Re: 6 Bulls. : Thu Feb 27, 2014 3:19 pm  

wrencat1873 wrote:

Unless it is a direct instruction from The RFL, I don't see how the administrator could ring fence their assets if someone offered the right money.
Crikey, the administrators couldn't wait to sell our players off and they didn't get anywhere near market price.
One issue that has not had a mention up to now but, where is the administrator getting his income from, baring in mind there is no ST revenue and heavily reduced numbers turning up to watch, it is likely that The RFL are funding them ??, which begs the question as to just how long they can, or will continue.
First of all they had 28 days (now expired) but someone with very deep pockets is going to have to come along real soon.

Not quite. The administrator is acting on behalf of the creditors and his job is to get the best deal for them. All club incomes go to him and he decides if and when to pay any bills eg wages. His primary concern is to ensure that his costs are covered hence when we were in admin he sold player after player to meet his own costs. All season ticket monies will have been spent as will have the sponsorships and RFL money to date so he will only have the gate receipts and the RFL monthly funding to cover costs so the longer Bulls go without a definite buyer the harder it becomes to maintain the business as a going concern.

The fate of the Bulls is entirely at the administrator's discretion and the most surprising thing is that they got through the last administration relatively unscathed when if the administrator had been doing a proper job he would have liquidated more assets to pay creditors. His actions were disingenius at best and probably unlawful.

Re: 6 Bulls. : Thu Feb 27, 2014 3:28 pm  

rlfan wrote:

Not quite. The administrator is acting on behalf of the creditors and his job is to get the best deal for them. All club incomes go to him and he decides if and when to pay any bills eg wages. His primary concern is to ensure that his costs are covered hence when we were in admin he sold player after player to meet his own costs. All season ticket monies will have been spent as will have the sponsorships and RFL money to date so he will only have the gate receipts and the RFL monthly funding to cover costs so the longer Bulls go without a definite buyer the harder it becomes to maintain the business as a going concern.

The fate of the Bulls is entirely at the administrator's discretion and the most surprising thing is that they got through the last administration relatively unscathed when if the administrator had been doing a proper job he would have liquidated more assets to pay creditors. His actions were disingenius at best and probably unlawful.

I understand all that you have said but, I just don't see how the Bulls can be generating sufficient income to cover their wage bill let alone any other costs.
There is no "fat" from ST sales or "Xmas trade" which most clubs may have at the beginning of the season.
They will have some sponsorship revenue, gate receipts and matchday sales, which on falling crowd numbers, will leave a shortfall.
Who is picking up this tab ?

Re: 6 Bulls. : Thu Feb 27, 2014 3:36 pm  

The administrator did sell some of our players to cover his costs but no Bulls players were sold to cover the costs of the Bulls admin last time.

Re: 6 Bulls. : Thu Feb 27, 2014 4:06 pm  

I've a very vague recollection that the administrator was being paid at the time so didn't necasserily need to sell players to pay his/their wages.

Re: 6 Bulls. : Thu Feb 27, 2014 4:13 pm  

I'm pleasantly surprised that the RFL did their job and rightfully punished the Bulls with a 6 point deduction.

Fortunately for the Bulls, such an action has led to Moore & Co pulling out of purchasing them. They blamed the points deduction but in actual fact they simply do not have the cash to support the Bulls which was evidenced in the RFL press release explaining the debacle.

It was also quite clear that 'working with creditors', actually implied, we won't pay anyone unless we have no alternative but to and hence the points deduction being six and not four.

That said, 6 points isn't that much and I'm glad we can get back to talking about rugby. We should have expected to finish above them anyway but now is not the time to relax, we need to push on and ensure we're not caught up in a relegation battle

Re: 6 Bulls. : Thu Feb 27, 2014 11:30 pm  

no buyer, 27 more days to go

Re: 6 Bulls. : Thu Feb 27, 2014 11:53 pm  

I find this all very depressing, the game over in Oz is booming, while our clubs are going bust.

I don't know what the solution is, but I'm certain that relying on sugar daddies is not the way forward. What happens if they are hit by a bus?

Re: 6 Bulls. : Fri Feb 28, 2014 7:58 am  

Plenty of interest on the Bulls, they will come out of it smelling of roses again.

Re: 6 Bulls. : Fri Feb 28, 2014 8:01 am  

I just feel sorry for the genuine Bulls fans.

Re: 6 Bulls. : Fri Feb 28, 2014 8:17 am  

bren2k wrote:

I just feel sorry for the genuine Bulls fans.

Same here. Although I don't feel sorry for all those prats who used to walk round Wakey, Cas, Fev and Normy wearing Bulls shirts at the very height of Bullmania, the same folk who are probably now wearing Rhinos shirts.