Re: Administration 3 - now in technicolour : Thu Nov 24, 2016 12:35 pm  

Nothus wrote:

Ross seems to think Green has a debenture in place acting as security against monies he put in to the club.

Yes I know there is a debenture, but was asking what money he has put in and when. I mean, it has seemed obvious for a long time that he or someone must have been putting money in or borrowing from somewhere, as it was difficult for me to see how else ends were being made to meet.

There is a difference between saying you'll advance money only on the security of a debenture (which is what IIRC he did with Whitcut); and taking out a debenture as security for money previously advanced or loaned unsecured. The point being, if he put in 650K or whatever in late July - where is it, and why did we go down? Why not use half of it to pay off HMRC and then argue later?

Re: Administration 3 - now in technicolour : Thu Nov 24, 2016 12:38 pm  

Ferocious Aardvark wrote:

Yes I know there is a debenture, but was asking what money he has put in and when. I mean, it has seemed obvious for a long time that he or someone must have been putting money in or borrowing from somewhere, as it was difficult for me to see how else ends were being made to meet.

There is a difference between saying you'll advance money only on the security of a debenture (which is what IIRC he did with Whitcut); and taking out a debenture as security for money previously advanced or loaned unsecured. The point being, if he put in 650K or whatever in late July - where is it, and why did we go down? Why not use half of it to pay off HMRC and then argue later?

I'd assume it was money put in over his entire 3yr tenure including last year when we made a loss over the season and during this season to fund new coach and players brought in during season. As no accounts have been filed for that period then its impossible to say at what point funds were put in.

Re: Administration 3 - now in technicolour : Thu Nov 24, 2016 12:41 pm  

Ferocious Aardvark wrote:

Yes I know there is a debenture, but was asking what money he has put in and when. I mean, it has seemed obvious for a long time that he or someone must have been putting money in or borrowing from somewhere, as it was difficult for me to see how else ends were being made to meet.

There is a difference between saying you'll advance money only on the security of a debenture (which is what IIRC he did with Whitcut); and taking out a debenture as security for money previously advanced or loaned unsecured. The point being, if he put in 650K or whatever in late July - where is it, and why did we go down? Why not use half of it to pay off HMRC and then argue later?

I think it's more likely that the balance on his loan account has built up over the last 3 years, and when he knew the writing was on the wall he took out some security for it. Most (or all) of the balance could even have been introduced as far back as when he first took control, when we had no money yet still found a way to run the club until the end of the season.
No idea where the figures have come from, can't see how anyone could know unless they've seen the club's books.

Re: Administration 3 - now in technicolour : Thu Nov 24, 2016 12:43 pm  

I don't think Marc Green will be our next owner unless all other parties end their interest.

The RFL took away our membership from the championship realising that Green was going to try and be our owner again. He put us into admin to avoid being wound up and will try and take over again not paying the tax bill. If no other parties were interested the RFL would have to accept his bid to stop the club going extinct, but would quite rightly place us in league 1.

As it stands they seem to be 3 very serious bids (2 sound like they could have some deeper pockets than previous owners, from reading Ross's tweets) If the admin thought the best deal would be to go with Green, the RFL could reject him taking ownership of the club on "fit and proper persons test" and the administrator would have to go back to to the 2 other previous.

That's how i understand it all.

Re: Administration 3 - now in technicolour : Thu Nov 24, 2016 12:46 pm  

TBH at this stage I think if someone paid green the full amount of his debenture he'd quite happily end his interest and walk away. Its clear he doesnt have the funds to improve us and is only treading water to protect the funds hes already put in. There were rumours he was trying to sell us long before winding up orders started.

Re: Administration 3 - now in technicolour : Thu Nov 24, 2016 12:51 pm  

Bull Mania wrote: Tweet from Ross: 3 leading parties have emerged to take control of Bulls. Wasps owner Derek Richardson is not one of them. My guess is Green, Lamb, and Graham Lowe Forgive me for not following this situation fully but it may divert your stress away slightly if I give you a couple of links to read. It will probably be nowhere near relevant but Dr Koukash is a property developer and did offer to pursue a stadium build for Swinton but there was a disagreement with the council,I believe. When he took over at Salford,here are a couple of links - Graham Loweand Mr Chalmers? Mr Lowe has been in ill-health for a number of years.No idea what Mr Chalmers is doing but he does seem well connected.

Bull Mania wrote: Tweet from Ross: 3 leading parties have emerged to take control of Bulls. Wasps owner Derek Richardson is not one of them. My guess is Green, Lamb, and Graham Lowe Forgive me for not following this situation fully but it may divert your stress away slightly if I give you a couple of links to read. It will probably be nowhere near relevant but Dr Koukash is a property developer and did offer to pursue a stadium build for Swinton but there was a disagreement with the council,I believe. When he took over at Salford,here are a couple of links - Graham Loweand Mr Chalmers? Mr Lowe has been in ill-health for a number of years.No idea what Mr Chalmers is doing but he does seem well connected.

Re: Administration 3 - now in technicolour : Thu Nov 24, 2016 12:57 pm  

dummyrunner wrote:

Anyone know if Gareth Roberts is in the running, he was in last time under the guise of Bradford(Park Avenue), he as the money, and before anyone says that BPA are struggling that's because he is running a tight ship due to treading water re promotion isn't possible because of ground issues, he has plans for Horsfall but covenants and the council are preventing any improvements, he is known to have stated he would give it to end of this calendar year if no movement with his dealings with the council he was going to consider other sites.
Two and Two making Five maybe, but I believe it's a no brainer to improve Odsal and rejoin the two clubs at the same site.

I wouldn't be impossible and a lot of things add up, especially the Ross tweets about an Odsal development. He was involved in a previously failed bid to buy the Bulls although you have to question his intent when the billionaire was out bid by Marc Green.

Re: Administration 3 - now in technicolour : Thu Nov 24, 2016 1:11 pm  

Sensei-Bull wrote:

I wouldn't be impossible and a lot of things add up, especially the Ross tweets about an Odsal development. He was involved in a previously failed bid to buy the Bulls although you have to question his intent when the billionaire was out bid by Marc Green.

At time of last admin Roberts didnt own park avenue. He only took over january 2015. Think he was involved before then but not as owner. Now he is in full charge and has had a couple of years of trying to develop ground he may see it as a better option to ground share at odsal and place a higher value on club. Think their have been mutterings in past that council wanted to sell off horsfall site for housing which might explain them not being helpful in any planning decisions re improvements.

Re: Administration 3 - now in technicolour : Thu Nov 24, 2016 1:25 pm  

mat wrote:

At time of last admin Roberts didnt own park avenue. He only took over january 2015. Think he was involved before then but not as owner. Now he is in full charge and has had a couple of years of trying to develop ground he may see it as a better option to ground share at odsal and place a higher value on club. Think their have been mutterings in past that council wanted to sell off horsfall site for housing which might explain them not being helpful in any planning decisions re improvements.

That sounds like a golden solution so you can be sure it isn't going to happen!

Re: Administration 3 - now in technicolour : Thu Nov 24, 2016 1:27 pm  

It sounds to me that if he was involved in a bid then his motives might be football and Odsal driven?

It would certainly tie in with the rumour of potential owners needing somebody like Damien Irvine to run the club for them.

I'm certainly feeling more positive than I did a couple of weeks ago. Just ready to have the wind knocked out of me again.