Re: Latest state of play posts only : Tue Aug 21, 2012 9:20 am  

So how many of the three bids will get a complete information package ie business plan, proof of funding etc. in by today's deadline?

[Bulliac]

Re: Latest state of play posts only : Tue Aug 21, 2012 1:49 pm  

DemonUK wrote:

So how many of the three bids will get a complete information package ie business plan, proof of funding etc. in by today's deadline?

I guess they all will, in some form or another. Though I'm not sure how the SLE move will be presented (or even if it matters as it's 'in house') as they would seem, understandably, to be wanting to be a catalyst to enable else to come in and run things, rather than do it themselves.

I'm not sure how the bidders will present their cases though; putting in a single plan (ie for SL) would probably cause the RFL to consider it 'conditional', whereas I can't really see them being able to put in three separate detailed business plans. I guess we'll have to wait and see.

Re: Latest state of play posts only : Tue Aug 21, 2012 2:23 pm  

The only bit the administrator should be interested in is how much of the debt is repaid as he should looking for the best deal for the creditors. Its complicated in a way by the rfl involvement. In a way they should only get involved once the administrator has accepted a bid. Then they should do their fit and proper tests. My guess is they will string it out further. If you make the play offs then they will have to string it out a bit longer than planned.

[Bulliac]

Re: Latest state of play posts only : Tue Aug 21, 2012 4:39 pm  

DemonUK wrote:

The only bit the administrator should be interested in is how much of the debt is repaid as he should looking for the best deal for the creditors. Its complicated in a way by the rfl involvement. In a way they should only get involved once the administrator has accepted a bid. Then they should do their fit and proper tests. My guess is they will string it out further. If you make the play offs then they will have to string it out a bit longer than planned.

In a 'normal' administration that might be the case, but with a rugby club where the only real asset is the SL licence the RFL have great power and in effect are kingmaker. If they deny the licence to the administrator's choice then the value of the company is trashed as far as the administrator is concerned and he'll get little more than nothing - and that might be an overestimate. However you look at it, it's in his best interests (and the creditors) to keep the RFL onside.

Re: Latest state of play posts only : Wed Aug 22, 2012 7:10 am  

Well BCFC have pulled out saying if other bids fail come back to us! I think the SLE bid would have to fall over before that would happen! http://www.thetelegraphandargus.co.uk/s ... ver_Bulls/

Well BCFC have pulled out saying if other bids fail come back to us! I think the SLE bid would have to fall over before that would happen! http://www.thetelegraphandargus.co.uk/s ... ver_Bulls/

Re: Latest state of play posts only : Wed Aug 22, 2012 7:41 am  

Other interesting bit in todays paper is in Lulia article. Only the 17 out of contract players have been given permission to talk to other clubs by the RFL NOT the players under contract for next year. Whilst I'd imagine the latter groups agents will have deals lined up in case we don't exist as a SL club next, it does suggest that RFL will expect those players to continue as bradford players if we do retain our license. Technically we could be lodging a complaint against certain other clubs for making illegal approaches to under contract players, although under current circumstances doubt we'd go down that route.

Re: Latest state of play posts only : Wed Aug 22, 2012 8:06 am  

Blotto wrote: Well BCFC have pulled out saying if other bids fail come back to us! I think the SLE bid would have to fall over before that would happen! http://www.thetelegraphandargus.co.uk/s ... ver_Bulls/ I'm not sure what the logic would be for any potential buyer to bid against SLE. Why not let SLE buy the club, sort out the finances and then buy the club off of them?

Blotto wrote: Well BCFC have pulled out saying if other bids fail come back to us! I think the SLE bid would have to fall over before that would happen! http://www.thetelegraphandargus.co.uk/s ... ver_Bulls/ I'm not sure what the logic would be for any potential buyer to bid against SLE. Why not let SLE buy the club, sort out the finances and then buy the club off of them?

Re: Latest state of play posts only : Wed Aug 22, 2012 8:13 am  

Cibaman wrote:

I'm not sure what the logic would be for any potential buyer to bid against SLE. Why not let SLE buy the club, sort out the finances and then buy the club off of them?

To get it cheaper I'd guess. If SLE buy the club and sort the finances then the cost of doing that will be reflected in the price they accept from anyone subsequently buying the club. They arent going to sell the club on at a loss. SLE buying club only makes sense if they have a buyer lined up who won't deal with administrator for whatever reason.

Re: Latest state of play posts only : Wed Aug 22, 2012 8:25 am  

Cibaman, exactly.

Surely that has been the purpose all along? To make sure it is the RFL decides who gets to own the Bulls and on what terms, not the administrator? With the SLE bid there as the fallback if necessary, or to provide an interim ownership between administrator and eventual new owner? And thereby putting an end to any of the conspiracy theories regarding who the administrator may or may not have been in bed with? That seemed the logical explanation for the RFL's actions to me?

So if the RFL DO now let someone other than themselves (sorry, SLE) take the club over, by extension we must presumably assume that by the intervention of the SLE bid they will have been able to ensure that the bid is indeed from owners and on terms that the RFL is happy with?

Re: Latest state of play posts only : Wed Aug 22, 2012 9:52 am  

Hopefully this mornings SLE meeting in brighouse will make it clear if SL will have 13 or 14 clubs in 2013 and take a view on the remaining bids for the Bulls.