[Bullseye]

Re: Peter Hood says Bulls on brink of going bust. : Thu Mar 29, 2012 2:41 pm  

Highlander wrote:

So we are paying both the same levels of maintenance as we were doing but also now have ?quarterly lease payments on top of that. How exactly does that decrease our outgoings?

I dunno. Now we know we signed Odsal over to pay off a loan it looks as if they deal was done to settle a debt rather than to reduce outgoings, at least I think that's it.

It certainly wasn't told like that at the forum and a few of us were taken in that it was an excellent deal securing the club's future. Obviously something happened since then to change things. RBS have been accused but it doesn't add up.

I'd like some clarity on all this, especially as we're being asked to prop the club up. It's only fair after all.

Re: Peter Hood says Bulls on brink of going bust. : Thu Mar 29, 2012 2:44 pm  

Highlander wrote:

So we are paying both the same levels of maintenance as we were doing but also now have ?quarterly lease payments on top of that. How exactly does that decrease our outgoings?

Well don't forget we received a huge big sum up front for the sale of the lease, all of which was available for setting against future expenses.

What was that I heard you say...?

Re: Peter Hood says Bulls on brink of going bust. : Thu Mar 29, 2012 2:57 pm  

Another thing - a few years ago when the £80m Sports village was first mooted there were a few fans wanting to know how much cash we were putting in. I think I remember we were down for £7m - which at the time was put down as the commercial value of the lease. Does anyone else remember this or am I just going crackers ?

[Bulliac]

Re: Peter Hood says Bulls on brink of going bust. : Thu Mar 29, 2012 3:15 pm  

Highlander wrote:

Another thing - a few years ago when the £80m Sports village was first mooted there were a few fans wanting to know how much cash we were putting in. I think I remember we were down for £7m - which at the time was put down as the commercial value of the lease. Does anyone else remember this or am I just going crackers ?

I think that may have been a commercial value of the land....I think our lease had always been a bit below the going rate as posters like Guess Who and the Bantam Menace would never let us forget.

Re: Peter Hood says Bulls on brink of going bust. : Thu Mar 29, 2012 3:24 pm  

Bullseye wrote:

I dunno. Now we know we signed Odsal over to pay off a loan it looks as if they deal was done to settle a debt rather than to reduce outgoings, at least I think that's it.

It certainly wasn't told like that at the forum and a few of us were taken in that it was an excellent deal securing the club's future. Obviously something happened since then to change things. RBS have been accused but it doesn't add up.

I'd like some clarity on all this, especially as we're being asked to prop the club up. It's only fair after all.

And it doesn't help that RBS and the Bulls are putting out conflicting claims and counterclaims through the media, all clear as mud.

Re: Peter Hood says Bulls on brink of going bust. : Thu Mar 29, 2012 3:50 pm  

Bullseye wrote:

I dunno. Now we know we signed Odsal over to pay off a loan it looks as if they deal was done to settle a debt rather than to reduce outgoings, at least I think that's it.

It certainly wasn't told like that at the forum and a few of us were taken in that it was an excellent deal securing the club's future. Obviously something happened since then to change things. RBS have been accused but it doesn't add up.

I'd like some clarity on all this, especially as we're being asked to prop the club up. It's only fair after all.

If the debt that was paid off was owed to the RFL, then effectively the club handed over the lease to pay off the debt to the RFL.

If the club does become insolvent it's entirely possible that an administrator or liquidator might challenge that transaction.

Who knows what happened though?

This is very murky and I do hope people aren't throwing good money after bad.

Really the board should announce they will resign at the end of next month and invite new people to come forward to be appointed as directors to take the club forward, in order to restore confidence.

I'm reluctant at the moment to pledge any cash to the Bulls. Sorry, but it feels wrong (not just risky) without more information and action from the board.

You all have my sympathy. As a Wigan fan I will never get over losing Central Park as a result of mismanagement of our club. I really do hope nothing as grim as that is coming your way. I've never had a problem with Bradford fans or at your ground (in marked contrast to your "Big City" neighbours and the Hull clubs, for example) and it is appalling that a club with your history and status has been reduced to this.

Re: Peter Hood says Bulls on brink of going bust. : Thu Mar 29, 2012 3:55 pm  

No-one seems to be waiting in the wings anxious to join the board and put some money in though. My understanding is that Hood has always maintained he would stand down as soon as a suitable candidate did.

We are being told, sort of, that there is a least one such candidate now sitting out there, who may be persuaded to come on board if the pledge succeeds.

We'll see.

Re: Peter Hood says Bulls on brink of going bust. : Thu Mar 29, 2012 4:03 pm  

Bullseye wrote:

Same here. And on hearing that I thought we were still stuck with a financial millstone. It was likened in the past by Mr Hood to owning a big old house in that repairs were expensive and tricky. This time he pretty much contradicted the line that Odsal was costly to run.

I don't know why the line changed.

Must admit I've been sceptical about the "Odsal costs a fortune" line since Caisley claimed at a fans forum (circa 2000) that the safety certificate would be withdrawn unless £10m was spent immediately, including £2m on a new roof for the main stand.

Its not as if the terraces are crumbling or there's ever any signs of major maintenance/refurbishment projects taking place. Apart from once when the club claimed to have spent £35k repairing a burst main its never been clear what expensive and tricky repairs have been necessary.

Re: Peter Hood says Bulls on brink of going bust. : Thu Mar 29, 2012 5:43 pm  

Just spoken to my dad. Him, my brother and mother go to a pub quiz every week where after the quiz they do a Play Your Cards Right game. Its been rolling over for weeks and this week of all weeks my brothers ticket got drawn to play and he won it! £500! They've decided to pledge most of it as it was money they didn't have in the first place.

Was pretty proud of them for that.

Come on you bulls!

Re: Peter Hood says Bulls on brink of going bust. : Thu Mar 29, 2012 5:58 pm  

What the hell has happened here, in laymans terms? Why are we so short of money, i just dont understand. It's so sad.