For me - it's Rohan and the team I'll be supporting and buying my season ticket once we have an owner.

I maintain we are on the brink of getting somewhere under his stewardship and the youth setup we have and I'm not prepared to walk away from that

I don't think our troubles for next season will come due to the ownership, the most damage to our future will come from the RFL, judge jury and hangman without governance.

Sometimes I wish I didn't care, but I do

Errol - we have both been going too long not to care. I will still be there no matter which league we are in. Just give me a team to support is my only wish.

Re: Administration 3 - now in technicolour : Fri Nov 18, 2016 11:22 am  

[quote="Slugger McBatt"]Your main problem is perhaps Leigh, whose distorted success has probably convinced the RFL that it's a great system.[/quote]

The problem isn't Leigh [i]per se[/i] - investment in the game can only be a good thing, the problem for Bradford, and all clubs, is the RFL and their running (or ruining?) of the game.

This episode, with hopefully a club still standing once resolved, has convinced me to join Bullbuilder.

Re: Administration 3 - now in technicolour : Fri Nov 18, 2016 11:33 am  

psychostring wrote:

Best case I think we can hope for is retain Championship status and the players signed to date and only get a 6 point deduction. If that were to happen and we actually get a new owner who knows how to run a stable club then I think we can count ourselves 'lucky'.

Somehow I don't think it will be that straightforward though given our recent history. I keep expecting to check the T&A website to see the headline "Bulls debts found to £1.5 million" or something worse. I just can't see that we have the full picture on the level of debt.
...

Size of the debt is irrelevant, it won't be repaid, not by anyone.

We have already lost Championship status.

Bradford bulls Norther Ltd is in administration and is no longer a member of the RFL or the Championship.

Sure, someone "might" come in, pay everything off, buy BBNL off the administrator and we all crack on. In other news, flocks of flying pigs are circling Odsal. In reality, someone will acquire the business of BBNL from the administrator for a song, and in the form of a new holding company. They will do so only if and when the person or persons controlling the new company pass the fit & proper test and the RFL agrees to admit the NEW CLUB to membership.

There is indeed a continuing entity, only a virtual one, but the one that is real to us fans, "the Bulls". Ironically it is much more real to us than the company shenanigans, but it would best be described as the "soul" of the operation, and sort of lives on floating over and above all the shoite, in a virtual bubble. If someone has the money to commence Bulls Mk. VI (or whatever it is now) then they get to look after the bubble. If not - it bursts.

Re: Administration 3 - now in technicolour : Fri Nov 18, 2016 11:57 am  

The size of the debt is very relevant to the investor/s coming in.Not only does it show the failing areas,but points to the ones that require investment.Yes they may get it for a song,doesn't that allow for further investment though? Either way I think it needs a clean slate to start with.

[Bullseye]

Re: Administration 3 - now in technicolour : Fri Nov 18, 2016 12:08 pm  

Imagine say the debt was £1.5m. You'd need to agree to pay the lot to qualify for a mere 6pt penalty. With a 6pt penalty I reckon we'd still get in the top 4 and so qualify for some prize money, though it wouldn't wipe out the initial outlay. Plus you'd have to factor all the running costs and overheads for running the club. So call it £2.5m to pay off the debt and run the club for a year.

Might it make more financial sense to a buyer to offer say £250k for the club and take the 12pt penalty, maybe miss out on the top 4 but at least be at least be £1.25m better off

There's no real incentive financially to pay off all the debt.

[Pumpetypump]

Re: Administration 3 - now in technicolour : Fri Nov 18, 2016 12:30 pm  

Bullseye wrote:

There's no real incentive financially to pay off all the debt.

And that's understandable but utterly perverse. I don't like, for example, the thought of my beloved club being instrumental in bringing hardship to small companies and suppliers.

Re: Administration 3 - now in technicolour : Fri Nov 18, 2016 12:44 pm  

Pumpetypump wrote:

And that's understandable but utterly perverse. I don't like, for example, the thought of my beloved club being instrumental in bringing hardship to small companies and suppliers.

...again.

Re: Administration 3 - now in technicolour : Fri Nov 18, 2016 12:45 pm  

Not just a case of buying the company and paying off the debts or not as the case may be. You currently have a squad of FT players on FT contracts. You have several hundred season ticket holders who have stumped up cash already which I am assuming has disappeared into the black hole that is BBNL in administration. There is only 200k or so to come from the RFL next season. What does the new owner do, there are a million and one things for the new owner(s) to consider before making a serious offer. In otherwords they have to have a plan not just to provide the dosh to buy the company, they also have to show the RFL their plans for moving forward in reapplying for membership at which point the RFL can decide on the final sanction. This final sanction could in effect kill or seal the deal depending on the new owners intentions. I really hope it gets sorted quickly for all the loyal fans' sakes.

Re: Administration 3 - now in technicolour : Fri Nov 18, 2016 12:53 pm  

Pumpetypump wrote:

And that's understandable but utterly perverse. I don't like, for example, the thought of my beloved club being instrumental in bringing hardship to small companies and suppliers.

But how would you feel about the club reneging on it's debt to presumably it's biggest creditor?

Would you prefer someone to come along & pay off a percentage of the debt, take a points deduction, & stay in the Championship or, start from scratch debt free in Division One (if that's even allowed)?